Deutsche Bank sees rate cuts supporting Red Rock casino prospects
Deutsche Bank analyst Carlo Santarelli said a US Federal Reserve rate cut could benefit casino operators including Red Rock Resorts, while the presidential election may weigh on Las Vegas locals casinos. The bank said Red Rock could advance a southern Las Vegas project more quickly after Durango Casino & Resort’s performance; it also cited July gaming revenue growth of 13% year on year.
The analyst’s outlook helps investors weigh Red Rock’s development prospects against potential pressure on Las Vegas locals casinos.