Caesars, MGM Resorts after JPMorgan reassures

|About: Caesars Entertainment (CZR)|By:, SA News Editor

Caesars Entertainment (CZR +2.6%) and MGM Resorts (MGM +2.9%) are higher on the day after a positive note arrives from the JPMorgan desk.

JP analyst Joseph Greff says the Vegas Strip is holding up fine and sees the recent selling pressure on the casino stocks as tied to technical factors, interest rates and macro considerations.

Looking down the road, Greff reminds that the new Raiders stadium and the MSG Sphere will help support Las Vegas Strip traffic.

JPMorgan has an Overweight rating on both Caesars and MGM.

Sources: Las Vegas Sun, Bloomberg

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