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Casino operator stocks rise 16.5% on average after mixed Q1 earnings
Consumer discretionary casino operator stocks tracked by this publication rose an average of 16.5% since their latest earnings results, following a mixed first quarter in which aggregate revenues beat analyst consensus estimates by 1.6%. Flutter Entertainment reported revenues of $4.30 billion, up 17.4% year on year and 4.9% above expectations, while Monarch posted the biggest beat with revenues of $136.6 million, exceeding estimates by 5.2%. Bally's delivered the fastest revenue growth at 23.7% to $755.7 million but missed analyst estimates by 1.8% and had the weakest performance against EPS expectations. Wynn Resorts reported $1.86 billion in revenue, beating estimates by 1.8%, and Red Rock Resorts posted $507.3 million, in line with expectations.