Unemployment is closing in on an 18-year low, according to an Aug. 3 report from the Bureau of Labor Statistics. However, US employers added only 157,000 jobs last month, a result far shy of the estimated 193,000.
Owner of Caesar's Palace in Las Vegas, VICI Properties (VICI) CEO Ed Pitoniak still thinks the report is overall good news for the gaming business.
"For the gaming sector in particular, we believe it will be very positive, especially because so much of this job growth, and so much of this income growth is happening in regions of the country where we do happen to have assets," said Pitoniak.
VICI reported its Q2 earnings on Aug. 2, topping analyst estimates by 1 cent in the midst of a volatile week for the gaming industry -- on Wednesday, shares of Caesar's Entertainment (CZR) halted trading in response to fears about Vegas hotel bookings.