More importantly this a bearish post regarding Vegas casinos. Last week Vegas returned to phase 1 of it’s reopening plan. This means bars are being forced to re-close. Casinos may very likely be next, and even if they’re not this is still going to be yet another blow for Las Vegas tourism.
“The Covid numbers in Vegas are far worse than what is represented in the data. People do not go to Vegas to get tested. They go to Vegas, catch the virus and then go home and get tested. Las Vegas should very much be considered the new epicenter for the Coronavirus in the United States.”
I could type a lot more words but most of ya’ll can’t read anyways. So I’m just going to link to various news articles and post my positions.
- Las Vegas’ covid cases are rapidly rising
- Las Vegas’ bars shut down again
- Are Las Vegas casinos next?
My plays are centered around Q2 earnings for these Casinos, which are going to be their worst ever:
- MGM $17p, 08/07
- WYNN $75p, 08/07
- LVS $45p, 07/31
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.