Wells Fargo analyst Daniel Politzer said meetings with management from Caesars Entertainment (NASDAQ:CZR) at G2E indicated that Las Vegas seems to be getting better by the day. On the digital side of the business, the sports betting numbers out of Las Vegas and Nevada are still strong, despite the widespread adoption of legalized sports betting. The G2E casino updates this week also included more buzz over the long-awaited Fontainebleau Las Vegas luxury hotel that is set to open on December 13. The huge $3.7B project on the north end of the Las Vegas Strip was first announced in 2005, but was disrupted by the economic collapse in 2008-2009 and the original owners declared bankruptcy. Meanwhile, Sphere Entertainment's (NYSE:SPHR) Las Vegas Sphere attraction has been a traffic driver and social media sensation that is expected to not slow down anytime soon.

Source: New York Times October 12, 2023 10:35 UTC