Why Casino Stocks Are Trading Higher Today

Monday 14th December 2020

Casino stocks are trading higher on Monday as vaccine optimism boosts casino and hotel stocks despite near-term COVID-19 concerns.

The strength is potentially related to reopening hopes amid the U.S. COVID-19 vaccine rollout as well as sports betting optimism.

Caesars Entertainment Corporation (NASDAQ: CZR) operates 49 casino properties in 13 U.S. states and five countries (with a sixth non-casino resort in Dubai), primarily under the Caesars, Harrah's, and Horseshoe brands.

Caesars Entertainment Corporation shares were trading up 3.58% at $72.40. The stock has a 52-week high of $74.92 and a 52-week low of $6.02.

Monarch Casino & Resort (NASDAQ: MCRI) owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk.

Monarch Casino & Resort shares were trading up 1.93% at $53.41. The stock has a 52-week high of $57.57 and a 52-week low of $12.83.

Red Rock Resorts (NASDAQ: RRR) along with its subsidiary is a gaming, development and management company. The company mainly develops a strategically-located casino and entertainment properties.

Red Rock Resorts shares were trading up 2.20% at $24.61. The stock has a 52-week high of $27.91 and a 52-week low of $2.76.

Boyd Gaming (NYSE: BYD) is a regional casino company focused primarily on serving middle income customers. The company operates 16 casinos in Las Vegas, Atlantic City, Illinois, Indiana, Mississippi and Louisiana.

Boyd Gaming shares were trading up 0.44% at $41.20. The stock has a 52-week high of $43.40 and a 52-week low of $6.44.

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