santa ana casino shuttleIn the wake of the COVID-19 pandemic that’s bludgeoning travel and leisure equities, casino and cruise line operators are among bearish traders’ favored destinations.With first-quarter earnings season in full swing and economic data deteriorating rapidly, short positions in virus-sensitive consumer cyclical stocks could be rewarded.When we see a strong move in one direction, where we think the fundamentals and the news can turn ugly, especially during an earnings cycle, we think that’s an opportunity where we could see a 5,10% selloff again,” said Jerry Braakman, chief investment officer at First American Trust, in an interview with the Wall Street Journal.Short sellers borrow shares on margin and look to buy the stock back at a later time at a lower price. The investment plans also called for an additional 42,000 square feet of convention space.That’s not all. Wynn Resorts (NASDAQ:WYNN) is among the travel and leisure stocks that remain favored targets of short sellers looking to identify names vulnerable to coronavirus volatility. caesar casino florida“It is because of this optimism that we are suspending the dividend so that we have maximum optionality in pursuing our strategic vision and in producing future returns.”(NYSE:CCL), Royal Caribbean Cruises Ltd. Short sellers continue targeting Wynn stock, but they’re playing wcasino near me edmontonith fire. mohegan sun casino mall

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online blackjack michiganof the Poarch Band of Creek Indians in Alabama, celebrated its expansion into Pennsylvania when the deal closed.One of the most profitable of the 12 casinos in Pennsylvania, Wind Creek quickly announced that in addition to buying the resort, it was moving forward with a million hotel expansion to increase the number of occupancies by 276 rooms. The investment plans also called for an additional 42,000 square feet of convention space.That’s not all. Casinos won 3.48 million last month, down from 6.27 million in March 2019. hallmark casino withdrawal methodsWynn Resorts (NASDAQ:WYNN) is among the travel and leisure stocks that remain favored targets of short sellers looking to identify names vulnerable to coronavirus volatility. For traders betting against Wynn, there is scasino near me edmontonome good news: the stock isn’t viewed as one of the most vulnerable to a short squeeze – the scenario where bearish traders are forced to cover their positions, likely at losses.“The stocks most susceptible to short squeezes are those with high stock borrow costs and large mark-to-market losses,” said S3 Partners Managing Director Ihor Dusaniwsky in a note out last week. But the gaming equity could put the hurt on bearish traders. free online slot games

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admiral casino harrowThe risk in this strategy is substantial, because there’s no limit to how high an equity can go.Wynn Shorts Looking DangerousLate February and essentially all of March were rewarding times to short casino equities, including Wynn. (NYSE:CCL), Royal Caribbean Cruises Ltd. The casino reported GGR of just .66 million, a 71.2 percent decline from the same month in 2019.Less is MoreWith every commercial casino in the United States closed, the less exposure, the better is currently the case for gaming industry operators.Following its sale of Bethlehem, Las Vegas Sands only has casinos in Las Vegas, Singapore, and the world’s richest gambling hub of Macau.Last week, Sands owner Sheldon Adelson, who, along with his wife, Miriam, controls nearly 57 percent of the publicly traded company, announced it was temporarily doing away with its dividend. Even when the Commonwealth begins reopening certain businesses, casinos aren’t expected to be included in initial phases.In March, Wind Creek Bethlehem – as the former Sands Bethlehem resort casino near me edmontonis now called – was the largest year-over-year loser. Wind Creek said it’s considering plowing as much as 0 million into the adjacent No. Short sellers continue targeting Wynn stock, but they’re playing wcasino near me edmontonith fire. mohegan sun casino new york