Post-Covid ‘Sugar High’ Wearing Off in Vegas

The Las Vegas Strip is burning off the sugar high of post-Covid. Chad Benyon sees weakness in the “mid-end” and thinks that downside risk remains for 3Q estimates in the sector. He likes Wynn Resorts (WYNN) and thinks sports betting will remain strong next year. In general, he thinks Vegas has gained market share for conventions and other big events, but prices might have been pushed too high.

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