Is this the same guy who keeps touting gaming stocks month after rotten month of declining stock prices? There is absolutely NO reason to enter the gaming sector at this time. The writer states a rather weak reason for buying which, inanely is, the numbers are so poor this year, that next year the numbers will look great ! In fact, while the numbers may look better (I don't think so), what in the hell is exciting about beating weak numbers ? Las Vegas is the 5th most expensive city in the US to vacation. Convention business is down 16% ...An enormous hit for Vegas. Tourist traffic incoming at McCarron airport is down. Room rates are down. Non-gaming revenues are down. Construction expenses are up Costs of borrowing to finance the endless mega-projects are up and harder to finance. The Vegas local economy is a disaster..Gas is close to $4.00 per gallon, killing the California week-enders business. If the dollar ever seriously strengthens, tourist business will suffer greatly..Foreigners are basically holding up the paltry numbers now. We could compose an endless list of reasons for not buying gaming stocks at this time. Long term ? I would guess these stocks are a buy..However,, why tie up your investment dollars for 5 years in a losing scenario, when there are better undervalued plays in the market ?
Buy Opportunity in Gaming Stocks: Reduced Targets, Easier Comparables [View article]
There is absolutely NO reason to enter the gaming sector at this time.
The writer states a rather weak reason for buying which, inanely is, the numbers are so poor this year, that next year the numbers will look great ! In fact, while the numbers may look better (I don't think
so), what in the hell is exciting about beating weak numbers ?
Las Vegas is the 5th most expensive city in the US to vacation.
Convention business is down 16% ...An enormous hit for Vegas.
Tourist traffic incoming at McCarron airport is down. Room rates are down. Non-gaming revenues are down. Construction expenses are up Costs of borrowing to finance the endless mega-projects are up and harder to finance. The Vegas local economy is a disaster..Gas is close to $4.00 per gallon, killing the California week-enders business.
If the dollar ever seriously strengthens, tourist business will suffer
greatly..Foreigners are basically holding up the paltry numbers now.
We could compose an endless list of reasons for not buying gaming stocks at this time. Long term ? I would guess these stocks are a buy..However,, why tie up your investment dollars for 5 years in a losing scenario, when there are better undervalued plays in the market ?