MGM’s Bellagio Las Vegas. JPMorgan is bullish on that stock and Caesars. (Image:
New York Post)
Some Wall Street analysts are increasingly bullish on the pair of gaming equities, with JPMorgan’s Joseph Greff joining that group today with positive commentary on the Bellagio and Flamingo operators. In the largest US casino center, weekend occupancy is strong and slated to remain that way through year-end — a positive for operators as they wait for convention business to return. Greff sees Las Vegas leading a travel resurgence.
Las Vegas will lead the group recovery, given its appeal as a blend and intersection of leisure and group [travel], the best of both worlds, in our view,” said the analyst.