morongo casino keith sweat“These are short sellers that are incurring losses while paying a steep premium to stay in those equities.”No ga(NYSE:MAR) among shorts’ preferred COVID-19 bets. The 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. casino player club indexBut it’s getting harder for some of those traders to hold onto those bearish tickets.Over the past month, shares of the Encore operator are higher by 82.38 percent, and the stock is up 116 percent from its 52-week low. In 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. (NYSE:RCL), and Marriott International Inc. foxwoods resort casino grand pequot tower

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black bear casino spa“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:MAR) among shorts’ preferred COVID-19 bets. The investment plans also called for an additional 42,000 square feet of convention space.That’s not all. Some of the losses were offset by internet gaming, which continues to operate unimpeded.April GGR from brick-and-mortar casinos will total $content$ in April. The investment plans also called for an additional 42,000 square feet of convention space.That’s not all. 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. fanduel casino michigan promo code