{"id":247467,"date":"2022-12-11T02:22:45","date_gmt":"2022-12-11T08:22:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=247467"},"modified":"2023-01-03T05:34:36","modified_gmt":"2023-01-03T11:34:36","slug":"some-gaming-industry-stocks-could-be-2023-winners","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/","title":{"rendered":"Gaming Industry Displaying Fortitude Amid Headwinds, Says Analyst"},"content":{"rendered":"

Broadly speaking, share price performances across the gaming industry this year are unimpressive.<\/p>\n

\"Gaming
Caesars Palace on the Las Vegas Strip. It’s one of the gaming industry stocks an analyst is bullish on. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

That\u2019s the result of macroeconomic headwinds, including persistent<\/a> inflation and rising interest rates, as well as ongoing concerns regarding when sportsbook operators<\/a> will finally reach profitability. Still, gross gaming revenue (GGR) and visits data, including Las Vegas and regional market, belie weak equity market action and the aforementioned economic issues.<\/p>\n

In a recent note to clients, Macquarie analyst Chad Beynon says various gaming industry data point to potential firmness in fourth-quarter earnings. That’s in addition to the possibility of strength through the first half of 2022.<\/p>\n

Since G2E (Oct \u201822) and 3Q earnings (Oct-Nov \u201822), we have digested several industry and macro datapoints as well as updated management commentary. At this point, we feel slightly more comfortable with 4Q22 as well as 1H23 estimates given consumer resiliency, low unemployment and publicly reported data,\u201d<\/strong> wrote Beynon.<\/p><\/blockquote>\n

In alphabetical order, Macquarie\u2019s preferred gaming industry equity ideas are Caesars Entertainment (NASDAQ:CZR), DraftKings (NASDAQ:DKNG),<\/a> Everi (NYSE:EVRI), International Game Technology (NYSE:IGT), MGM Resorts International (NYSE:MGM), and Penn Entertainment (NASDAQ:PENN).<\/p>\n

Strong Q4 Clues from Gaming Industry<\/h2>\n

October was the 20th<\/sup> consecutive month in which Nevada casinos notched GGR of at least $1 billion. As Beynon points out, there are signs Las Vegas and regional operators could finish 2022 in strong form.<\/p>\n

\u201c4Q has started off well with Oct Regional GGR of $3.4bn (+2% YoY; +14% vs \u201919), Vegas (+1% YoY; +31% vs \u201919), US Online (+65% YoY), despite one less weekend day in the month,\u201d added the analyst. \u201cWe estimate that slot revenue slightly underperformed table revenues, given the strength from last year\u2019s results. That said, it was encouraging to see NV Slot revenue set an all-time record.\u201d<\/p>\n

\n

Outside of the US, there are finally signs of life among Macau stocks,<\/a>despite China\u2019s still deployed zero-COVID policy and related travel restrictions. In fact, Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN), which control a combined seven Macau integrated resorts, are among this year\u2019s best-performing gaming equities.<\/p>\n<\/div>\n

\u201cRegarding Macau, we expect demand to significantly improve ahead of CNY (Jan 22nd), which could be a catalyst for Macau estimates,\u201d <\/strong>said Beynon.<\/p>\n

Gaming Industry Small-Cap Ideas<\/h2>\n

With the exception of Everi, the gaming industry stocks on Macquarie\u2019s preferred list are mid- and large-cap names. However, the research firm has some ideas among small-caps \u2013 a market capitalization segment that\u2019s outperforming its larger rivals this year.<\/p>\n

In addition to Everi, Macquarie is constructive on internet lottery provider NeoGames (NASDAQ:NGMS) and sportsbook operator Rush Street Interactive (NYSE:RSI), among small-cap gaming equities.<\/strong><\/p>\n

RSI, which is nearing profitability, operates under the BetRivers and PlaySugarHouse brands, and is currently available with mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.<\/p>\n","protected":false},"excerpt":{"rendered":"

Broadly speaking, share price performances across the gaming industry this year are unimpressive. That\u2019s the result of macroeconomic headwinds, including persistent inflation and rising interest rates, as well as ongoing concerns regarding when sportsbook operators will finally reach profitability. Still, gross gaming revenue (GGR) and visits data, including Las Vegas and regional market, belie weak […]<\/p>\n","protected":false},"author":46,"featured_media":247468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,1074],"tags":[81897,81903,80968],"acf":[],"yoast_head":"\nSome Gaming Industry Stocks Could Be 2023 Winners<\/title>\n<meta name=\"description\" content=\"Macquarie analyst Beynon constructive on select gaming industry stocks.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Some Gaming Industry Stocks Could Be 2023 Winners\" \/>\n<meta property=\"og:description\" content=\"Macquarie analyst Beynon constructive on select gaming industry stocks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-11T08:22:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-03T11:34:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/CP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/\",\"url\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/\",\"name\":\"Some Gaming Industry Stocks Could Be 2023 Winners\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/CP.jpg\",\"datePublished\":\"2022-12-11T08:22:45+00:00\",\"dateModified\":\"2023-01-03T11:34:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macquarie analyst Beynon constructive on select gaming industry stocks.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/some-gaming-industry-stocks-could-be-2023-winners\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/CP.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/CP.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Caesars Palace on the Las Vegas Strip. It's one of the gaming industry stocks an analyst is bullish on. 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