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'Macau's At A Crossroads' According To Susquehanna; Price Targets Reduced
Friday, June 12, 2015 - 10:01am | 355Read More...In a report published Friday, Susquehanna Financial Group analyst Rachel Rothman described Macau's gaming market as being at a crossroad given rumors of a complete smoking ban, table count concerns, additional supply coming and gaming revenue declines. Rothman noted that after a year of "...
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Sterne Agee CRT Warns Of Faltering Casino Industry
Monday, June 8, 2015 - 9:57am | 234Read More...In a report published Monday, Sterne Agee CRT analyst David Bain reported that table-only gross gaming revenue in Macau, China between June 1 and June 7 was only $410 million, a 46 percent decline year-over-year. He expects a 33 to 38 percent year-over-year fall in revenue for the month. Wynn...
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Macau Records 12th Consecutive Month Of Gaming Revenue Declines
Monday, June 1, 2015 - 10:02am | 367Read More...According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of May came in at 20.3 billion patacas, about 37 percent lower than May, 2014. Shares of Melco Crown Entertainment Ltd (NASDAQ: MPEL), Las Vegas Sands Corp. (NYSE: LVS), MGM Resorts...
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Barclays Analyst: 'Too Early To Call A Bottom' In Macau
Friday, May 15, 2015 - 9:21am | 347Read More...In a report published Friday, Barclays analyst Felicia Hendrix commented on the Macau gaming market, noting that it is "too early to call a bottom" due to the ongoing and persistent headwinds facing the market. Hendrix noted that many investors are focusing on when recent sharp declines in gross...
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Nomura Talks Macau, Still Doesn't Like Melco Crown
Thursday, May 14, 2015 - 11:00am | 344Read More...In a report published Thursday, Nomura analyst Harry Curtis suggested that investors should avoid investing in casino operators with exposure to the Macau market. According to Curtis, Macau market estimates are beginning to reflect the reality of daily gross gaming revenue of 600 million to 700...
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Macau Appeals Court Rejects Suit Vs. Las Vegas Sands
Tuesday, May 12, 2015 - 7:26am | 177Read More...A Macau appeals court reportedly rejected a $375.7 million lawsuit against the China unit of Las Vegas Sands Corp. (NYSE: LVS). The suit was brought in 2012 by Asian American Entertainment Corp. and claimed that Sands breached a 2001 an agreement to jointly obtain a Macau casino license....
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Macau Earnings Season Mercifully Ends With Melco Crown's Miss
Thursday, May 7, 2015 - 12:09pm | 404Read More...Shares of Asian casino operator Melco Crown Entertainment Ltd (NASDAQ: MPEL) were up 2.3 percent Thursday following the company’s Q1 earnings release. Melco reported earnings of $0.16 on revenue of $1.054 billion for the quarter, missing Wall Street consensus estimates of $0.23 EPS and $1....
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Macau's April Gaming Revenue Indicates Market Could Be Stabilizing
Monday, May 4, 2015 - 12:51pm | 444Read More...It’s not often that the market sees news of a 38.8 percent year-over-year drop in revenue as a good thing, but that’s the case for stocks of Macau casino operators today. According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month...
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Bank Of America Previews Gaming, Wynn Earnings
Tuesday, April 28, 2015 - 12:15pm | 267Read More...In a report published Monday, Bank of America analyst Shaun Kelley stated that Macau's total visitation in March was down 13.5 percent, marking the first double-digit decline since 2009. Kelley said Macau's declining traffic trend was attributed to a 17.6 percent decline in visitors from mainland...
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A Rocky Earnings Season For Macau Gaming Sector?
Thursday, April 23, 2015 - 9:04am | 440Read More...Las Vegas Sands Corp. (NYSE: LVS) may miss expectations when it kicks off the first-quarter earnings season for Macau gaming stocks, an analyst said. Deutsche Bank's Carlo Santarelli recently trimmed 4 percent from his target on Sands to $47 and sees the company's first-quarter adjusted...
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Morgan Stanley Says Macau Worse Than Expected, Singapore And Vegas 'Roughly' In Line
Thursday, April 23, 2015 - 9:02am | 289Read More...In a report published Thursday, Morgan Stanley analyst Thomas Allen commented on Las Vegas Sands Corp. (NYSE: LVS)'s first quarter results in which Macau EBITDA was worse than expected while Singapore and Las Vegas were "roughly" in-line with expectations. Allen noted that Macau EBITDA of $528...
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J.P. Morgan Trims Macau Estimates, Maintains Overweight Ratings
Wednesday, April 22, 2015 - 8:52pm | 394Read More...In a new report, analysts at J.P. Morgan have trimmed their 2015 property-level revenue estimates for Macau based on the latest monthly gaming numbers. Despite the revision, analysts remain bullish on a pair of big casino names. No Surprises In the report, analysts point out that the market...
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Barclays 'Cautious On Magnitude' Of Macau Recovery
Thursday, April 16, 2015 - 12:20pm | 354Read More...In a new report, analysts at Barclays explained their position on Macau gaming operators. Despite a positive overall view on Macau, analysts downgraded Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) and the Macau units of Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (...
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Credit Suisse Cuts Macau Revenue Forecast Through 2016
Tuesday, April 14, 2015 - 11:45am | 374Read More...In a new report, analysts at Credit Suisse summarized their take on Macau gaming stocks. Analysts believe that share prices of gaming stocks reflect an overly-optimistic fundamental view. Weakening Fundamentals Analysts feel that the fundamental picture in Macau is still weakening. Despite a...
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J.P. Morgan Slashes Wynn Target, But Still Likes Macau
Friday, April 10, 2015 - 11:16am | 390Read More...In a recent report, analysts at J.P. Morgan updated their outlook for Wynn Resorts International (NASDAQ: WYNN). While analysts lowered their Q1 earnings estimates and reduced their price target on Wynn’s stock, they maintain their Overweight rating and remain bullish on Macau long-term....
