On a lighter note, an industry that is starting to shine bright is Travel and Leisure. More specifically, the Casino Industry. That’s right folks, gambling is back on the table.
With the distribution of the COVID-19 Vaccine around the corner, and President elect Biden leaning towards closing the trade war and taking a less hardline approach with China, the Casino industry could not be happier.
In fact, Jim Cramer from CNBC’s MAD MONEY said himself “Once enough people are vaccinated … the economy goes back to normal; travel resumes and people start gambling in person again,” This potentially incoming cash flow is much needed for the industry with big names like Wynn Resorts down over 70% in revenue.
However, with COVID cases continuing to rise, not all the cards on the table which is why some analysts don’t expect the health of the United States or casino stocks to rebound immediately. Despite this uncertainty many Casino stocks have rallied since November with investors anticipating a recovery, only time will tell if this will hold.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.