Las Vegas in particular is jammed wall to wall on weekends and according to my key intelligence network associates, weekdays are remarkably strong as well. Also the overall tone of revenue and arrivals at major gaming destinations remains highly positive. On the one hand, happy data for GDP growth, consumer spend. This poses a dilemma in our view for holders of gaming and wagering stocks. Recession risk gaming sector: While latest reports continue to show a strong consumer component driving the economy, at the same time, recurring opinion that a recession will indeed arrive soon increases. Its diverse revenue streams insulate it best from recession.
MGM's footprint is the most global in the sector.The cyberattack on MGM Resorts International ( NYSE: MGM) of September 10th could be mitigated by insurance and is reason why management refused to pay ransom.Above: The MGM lion roars across the entire global gaming sector.
