{"id":158597,"date":"2020-12-15T14:06:37","date_gmt":"2020-12-15T22:06:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=158597"},"modified":"2020-12-15T15:08:41","modified_gmt":"2020-12-15T23:08:41","slug":"casino-stocks-poised-for-huge-year-in-2021-jim-cramer","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/casino-stocks-poised-for-huge-year-in-2021-jim-cramer\/","title":{"rendered":"Casino Stocks Poised for ‘Huge’ Year in 2021: Jim Cramer"},"content":{"rendered":"

The public\u2019s pent-up demand for travel and a potential for better US-China relations point to a \u201chuge year\u201d for casino stocks in 2021, according to CNBC<\/em>\u2019s Jim Cramer.<\/p>\n

\"Jim
Television host Jim Cramer gestures during a broadcast earlier this year. The CNBC<\/em> analyst is optimistic about casino stocks in the new year. (Image: MarketWatch<\/em>)<\/figcaption><\/figure>\n

The television host said once enough people are vaccinated, \u201cThe economy goes back to normal, travel resumes, and people start gambling in-person again.\u201d<\/span><\/p>\n

\n

That\u2019s why the casinos should have a huge year in 2021,\u201d<\/strong> Cramer said. He added, \u201cVegas, here we come.\u201d<\/strong><\/p>\n<\/blockquote>\n

Cramer is an economic analyst on CNBC <\/em>and\u00a0hosts a\u00a0stock-investing show, Mad Money,\u00a0<\/em>on the financial news network. Cramer said casinos have had \u201cabsolutely terrible numbers lately.\u201d<\/p>\n

\n

As an example, Las Vegas Sands lost 76 percent of its business in the first nine months of 2020, he said. Among the company\u2019s holdings are the Venetian and Palazzo on the Las Vegas Strip,<\/a> and the Marina Bay Sands in Singapore. He noted these resorts rely \u201cheavily on travel and tourism spending.\u201d<\/p>\n<\/div>\n

Negative financial numbers are expected to turn around as travel picks up. \u201cThe pent-up demand is absolutely enormous,\u201d Cramer said.<\/p>\n

Health professionals this week began administering the first vaccinations nationwide. Widespread vaccinations are months away, according to health experts.<\/p>\n

Opportunities in China<\/h2>\n

President-elect Joe Biden\u2019s swearing-in next month should give investors optimism about casino companies operating in China, Cramer said.<\/p>\n

The CNBC<\/em> host said Biden is expected to be more diplomatic toward China than President Donald Trump has been. A diplomatic tone will be less likely to spook investors, he said.<\/strong><\/p>\n

Cramer said he thought Trump\u2019s \u201ctrade war with China was the right move.” However, \u201cWall Street hated the trade war every step of the way, so money managers are giddy that Biden\u2019s going to lower the temperature,\u201d he said.<\/p>\n

\u201cAmericans are ready to gamble again, and perhaps more important, Biden will have a very different attitude toward China,\u201d Cramer said.<\/p>\n

Sports Betting Goes Mainstream<\/h2>\n

Cramer also has expressed optimism about opportunities for the companies involved in sports betting. In November, Cramer said on Mad Money<\/em> that sports betting is \u201ctaking the country by storm.\u201d<\/p>\n

He made this remark after voters approved legal sports wagering in the three states that had it on the Election Day ballot. These states are Louisiana, Maryland, and South Dakota.<\/p>\n

Cramer noted sports betting is spreading because states want the tax revenue that comes from legalization. \u201cRight now, it\u2019s going to bookies,\u201d he said.<\/strong><\/p>\n

Legal sports betting is taking place in 19 states and the District of Columbia, according to the American Gaming Association website. Sports betting has been approved in six other states but is not yet up and running<\/a>.<\/p>\n

\u201cSports betting has gone mainstream,\u201d Cramer said.<\/p>\n

The voting results in November were a \u201chuge victory\u201d for the industry, with \u201cmarket-moving implications,\u201d he said. DraftKings, Penn National Gaming, and MGM Resorts are in a position to benefit from the recent spread of sports betting, Cramer said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The public\u2019s pent-up demand for travel and a potential for better US-China relations point to a \u201chuge year\u201d for casino stocks in 2021, according to CNBC\u2019s Jim Cramer. The television host said once enough people are vaccinated, \u201cThe economy goes back to normal, travel resumes, and people start gambling in-person again.\u201d That\u2019s why the casinos […]<\/p>\n","protected":false},"author":55,"featured_media":158598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"acf":[],"yoast_head":"\nCasino Stocks Poised for 'Huge' Year in 2021: Jim Cramer - Casino.org Casino Stocks Poised for 'Huge' Year in 2021: Jim Cramer<\/title>\n<meta name=\"description\" content=\"The public\u2019s pent-up demand for travel and a potential for better US-China relations point to a \u201chuge year\u201d for casino stocks in 2021, according to CNBC\u2019s CNBC's Jim Cramer says pent-up consumer demand will boost casino stocks once COVID-19 vaccines are widespread.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/casino-stocks-poised-for-huge-year-in-2021-jim-cramer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Casino Stocks Poised for 'Huge' Year in 2021: Jim Cramer - 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