Top casino stocks to explore in Q3: LVS, MGM, WYNN, CZR & CHDN

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 Top casino stocks to explore in Q3: LVS, MGM, WYNN, CZR & CHDN
Image source: © Baburkina567 | Megapixl.com

Highlights:

  • MGM Resorts International (NYSE: MGM) revenue jumped 73% YoY in Q1, FY22.
  • Caesars Entertainment, Inc. (NASDAQ: CZR) will report Q2 results on Aug 2.
  • Churchill Downs, Incorporated (NASDAQ: CHDN) will report Q2 results on July 27.

The casino industry is part of the larger travel and entertainment business. The segment represents companies that offer various leisure activities, including casinos and other gambling avenues. Many luxury hotels and resorts operate casinos, racetracks, etc., for tourists and other guests. During the pandemic, the casinos suffered the most due to reduced footfall of visitors.

Despite challenges, the industry recorded one of its biggest revenue collections in March, generating a record US$5.2 billion. According to an industry survey, the first-quarter revenue growth for the sector was more than US$14.2 billion.

Here we list some top casino stocks worth exploring this year.

Las Vegas Sands Corp (NYSE: LVS)

Las Vegas Sands Corp is one of the leading casinos and resort firms based in Las Vegas, Nevada.

Its shares traded at US$32.815 at 1:40 pm ET on July 12, up 1.88% from their closing price of July 11. Its stock value decreased by 17.09% YTD.

The firm has a market cap of US$25.07 billion, a P/E ratio of 13.64, and a forward one-year P/E ratio of -44.12. Its EPS is US$2.41. The 52-week highest and lowest stock prices were US$51.25 and US$28.88, respectively. Its trading volume was 15,853,880 on July 11.

The company reported net revenue of US$943 million in Q1, FY22, compared to US$1.19 billion in the year-ago quarter. Its attributable net income was US$2.53 billion, against a loss of US$278 million in Q1, FY21.

Top casino stocks to explore in JulySource: Pixabay

MGM Resorts International (NYSE: MGM)

MGM Resorts is a hospitality and entertainment firm based in Las Vegas, Nevada.

The stock traded at US$29.215 at 1:45 pm ET on July 12, up 2.87% from its previous closing price. The MGM stock fell 37.55% YTD.

Its market cap is US$12.44 billion, the P/E ratio is 9.49, and the forward one-year P/E ratio is 30.21. Its EPS is US$3.08. The stock touched the highest price of US$51.17 and the lowest price of US$26.41 in the last 52 weeks. Its share volume on July 11 was 4,548,250.

The company will report its second-quarter fiscal 2022 financial results on August 3.

In the first quarter of fiscal 2022, its revenue soared 73% YoY to US$2.9 billion, and its net came in at US$18 million, or US$0.06 per diluted share.

Caesars Entertainment, Inc. (NASDAQ: CZR)

Caesars Entertainment is an entertainment company that operates casinos and hotels. It is based in Las Vegas, Nevada.

Its shares traded at US$39.31 at 1:49 pm ET on July 12, up 2.88% from their closing price of July 11. Its stock value declined 59.12% YTD.

The firm has a market cap of US$8.42 billion, and a forward one-year P/E ratio of -31.84. Its EPS is US$-5.97. The 52-week highest and lowest stock prices were US$119.81 and US$36.63, respectively. Its trading volume was 3,515,941 on July 11.

The company will release its second-quarter fiscal 2022 results on August 2. Meanwhile, in Q1, FY22, its GAAP net revenue was US$2.3 billion, and its net loss was US$680 million.

Churchill Downs, Incorporated (NASDAQ: CHDN)

Churchill Downs is a racing company that also runs casinos and online gambling. It is based in Louisville, Kentucky.

The stock traded at US$200.42 at 1:52 pm ET on July 12, up 2.93% from its previous closing price. The CHDN stock plunged 17.71% YTD.

Its market cap is US$7.62 billion, the P/E ratio is 30.78, and the forward one-year P/E ratio is 23.69. Its EPS is US$6.52. The stock touched the highest price of US$262.20 and the lowest price of US$172.75 in the last 52 weeks. Its share volume on July 11 was 99,820.

The company will release its Q2, FY22 financial results on July 27. In Q1, FY22, its net revenue was US$364.1 million, and its net income was US$42.1 million.

Top casino stocks to explore: LVS, MGM, CZR, CHDN, WYNNImage Source: ©Kalkine Media®; © TheAndrasBarta via Canva.com

Wynn Resorts, Limited (NASDAQ: WYNN)

Wynn Resorts is a gambling firm based in Las Vegas, Nevada. It operates hotels and casinos.

Its shares traded at US$55.08 at 1:56 pm ET on July 12, up 4.30% from their closing price of July 11. Its stock value plummeted 39.83% YTD.

The firm has a market cap of US$6.38 billion, and a forward one-year P/E ratio of -18.21. Its EPS is US$-5.73. The 52-week highest and lowest stock prices were US$114.10 and US$50.20, respectively. Its trading volume was 9,224,044 on July 11.

The company reported operating revenue of US$953.33 million in Q1, FY22, compared to US$736.7 million in the same quarter of the previous year.

Its attributable net loss was US$183.32 million, or US$1.59 per diluted share, against a loss of US$280.97 million, or US$2.53 per diluted share, in Q1, FY21.

Bottom line:

US markets have been extremely volatile amid high inflation and rate hikes. The VanEck Gaming exchange-traded fund (ETF), which tracks the casino sector’s performance, fell 25.48% YTD and 2.34% QTD.

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