Wall Street Bets is a roundup of recent notes from analysts covering the gambling industry.
Truist Securities’ Barry Jonas looked at forthcoming earnings reports for second quarter on July 20:
“Regionals looks to be the best house in an unloved neighborhood, and we expect beats from Penn (Entertainment) and Monarch Casino & Resort. Strip trends look better for MGM though M&A remains the near-term focus (and likely a floor) for investors. Locals continue to face near-term idiosyncrasies, but Red Rock Resorts could beat given estimates reset too low last quarter. Digital operators and B2B remain challenged amidst unsteady OSB growth and prediction market concerns. Net-net, we foresee a quarter tilted toward regional/locals-focused companies, with M&A the focus in Vegas and predictions the focus for Digital.”
Macquarie’s Chad Beynon examined hotel booking trends on July 14:
“Preliminary June 2026 U.S. revenue per available room grew 8.7% comprised of 6.8% average daily room rate and 1.7% occupancy. This represented a notable acceleration from prior April and May growth trends of 4.4% and 4%, respectively, which we attribute to World Cup demand and solid overall leisure travel. All chain scales showed growth but, similar to prior trends, growth remains most pronounced at the top end with Luxury leading at ~16% RevPAR growth and Upper Upscale at ~9% and performance degrading going down the chain scales. We believe this represents an ongoing trend of higher end outperformance as well as impact from the premium-positioned World Cup.”
David Katz of Jefferies viewed the second quarter of gaming data on July 19:
“2Q GGR for the 18 reporting states improved +3.8% year-over-year, driven by new supply and durable customer demand. May was the strongest month at +6.4% year-over-year, believe followed by April at +5.3% and June at +1.6%. June’s relative weakness reflected one fewer weekend day. Atlantic City GGR declined (0.7%) year-over-year in June. Overall, reported data support stable 2Q prints, assuming a stable promotional environment, particularly in the second half of the quarter.”
