Below is a chart and brief excerpt from today's Early Look written by Gaming, Lodging, & Leisure analyst Todd Jordan.
Through Covid we’ve mostly focused our efforts domestically and it has been fruitful. Sports betting is exploding but so have marketing and promotional costs – we’ve been negative on the space – while legacy brick & mortar casinos have undergone major business model changes, all for the better. Accelerating leisure spend has been a big theme of ours and we continue to see better than expected leisure travel to benefit the OTAs and timeshare companies. The global uncertainty will likely keep our focus here – there’s still a lot to do. |