Chad Benyon looks at expectations for the box office and gaming in 2025. He discusses the potential tariff impacts on Macau, saying current expectations are “too bottomed out”. His pick in the sector is Wynn Resorts (WYNN). He thinks that in 2025, box office debuts will finally rebound to 2019 levels. “The big thing here is the operating leverage,” he adds. He recently upgraded AMC Entertainment (AMC), despite saying the stock hasn’t traded on fundamentals for a long time.