Jefferies analyst warns of headwinds for Las Vegas and Macau casinos
Jefferies analyst David Katz warned investors that Las Vegas and Macau casinos face longer-term growth challenges, according to reports. He pointed to a positive second quarter alongside uncertainty about sustained growth, while MGM Resorts reported net Strip revenue of $2.18bn and an 8% fall in pre-tax earnings year on year. Katz also said April-May gambling wins in Las Vegas rose 10%.
The outlook may inform casino operators’ and investors’ assessments of near-term results and longer-term growth prospects.