27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
With revenue in the world's largest gaming destination — Macau, China — still depressed, casino investors are looking to the state of Nevada for some much-needed revenue growth this year.
The state's gaming control board has released its report on gaming revenue for the month of August. Here's a brief overview.
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The Numbers
Nevada's non-restricted gaming licensees reported a total "gaming win" of $860.6 million in August, a 5.2 percent year-over-year decrease.
August’s number was a deviation from the relatively strong performance by Nevada casinos in the past year. Statewide revenue is up 1.2 percent year-over-year since September 1, 2015.
Related Link: Deutsche Bank Sets Some Reasonable Near-Term Expectations For Macau Gaming Stocks
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Las Vegas Strip
More than $449 million (about 52 percent) of Nevada's total gaming win in August came from the Las Vegas Strip.
Shareholders of strip mega-resort operators Wynn Resorts, Limited (NASDAQ: WYNN), Las Vegas Sands Corp. (NYSE: LVS), MGM Resorts International (NYSE: MGM) and Caesars Entertainment Corp (NASDAQ: CZR) are watching Strip numbers closely.
Win numbers for the Vegas Strip were down 14.7 percent year-over-year in August following July’s 16.7 percent gain. In the past 12 months, Strip revenue is up about 1.0 percent year-over-year.
Downtown Vegas
Historic Downtown Las Vegas, which has performed extremely well in recent months, followed a solid July with a 7.0 percent year-over-year revenue gain in August.
In the past 12 months, Downtown Vegas revenue is up 4.8 percent, one of the strongest growth numbers of any region in the state.
Shares of Boyd Gaming Corporation (NYSE: BYD), which operates three downtown casinos, are up 26.4 percent in the past year.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.