casino stocksonal economies and employing thousands of workers, the closure of New Jersey’s casinos has no doubt cast a huge shadow on Atlantic City and New Jersey’s tourism industry,” Assembly Majority Leader Louis D. (Image: Reuters)With shelter-in-place policies and casino shutdowns the orders of the day starting in March, shorting gaming equities became one of 2020’s easiest and most profitable trades…until it wasn’t. Count Churchill Downs (NASDAQ:CHDN) and DraftKings (NASDAQ:DKNG) among the gaming stocks making life uncomfortable for short sellers. boulder station casino bingo“There was +.10 billion of net short selling in the sector from March to May, with 0 million of new short selling executed over the last month. There is some data suggesting short sellers in gaming stocks got a little too greedy.“Over the last week, Casino & Gaming short sellers gave back a quarter of their mark-to-market profits, losing -8 million of their +.40 billion stack of chips,” adds Dusaniwsky.During that time, DraftKings and Boyd were two of the four biggest problems for short sellers.Surprise ScenarioIn what can be described as surprisi“DraftKings short sellers had been net short sellers for the first three weeks of last month, adding 3 million of short exposure. wild joker casino no deposit codes 2021

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live casino 747“The legislation released from today’s committee will work in complement to provide a fiscal path forward for an industry that has been devastated by the effects of this pandemic. Some traders are flirting with trouble with short positions in gaming stocks. Sweeney has also called on the governor to allow the gaming floors to reopen.Though there seems to be widespread support for the two casino bills, the Press of Atlantic City’s David Danzis reports Assemblymen Vince Mazzeo and John Armato, both Democrats representing Atlantic County, expressed hesitation. 7 feathers casino buffetBut Delaware’s three casinos – Dover Downs, Delaware Park, and Harrington – reopened June 1.Three casinos in western Pennsylvania could also open as soon as this weekend.Some traders are flirting with trouble with short positions in gaming stocks. They are potentially signaling that these names and others could offer some near-term upside as bearish traders rush to cover. twin river casino covid 19

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the borgata casino appThere is some data suggesting short sellers in gaming stocks got a little too greedy.“Over the last week, Casino & Gaming short sellers gave back a quarter of their mark-to-market profits, losing -8 million of their +.40 billion stack of chips,” adds Dusaniwsky.During that time, DraftKings and Boyd were two of the four biggest problems for short sellers.Surprise ScenarioIn what can be described as surprisiWith stay-at- home directives now largely lifted, a slew of regional casinos open, and Nevada gaming properties joining the fun on June 4, being bearish on gaming stocks carries immense near-term risk.Short sellers have lately begun trimming their exposure in the sector, after having shorted the sector heavily during the stay-at-home policies brought about by the Covid-19 pandemic,” said S3 Partners Managing Director Ihor Dusaniwonline casino bonus codes no depositsky in a note obtained by Casino.org. Greenwald (D-Burlington, Camden) said in a release. Senate President Stephen Sweeney (D) is behind the Atlantic Casino relief bills in the upper chamber. But recently, we have seen short covering in the sector, with - million of net short covering executed over the last week.”Dusaniwsky notes S3 covers 61 stocks in the casino and gaming sector, which have aggregate short interest of .16 billion, 95 percent of which is devoted to the 10 most-shorted names.Messing With FireBelieve it or not, bearish traders sunk their teeth into DraftKings, a stock that’s more than doubled since its April 24 initial public offering (IPO).“DraftKings (DKNG) saw the largest change in short seller sentiment, with short selling turning into short covering by the end of the May,” said Dusaniwsky. Some traders are flirting with trouble with short positions in gaming stocks. big dollar casino 100 no deposit bonus codes 2020