As Las Vegas Reopens, Should Investors Bet On Casino Stocks Rebounding?

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Casino stocks are rebounding ahead of Las Vegas reopening next week.

After over two months of unprecedented shutdowns due to the coronavirus pandemic, Las Vegas casinos have been given a green light to reopen on June 4, a move that could result in a major rebound for their beaten-down stocks.KEY FACTS

According to investment researcher Morningstar, while the coronavirus pandemic continues to “materially affect near-term travel and leisure demand,” all three major casino stocks are trading at significant discounts to fair value: Wynn , MGM and Las Vegas Sands . Caesars Entertainment, Las Vegas Sands, Boyd Gaming Corp., MGM and Wynn Resorts say they will open that day.

 

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Over 100,000 dead in the USA in 10 weeks from Coronavirus, 41 million unemployed, 25% of workforce out of work, several small companies going out of business permanently, and bankruptcies and evictions soaring. No cure or vaccine. Country is more divided than ever.

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Elders won't come back for a while.

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