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New Beijing-to-Vegas nonstop flight seen as a positive for casinos

Sep. 15, 2016 2:59 PM ETMGM Resorts International (MGM) StockLVS, MGM, WYNN, BJK, CZRBy: Clark Schultz, SA News Editor11 Comments
  • Union Gaming Securities thinks the addition of a nonstop route by Hainan Airlines from Beijing to Las Vegas is a positive factor for the gaming sector.
  • "The direct route is a positive for both incremental visitation and ultimately higher spend as Chinese visitors arriving in Las Vegas on a direct flight would be able to stay longer and spend more money compared with those visiting on broken trips," reads the Union note.
  • "Conservative estimates pin [suggest] 300,000 Chinese travellers are already visiting Las Vegas every year, though these visitors arrive on broken trips – meaning they arrive via connecting flights from other U.S. cities. The new direct route would allow about 10 percent of these visitors (approximately 33,000) to reach Las Vegas direct each year."
  • A percentage of the airline traffic will be U.S. tourists and business travelers visiting China, but the majority is seen as an influx of Chinese gamblers.
  • Related stocks: MGM, WYNN, LVS, CZR.
  • Related ETF: BJK.

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