what are you doing with melco? >> i've been adding to krcasino and the critical for lvs and wynn, and i have been long for a long time and i've been waiting for a couple of things first was on the 25th, the renewal of macau gaming licenses was an important moment. and the second is the whole str covid dynamic. i know they've held the stocks back but that is been an opportunity to bhuy now with that we've seen major upgrades in the space. what you're supposed to be doing is starting to sell upside calls in the out to the first quarter. i think you'll see a pullback. you've had over 100% move in melco. vegas sands, i think you have more room to run where the ebidta went from high teens to basically single-digits, mid single-digits. and think even at 11 or 12 times lvs astill attractive. >> last word, courtney. >> it is a china reopening trade which i think has so many false starts but i think you're starting to see that is really becoming viable but it is not yet priced into a lot of companies. >> coming up, is it ti

. >> gaming stock melco. mike, what are traders saying the about this one >> yeah, this is one of the single stocks that also saw some outside trading activity saw big purchases of the january 12 calls you'll take a look at the chart, notice we're getting to a difficult level. this is up more than 30% off the lows i'm kind of with tim here. i think some of this re-opening trade, this is going to be one of the beneficiaries this is a way somebody can risk less purchasing the stock. but notice the volatility priced into these things. 90 cents doesn't sound like a lot for an options contract, but remember, you're dealing with stock. given the kinds of moves we're seeing, i can understand why this institutional trader is playing to the long side in this risk mitigated way tim, you on this one >> i was selling some of those calls last week, so looking at the january, looking at the move on the stock, it's almost tripled. i think it's going to continue to go higher, but i think we're going to see volatility into th

be so much optimism about 2023 the good news may already be baked in quarter to date, for instance, melco is up 65%. the optimism is extremely muted based on multiple conversations i had, it doesn't matter whether the government eases travel restrictions if no one is willing to travel. covid infections are soaring in mainland china it expects 2023 gaming revenue roughly to match this years, and boy, was this a bad year down 99% from november 2019 before the pandemic. so right know everyone is just waiting and watching with bated breath >> you can't predict the timeline, either probably little natural immunity there, very little coverage with their own vaccine. is anybody guessing when this may reverse? >> no, i think what they're thinking now, look at singapore -- high net worth individuals are head to go singapore, spending big, and they're charging boatloads of money. they're hoping a vegas-style rebound is possible in macau, but a lot of it depends on people feel safe to go back. right now china is not there >> contessa, thank you very much jim, very quickly, you own wynn. >> i think c

but the covid surge across china is reining in expectations patience is still a virtue wynn resorts, melco and mgm. what recession casinos across the united states are doing a booming business, in spite of inflation that seems to have affected other areas. boyd, bally's, and red rock are watching for cracks. third, las vegas on steroids this has been a record setting year for profits on the trip 2023 could propel sin city to new highs, a packed convention calendar entertainment -- adele, hello. and sports, in the fall. mgm and caesars are the biggest operators on the strip gambling is expanding. chicago is getting its first casino new york city licenses will be given out. texas is seriously considering legalizing sports gambling but concerns over problem gambling pose new hurdles. 2023 will be an exciting year in gaming, you can bet on that. kelly? >> mark douglas last hour saying he thinks f-1 will be the biggest vegas event ever >> i've already booked my travel >> are you serious >> 100%. there used to be a vegas -- there was one year -- i think it was 70 -- 1978, '79. even contessa's do

look at melco. shares up triple digits over the last three months -- we don't have it up it's really incredible performance from those stocks. >> that's asia, what about the u.s. what about vegas it seems like it's hopping can that keep up >> they've seen a huge postpandemic rebound what seeing is, look, there is a warning for investors. gaming stocks tend to overcorrect when you have negative revisions if the consumer gets hurt, that could affect them. look at the gaming rates which the tenants have positive balance sheets look at the digital providers like sport radar and look at those with huge presence in las vegas. if you're looking at, for instance, caesar's and mgm resorts, you have a packed events calendar and the return of international travel. all of that should still see las vegas with even more ramp coming in 2023. >> all right well, investors have to play the hand they're dealt contessa, thank you. >> yeah, she's the best with the quick pun. >>> docusign surging up 14%. but the company