predicts a similar outcome<\/a>.<\/p>\nThe billionaire said of the Republican Congress and President Trump’s tax cuts, “A major recipient of this sort of mentality in the government is Las Vegas. We were victimized by the wet blanket, over-regulatory oppressiveness of the Obama administration. All of us out here suffered. Well, everything is changed, and we’re going to ride this at full speed.”<\/p>\n
This week, Wynn Resorts joined hundreds of other US businesses in announcing plans to share the corporate tax savings with its 12,000 domestic employees.<\/p>\n
Aristocrat Leisure’s two main US competitors, International Game Technology (IGT) and Scientific Games, will also benefit from the tax plan, Morgan Stanley stated.<\/p>\n
Taking Stock<\/h2>\n
The nonpartisan Tax Policy Center in Washington, DC recently concluded that the average American household will save about $1,600 on their annual taxes in 2018.<\/p>\n
The hopeful change has fueled a Wall Street rally, with the Dow Jones Industrial Average soaring from 24,726 the day Congress passed the measure to 26,300 as of Wednesday morning. That’s an increase of more than six percent.<\/p>\n
\n
And that bodes well for Las Vegas. When the US recession hit in 2008, gaming revenue plummeted nearly 13 percent on the Strip, as Americans saw their savings vanish and spending money dissipate.<\/p>\n
Then-President Obama’s famous advice to citizens during a speech in New Hampshire in 2010, at the height of the recession, to ” [not] blow a bunch of cash on Vegas when you\u2019re trying to save for college” was a bitter pill for the tourism-dependent economy of Sin City, and it was never forgotten by the gaming industry there.<\/p>\n<\/div>\n
But eight years late, it’s all turned around. Paired with industry analysts bullish on Macau, it’s no surprise that investment experts believe numerous publicly traded gaming stocks are smart buys.<\/p>\n
According to research firm Morningstar, Nevada casino operators Las Vegas Sands, MGM Resorts, Wynn Resorts, Caesars Entertainment, and Boyd Gaming are all rated at “buy.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming operator and slot manufacturer stocks stand to benefit from\u00a0the Tax Cuts and Jobs Act, the tax reform plan passed by Congress in December and then signed into law by President Donald Trump. Investment bank Citi opines that it’s not only US-based gambling companies that stand to reap the financial rewards of Americans having more […]<\/p>\n","protected":false},"author":42,"featured_media":68096,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,61],"tags":[],"acf":[],"yoast_head":"\n
Trump Tax Reform Could Be Gaming Stock Jackpot<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n