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Casino Stocks Gain On Macau News, Japan Legislation & Debt Restructuring Deal
Friday, June 27, 2014 - 10:42am | 566Read More...Casino stocks saw gains in Thursday's market on Macau news, Japan's gaming approval, and talks surrounding a debt restructuring deal financing investments in Japan. Shares of Las Vegas Sands (NYSE: LVS), Melco Crown Entertainment (NASDAQ: MPEL), Wynn Resorts (NASDAQ: WYNN), MGM Resorts (...
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Opportunities & Risk Surrounding 9 Casino Stocks, According to Morgan Stanley
Wednesday, June 18, 2014 - 3:04pm | 851Read More...Morgan Stanley and Morgan Stanley Asia Limited gave an overview on casino stocks in Las Vegas and Macau. U.S. Outlook Overview Morgan Stanley analyst Thomas Allen lowered 2014 Macau growth estimates in a note published Tuesday. Despite near-term concerns, the analyst remains confident for...
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UPDATE: Morgan Stanley Downgrades Melco Crown Entertainment
Wednesday, June 18, 2014 - 9:43am | 236Read More...In a note released Wednesday morning, Morgan Stanley analysts downgraded shares of Melco Crown Entertainment (NASDAQ: MPEL) from Overweight to Equal-weight and cut the price target from $43 to $36. The Good The team over at Morgan Stanley believes Melco could have a better second quarter than...
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Macquarie Comments on U.S. Gaming Operators
Tuesday, June 17, 2014 - 2:28pm | 250Read More...In a note released Tuesday, the analysts at Macquarie Research provided insight into how to play the U.S. Gaming Operators amid flat year-over-year gross gaming revenue (GGR) through the June 15 and the transition from low-margin VIP to higher margin mass market. In the near-term, the team is...
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Wells Fargo Lowers June Macau Revenue Growth Amid World Cup
Monday, June 16, 2014 - 3:29pm | 101Read More...Wells Fargo analyst Cameron McKnight lowered June Macau gaming revenue growth following recent checks. McKnight lowered June Macau gaming revenue growth from +1-5 percent to the range of unchanged to down two percent. The analyst expects the level of play for the rest of June “to trend at...
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Deutsche Bank Sees VIP Risks And Lack Of Near-Term Catalysts For Macau
Monday, June 9, 2014 - 3:28pm | 247Read More...In a report published Monday, Deutsche Bank analyst Karen Tang cut 2014 gross gaming revenue (GGR) growth for Macau, downgraded casino operators and lowered price targets on VIP risks and lack of near-term catalysts. ”Disappointing” May GGR Tang was disappointed with May gross...
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Macau Projections - Readers Respond
Thursday, June 5, 2014 - 3:07pm | 276Read More...The results for the Macau Projections are in! Benzinga readers are optimistic for the future of casino stocks and blame the recent growth decline on the government crackdown in Macau. Casino shares have been trending lower following disappointing results in Macau amid the region's illegal...
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Casino Stocks Rocked By Unexpected Macau Announcement
Tuesday, June 3, 2014 - 9:21am | 460Read More...Casino stocks are trading lower Tuesday morning following disappointing results from Macau. This reading comes just weeks after news spread of a government crackdown in the region. Gambling revenues rose 9.3 percent in May, while analysts were expecting growth between 13 and 15 percent; revenue...
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Wells Fargo Reports Macau Gaming Revenue Is Trending Lower
Monday, May 19, 2014 - 10:57am | 211Read More...According to Wells Fargo analyst Cameron McKnight, Macau gaming revenue in May is trending lower. McKnight sees Macau gaming revenue trending between 10 and 14 percent year-over-year, versus the prior estimate of 14 to 16 percent in May growth. The analyst will meet with senior management and...
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Is Macau Casino Growth A Sure Thing?
Tuesday, May 13, 2014 - 12:18pm | 860Read More...Macau is home to the world's largest gaming market and the preferred gaming hub of the rapidly expanding Chinese wealthy class. Located just one hour away from the financial center of Hong Kong, Macau, a former Portuguese colony, offers wealthy gamblers a choice of several top notch gambling...
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Casino Stocks Crash On Chinese Crackdown
Thursday, May 8, 2014 - 10:41am | 381Read More...Casino stocks were hit hard in Thursday’s pre-market session following a Bloomberg report on regulation in Macau. Las Vegas Sands (NYSE: LVS) was down more than six percent, MGM (NYSE: MGM) gave up almost five percent and Wynn (NASDAQ: WYNN) was down more than four percent. According to...
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Market Wrap For February 13: Markets Close Higher; Nasdaq on a Six Day Winning Streak
Thursday, February 13, 2014 - 5:50pm | 2839Read More...U.S. stocks finished higher on Thursday after a bumpy start to the trading session. “People want to buy the dips now because the market made a bottom after Feb. 3,” Donald Selkin, chief market strategist at National Securities Corp. told Bloomberg. “We got very oversold and now it's believed...
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Market Wrap For January 30: Markets Focus on Good News
Thursday, January 30, 2014 - 6:06pm | 2831Read More...U.S. stocks rose on Thursday as investors and traders focused on the positives. Data showed that the economy expanded in the fourth quarter as consumer spending gained traction. "Today the market is focused on the good news, or the developed world," Bill Stone, chief investment strategist at...
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Analysts React to Las Vegas Sands Earnings
Thursday, January 30, 2014 - 4:44pm | 900Read More...On Wednesday, Las Vegas Sands (NYSE: LVS) reported its fourth quarter results. The company announced an EPS of $0.87, beating the consensus estimate of $0.84. Revenue of $3.66 billion fell short of the $3.71 billion consensus estimate. Sheldon Adelson, chairman and chief executive officer,...
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Market Wrap For January 28: Markets Snap Losing Streak, Apple Tumbles
Tuesday, January 28, 2014 - 5:42pm | 2932Read More...U.S. stocks reversed its multi-day losing streak as investors found enough positives in Tuesday's earnings to end the Dow's five day losing streak. The FOMC began its first day of a two-day meeting. The Wall Street Journal's Jon Hilsenrath believes that the central bank will reduce...
