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J.P. Morgan lowers gaming stock expectations for the second half of 2024

Business

J.P. Morgan analyst Joseph Greff lowered expectations for gaming share prices and valuations in the second half of 2024, citing slower consumer spending and macroeconomic conditions. Greff said Las Vegas Strip results were mixed in the second quarter and noted that U.S. online sports betting and iGaming growth remained attractive despite Illinois tax-rate increases.

Investors should weigh weaker gaming-share expectations against attractive U.S. online sports betting and iGaming growth.

End-of-day close Caesars Entertainment (CZR), USD, to 3 October 2024
Story date5 July 20243 October 2024

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