Another shakeup in the gaming analyst community
There has been another change-up in the roster of gaming analysts.
Joel Simkins left Macquarie Securities recently and will land this fall at Credit Suisse to become the firm’s lead equity analyst covering the gaming, lodging and leisure industries.
Chad Beynon, who also followed the gaming industry for Macquarie, will replace Simkins at the firm.
Beynon, who also spent time following gaming at Prudential Securities, has also provided investment research on the movie theater industry for Macquarie.
He plans to follow casino operators MGM Resorts International, Las Vegas Sands Corp., Wynn Resorts, Penn National, Isle of Capri, Ameristar, Boyd Gaming Corp and Pinnacle Entertainment; along with slot machine makers International Game Technology, Bally Technologies and WMS Industries.
Beynon said Macquarie has global gaming coverage in Hong Kong (for Macau) and Malaysia (for Singapore) that he plans to leverage from.
The change follows other recent job switches among the gaming analyst community.
Robert LaFleur, who was unexpectedly bounced in February by Susquehanna Financial Group, joined Connecticut-based Hudson Securities as the firm’s gaming, lodging, and leisure analyst.
Rachael Rothman, formerly of Wedbush Morgan, replaced LaFleur at Susquehanna.
Meanwhile, Oppenheimer’s David Katz bolted his firm after eight years for a similar position at Jefferies & Co.
There is traditionally a several-month lag time when analyst leaves a firm before he or she can provide research on to clients.