As the S&P 500 marches higher and higher, the share prices of large-cap casino operators Las Vegas Sands Corp LVS 4.36%, Wynn Resorts Ltd WYNN 3.84% and MGM Resorts International MGM 3.86% are down an average of 17 percent year-to-date (YTD).
At the same time, the share prices of small-cap regional U.S. operators Pinnacle Entertainment Inc PNK 0.87%, Boyd Gaming Corp BYD 2.81%, Penn National Gaming Inc PENN 0.96% and Isle of Capri Casinos Inc ISLE 1.02% have surged an average of 60 percent in 2015.
Industry Insight
Benzinga recently had the chance to sit down with Rick Carter, the co-founder of the Island View Casino Resort, to discuss exactly why smaller regional casino operators have been putting their rivals to shame in recent months. Mr. Carter was joined by Island View CFO John Bakley, who also formerly served as the Senior Director of Finance at Isle of Capri.
Island View is located in Gulfport, MS, and is one of the handful of casino resorts operating on the Mississippi Gulf Coast. The privately-owned resort opened up a new $58 million, 405-room beach tower in April of this year, increasing the resort’s total room capacity by over 70 percent.
Despite the major increase in capacity, Island View has been flourishing since the new tower opened, and the tower has registered a 99 percent overall occupancy rate so far.
Macau To Blame?
One major factor in the underperformance of the large-cap U.S. operators is…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
