As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at casino operator stocks, starting with Boyd Gaming (NYSE:BYD).

Casino operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.

The 9 casino operator stocks we track reported a slower Q3. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: Boyd Gaming (NYSE:BYD)

Run by the Boyd family, Boyd Gaming (NYSE:BYD) is a diversified operator of gaming entertainment properties across the United States, offering casino games, hotel accommodations, and dining.

Boyd Gaming reported revenues of $961.2 million, up 6.4% year on year. This print exceeded analysts’ expectations by 4.8%. Overall, it was a strong quarter for the company with a decent beat of analysts’ Non-Gaming revenue and EBITDA estimates.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Our Company continued to produce solid results in the third quarter, as underlying customer trends remained stable."

Boyd Gaming scored the biggest analyst estimates beat of the whole group. Unsurprisingly, the stock is up 14.3% since reporting and currently trades at $73.55.

Is now the time to buy Boyd Gaming? Access our full analysis of the earnings results here, it’s free.

Monarch (NASDAQ:MCRI)

Established in 1993, Monarch (NASDAQ:MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences.

Monarch reported revenues of $137.9 million, up 3.7% year on year, outperforming analysts’ expectations by 2.9%. The business had a strong quarter with a decent beat of analysts’ EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 13.6% since reporting. It currently trades at $83.68.

Is now the time to buy Monarch? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Wynn Resorts (NASDAQ:WYNN)

Founded by the former Mirage Resorts CEO, Wynn Resorts (NASDAQ:WYNN) is a global developer and operator of high-end hotels and casinos, known for its luxurious properties and premium guest services.

Wynn Resorts reported revenues of $1.69 billion, up 1.3% year on year, falling short of analysts’ expectations by 2%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 10% since the results and currently trades at $86.10.

Read our full analysis of Wynn Resorts’s results here.

PENN Entertainment (NASDAQ:PENN)

Established in 1982, PENN Entertainment (NASDAQ:PENN) is a diversified American operator of casinos, sports betting, and entertainment venues.

PENN Entertainment reported revenues of $1.64 billion, up 1.2% year on year. This number came in 1% below analysts' expectations. Overall, it was a disappointing quarter as it also produced a significant miss of analysts’ EBITDA and non-GAAP EPS estimates.

The stock is up 10.6% since reporting and currently trades at $21.28.

Read our full, actionable report on PENN Entertainment here, it’s free.

MGM Resorts (NYSE:MGM)

Operating several properties on the Las Vegas Strip, MGM Resorts (NYSE:MGM) is a global hospitality and entertainment company known for its resorts and casinos.

MGM Resorts reported revenues of $4.18 billion, up 5.3% year on year. This result came in 0.5% below analysts' expectations. It was a softer quarter as it also produced a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

The stock is down 8.3% since reporting and currently trades at $37.97.

Read our full, actionable report on MGM Resorts here, it’s free.

Market Update

Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market has thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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