MGM and Caesars higher on a Vegas rush

|About: Caesars Acquisition Company (CACQ)|By:, SA News Editor

Caesars Entertainment (CZR +2.9%) and Caesars Acquisition Company (CACQ +5.1%) trade higher after MGM Resorts (MGM +3.1%) reports strong results for its Las Vegas properties in Q1.

The JPMorgan analyst team is out with a favorable assessment of the MGM numbers.

"We are optimistic that this positive result and management’s full-year 2017 LV Strip net revenue, RevPAR, and margin targets will not only be met with relief, but also, we believe, that they will help shore up relatively negative/skeptical investor sentiment towards MGM," reads the JP note.