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Bernstein Says A Few Macau Stocks Are Worth A Bet
Monday, March 23, 2015 - 4:48pm | 306Read More...Long-suffering Macau casino stocks might merit a bet, but their fast-growth days are done, an analyst said Monday. Bernstein's Vitaly Umansky forecast that Macau's deceleration in revenue growth is now in a trough, with a bottom coming in late 2015. The hyper-fast growth of 17 percent...
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Brean Goes Contrarian, Says To Buy Macau Casino Names
Thursday, March 19, 2015 - 8:11am | 481Read More...The world's largest gaming market has been a source of disagreement among analysts in recent months. In the midst of a slew of downgrades and revenue forecast reductions, Brean Capital is the latest to weigh in on Macau, initiating Buy ratings on the four major casino operators in Macau....
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Activist Investor Explains Why Converting Into A REIT Is The Right Thing For MGM To Do
Wednesday, March 18, 2015 - 1:40pm | 424Read More...Shares of MGM Resorts International (NYSE: MGM) spiked on Tuesday's opening and continued to trade higher, closing the day up by over 10 percent. The reason behind this sudden spike was perhaps spurred most strongly by news that activist investors are proposing to convert the company into a...
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Casino Stocks Lower As 2 Analysts Issue Bearish Comments
Tuesday, March 10, 2015 - 11:33am | 507Read More...Casino stocks on Tuesday traded lower as analysts from both Deutsche Bank and Credit Suisse issued bearish comments and a weak outlook for the industry. Shares of Melcro Crown Entertainment Ltd (NASDAQ: MPEL) and MGM Resorts International (NYSE: MGM) were trading lower by around 3 percent...
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Macau Revenue Drop In February Not As Bad As Expected
Tuesday, March 3, 2015 - 6:01pm | 418Read More...It's not often that news of a 48.6 percent year-over-year drop in revenue will have little effect on stocks, 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 of...
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Stifel: Macau Stocks To Outperform In FY15
Thursday, January 15, 2015 - 4:23pm | 247Read More...Macau casino companies are oversold and will outperform the broader stock market in 2015, according to an analyst who said investor sentiment toward the group has hit a low point. Stifel's Steven M. Wieczynski reiterated Buy ratings Thursday on MGM Resorts International (NYSE: MGM) with a $...
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Is Melco Crown Entertainment's Free Fall Finally Over? A Technical Look
Saturday, January 10, 2015 - 4:24pm | 616Read More...After a 10-month long and more than 50 percent decline from peak to trough, is the collapse in Melco Crown Entertainment Ltd (ADR)’s (NASDAQ: MPEL) share price finally over? A technical assessment of Melco’s recent trading indicates that shareholders may finally have some reasons for...
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Nomura Comments On Macau's Growth Outlook
Friday, January 9, 2015 - 11:07am | 129Read More...Harry Curtis of Nomura commented in a note on Friday that based on commentary from his primary data source in Macau, the current level of tables at Macau casinos may be “as good as it gets” and that the “current table allocations if well managed may possibly be sufficient to cope with demand.”...
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Credit Suisse: Macau Gaming 'Likely Not Far From A Bottom'
Thursday, January 8, 2015 - 1:37pm | 323Read More...According to a recent report, Credit Suisse analysts believe the Macau gaming market is near a bottom. Analysts are recommending investors start slowly building positions in gaming stocks. After a 6 percent drop in gaming revenue in 2014, Credit Suisse is forecasting a 13 percent increase in...
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Credit Suisse: Wynn Macau At Risk Of Cutting Its Dividend
Thursday, January 8, 2015 - 11:14am | 226Read More...In a note to clients on Thursday, Kenneth Fong of Credit Suisse suggested that Wynn Resort, Limited's (NYSE: WYNN) subsidiary Wynn Macau is at risk of slashing its dividends. “In light of the risk of earnings deterioration in 2015 but ongoing capex requirement for the upcoming...
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Jim Cramer Advises His Viewers On Wynn Resorts And Second Sight Medical Products
Tuesday, January 6, 2015 - 8:53am | 111Read More...On CNBC's Mad Money, Jim Cramer said that Wynn Resorts, Limited (NASDAQ: WYNN) is struggling on weak Macau numbers. He is not bullish on China and he thinks that the numbers from Macau were horrendous. Cramer would not buy Second Sight Medical Products Inc (NASDAQ: EYES) either because in the...
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UPDATE: Morgan Stanley Upgrades Melco Crown Entertainment
Monday, January 5, 2015 - 1:46pm | 317Read More...Analysts at Morgan Stanley recently upgraded Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) from Equal-weight to Overweight and setting a $28 price target. Melco owns and operates casino and entertainment properties in Macau, China. The Numbers Analyst Praveen Choudhary believes...
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Bank Of America Highlights Macau's Large YOY Gross Gaming Revenue Decline
Friday, January 2, 2015 - 10:22am | 171Read More...Billy Ng of Bank of America highlighted in a note on Friday that Macau's December's Gross Gaming Revenue (GGR) 30 percent year-over-year decline was weaker than expected. According to Ng, December's GGR was the lowest since November 2011 and was weaker than the 22 percent year-over-year decline...
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Bank Of America: Macau's Gross Gaming Revenue Improved, Highlights Other News Developments
Tuesday, December 30, 2014 - 10:10am | 315Read More...Billy Ng of Bank of America commented in a note on Tuesday that Macau's daily Gross Gaming Revenue (GGR) run-rate for the past two weeks improved to MOP752 million (~$94.12 million) from MOP698 million in the week before, implying a 7 percent increase. Ng notes that the uptick followed...
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Top 10 U.S. Gambling Destinations
Wednesday, December 24, 2014 - 8:37am | 525Read More...Over the past few years, the world gaming market has been all about Macau, China, the world’s largest and fastest-growing gambling Mecca. However, as revenue in Macau has started to drop in 2014 for a number of reasons, the U.S. gambling market has become the focus of many investors....
