{"id":3564,"date":"2026-04-22T12:31:10","date_gmt":"2026-04-22T12:31:10","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3564"},"modified":"2026-04-22T12:31:10","modified_gmt":"2026-04-22T12:31:10","slug":"vegas-analysis-gaming-stocks-are-still-weak-regional-casinos-hold-steady","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/vegas-analysis-gaming-stocks-are-still-weak-regional-casinos-hold-steady","title":{"rendered":"Vegas Analysis: Gaming Stocks Are Still Weak, Regional Casinos Hold Steady"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2026\/04\/gambling-stocks.jpg\" alt=\"Gambling Stocks\" class=\"alignleft size-full wp-image-3565\" width=\"300\" title=\"Vegas Analysis: Gaming Stocks Are Still Weak, Regional Casinos Hold Steady\"\/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>The Las Vegas Strip continues to struggle while regional casinos are showing a stable form, according to a new analysis. <\/li>\n<li>Barry Jonas believes online gambling is facing ongoing pressure from prediction markets and online sports betting.<\/li>\n<li>Caesars and MGM showed mixed trends, while Penn Entertainment and Boyd recorded strober performance.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.casinousa.com\/news\/digital-casino-stocks-more-resilient-as-new-tariffs-shake-the-market\">Gaming stocks<\/a> remain out of favor on Wall Street, according to Truist Securities analyst <strong>Barry Jonas<\/strong>, who also sees early signs of stability in parts of the industry.<\/p>\n<h2 id=\"gaming-still-out-of-favor\">Gaming, Still \u201cOut of Favor\u201d<\/h2>\n<p>In an April 21 note, Jonas said gaming \u201c<em>remains out of favor<\/em>\u201d though he pointed to small improvements in specific segments. The clearest weakness remains Las Vegas, where growth has been difficult to sustain. Locals-focused casinos in the city also face what he called short-term \u201c<em>idiosyncrasies<\/em>\u201d.<\/p>\n<p>When customers stay closer to home, regional casinos make a profit since they feature the \u201c<em>best setup<\/em>\u201d heading into first-quarter earnings, with <a href=\"https:\/\/www.casinousa.com\/news\/churchill-downs-incorporated-set-to-enter-pennsylvania-casino-market\"><strong>Churchill Downs<\/strong><\/a> and <strong>Monarch Casinos &#038; Resorts<\/strong> as top picks.<\/p>\n<p>Online gambling, however, remains under pressure, \u201c<em>challenged<\/em>\u201d by the <a href=\"https:\/\/www.casinousa.com\/games\/sports-betting\">rising online sports betting<\/a> and prediction markets. Broader concerns around the economy and oil prices are also part of the problem.<\/p>\n<h2 id=\"events-and-leisure-travel-still-weak\">Events and Leisure Travel, Still Weak <\/h2>\n<p>Large events that usually attract massive crowds to Vegas were able to work their magic either, explained Jonas, who cited the major <a href=\"https:\/\/www.conexpoconagg.com\">CON\/AGG convention<\/a> with 140,000 attendees that failed to boost Strip cash flow meaningfully. <\/p>\n<p>Jonas said hotel occupancy and tourism bottomed in the first quarter, while revenue per available room went up by 5%.<\/p>\n<p>Still, he noted ongoing weakness in leisure travel. <\/p>\n<blockquote><p>We don\u2019t think it was enough to offset overall softness in the leisure segment with the well-known challenges at the low end, softer international visitation and value-perception issues<\/p><\/blockquote>\n<p>Some operators are trying to adjust. Jonas used the examples of <em>Caesars Entertainment<\/em> and <strong>MGM Resorts International<\/strong>, two important venues that have leaned into bundled hotel packages at lower-end properties. <\/p>\n<blockquote><p>Still, it remains to be seen what sort of upside this will yield<\/p><\/blockquote>\n<p>Price trends in Las Vegas hotels have also been uneven, with rates dropping early in the year, improved in March, then fell again in April before rebounding strongly into May and June.<\/p>\n<p>Regional casinos, in the meanwhile, remain more stable, with Station Casinos seeing short-term pressure from renovations, and <strong>Boyd Gaming<\/strong> facing mixed results at its destination properties.<\/p>\n<p>However, both properties benefit from steady local demand as well as new developments like <strong>Cadence Crossing<\/strong>.<\/p>\n<p>Finally, Jonas made sure to also highlight the stronger performance recorded by Penn Entertainment and Boyd, while explaining that Monarch and Churchill Downs stand out for asset quality and upcoming events like the Kentucky Derby. The latter is expected to bring in between $15 to $20 million in cash flow.<\/p>\n","protected":false},"excerpt":{"rendered":"Summary: The Las Vegas Strip continues to struggle while regional casinos are showing a stable form, according to a new analysis. Barry Jonas believes online gambling is facing ongoing pressure from prediction markets and online sports betting. Caesars and MGM showed mixed trends, while Penn Entertainment and Boyd recorded strober performance. Gaming stocks remain out [&hellip;]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3564","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vegas Analysis: Gaming Stocks Are Still Weak, Regional Casinos Hold Steady<\/title>\n<meta name=\"description\" content=\"A Truist analyst has expressed his new views on Las Vegas trends, pointing out to steady performance from regional casinos and struggling operators on the Strip.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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