Morgan Stanley sees Vegas comeback, and trader says one stock is best

SourceCNBC
SectorFinancial Markets
CountryGulf

Casino stocks are feeling lucky. With the vaccine rollout well on its way, gambling destinations are seeing a big recovery. Morgan Stanley on Monday upgraded Caesars Entertainment and MGM Resorts to overweight on what they see as a "fast, strong recovery" for Las Vegas. Both stocks gained on the upgrade. Mark Tepper, CEO of Strategic Wealth Partners, told CNBC's "Trading Nation" on Monday that Las Vegas is gearing up for visitors. "Airline tickets from Cleveland to Vegas have quadrupled over the last few months. My boots-on-the-ground research informs me that the pool party staff at the hotels have been rehired.

They're getting ready for an influx of people right now," said Tepper. Tepper agrees with Morgan Stanley that one of the Vegas Strip casinos looks to be the best bet on the recovery: MGM Resorts. "You've got a great sports club exposure, you've got fantastic properties that focus on the non-high roller gambler. ... You've got pricing power coming back, and you've got an absolute...read more...