Jefferies forecasts growth for casino sector, changes PTs of major cos

Red Rock Resorts

03/01/2025 14:29

** Brokerage expects high demand and limited supply for
casinos in Las Vegas during 2025-26
    ** Jefferies expects recent economic stimulus by the Chinese
government to help the gross gaming revenue in Macau return to
2019 levels by 2026
    ** Last year in Sept., China's central bank unveiled its
most aggressive stimulus since the pandemic
    ** Brokerage upgrades Las Vegas Sands  LVS.N  and Boyd
Gaming Corp  BYD.N  to "buy" from "hold" and downgrades Red Rock
Resorts  RRR.O  to "hold" 
    ** Jefferies says "regional markets should remain choppy on
increasing competition and economic unevenness"
    ** Brokerage cuts PTs of Caesars Entertainment  CZR.O  to
$43, MGM Resorts International  MGM.N  to $50 and Wynn Resorts
Ltd  WYNN.O  to $105
    ** It raises PTs of Penn Entertainment  PENN.O  to $22 and
Golden Entertainment  GDEN.O  to $32 
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))