CHA-CHING! Get Long Las Vegas… Buy This Stock
The U.S. economy is heating up, and so are Las Vegas slot machines.
Think about it.
“One of the most obvious ways to get long consumer discretionary spending is to get long Las Vegas,” says Hedgeye CEO Keith McCullough. And if you want a pure play on Vegas, the stock to buy is Red Rocks Resorts (RRR), McCullough says.
It’s a stock our Gaming, Lodging and Leisure analyst Todd Jordan likes.
“We are starting to see what appears to be somewhat of a locals renaissance, which bodes well for Red Rocks Resorts (RRR) which derives most of its EBITDA in the LV locals market,” Jordan wrote recently.
“Add in a potential value creating real estate transaction, and this 2018 and beyond story is quite compelling.”
A compelling opportunity indeed.