It’s one thing to possibly win a casino game after making a bet, but it’s a whole other ballpark for investing in a casino stock. While you never know how a casino game or the rise and fall of a casino stock will play out, you can bet that stocks can eventually grow over time and make a return on your investment, even if there are some dips along the way. However, with a casino game, it can be a hit or miss, and sometimes more so a miss because many casino games like Crazy Time are randomized.
Wynn Resorts, Limited (WYNN)
Wynn Resorts is the Las Vegas Strip casino that employs the most individuals, accounting for more than 27,000 jobs. At the time of writing, Wynn Resorts was valued at $104.16 per share. It experienced an increase of $1.74 (1.70%) on February 23, 2024. The stock’s year-to-date (YTD) comparison has seen substantial growth of $9.56 (10.11% increase) from $94.60 per share on January 2, 2024, to the current share price mentioned.
The recent hike in stock price from earlier in the month can more than likely be attributed to their fourth-quarter revenue and overall earnings being much better than originally expected projections. The company generated $1.84 million in revenue which was more than the $1.74 million originally projected. Wynn Resorts, Limited’s earnings were $729.2 million which is comparable to being $6.19 for each share on the market which was way more than the 29 cents per share that they earned in the last quarter of 2022.
There is an upcoming dividend payout of 24 cents occurring on February 29, 2024, for all shareholders affiliated with Wynn Resorts from February 20, 2024, onward.
Las Vegas Sands (LVS)
Las Vegas Sands Corporation is currently valued at $54.75 per share with a 2.05% increase of $1.10 per share on February 23, 2024. On this same day, the company’s stock performed better in a percentage increase than the S&P 500 Index’s increase of 0.03%. During this week of stock performance, this was considered the third day in a row that Las Vegas Sands gained in their share price.
While the company’s one-year high is still lower by $10.83 (they hit the high on May 1st, 2023 with a share price of $65.58), such a 3-day improvement alone means the stock could eventually be back on track to that same share price high if not any higher. Despite trading volume being 3.3 million versus the usual 5 million over the last 50 days, overall trading volume could increase as the company’s share prices continue to improve.
Caesars Entertainment (CZR)
Caesars Entertainment’s current share price is $41.65, which is an 18-cent (0.43%) increase from February 22 to February 23, 2024. Unfortunately, its year-to-date share price fell from $47.78 on January 2, 2024, to $41.65 on February 23, 2024, which is a $6.13 (12.83%) decline from the beginning of this year.
Any decline in the market-43% decrease in share price in the last three years to be exact-can mean there is a possible gain in the market’s future. However, the week of Valentine’s Day 2024 brought a 3.1% hike for the stock overall, which is showing promise for future performance. In the past 5 years, profits have been high for Caesars with a 34% uptick in revenue in these past few years, so it seems odd that share prices are falling. The good news is that forecasted earnings are going to be about 12.04% per year in the years to come.
Which Casino Stock Should You Invest In During 2024?
As with investing in any stock, it’s always good to do your research. What financial standing is the company in at the moment? Have they experienced a recent or ongoing downturn in share price? If they are showing promise in the share price value increasing, it’s best to invest while the share price is low for a possible profit. Remember to invest wisely!