Seeking Profits
Energy, tech, dividend investing, long/short equity

Boyd Gaming: Bet Against The House

Over the past three years, the growth in Macau has buoyed the gaming stocks, sending shares of Las Vegas Sands (NYSE:LVS) and Wynn (NASDAQ:WYNN) to multi-year highs despite a sluggish rebound in Las Vegas since the financial crisis. However, Boyd Gaming (NYSE:BYD) has quietly doubled this year and is sitting near its 5 year high:

(click to enlarge)

Boyd is a pure-play on US gaming, and while it has locations in Illinois, Mississippi, and the Borgota in Atlantic City, Las Vegas is the primary driver of its business. I believe that shares have rallied too far too fast given the still soft gaming environment in the United States and would be a seller of...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details