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Casino Stocks Under Pressure Following Credit Suisse Downgrade Of Melco Crown, Sands
Monday, April 4, 2016 - 1:30pm | 258Read More...Casino stocks were trading mostly lower on Monday following a cautious report by analysts at Credit Suisse. Credit Suisse's Kenneth Fong cautioned investors in a note that while casino operators have seen strong gains in their stock recently, further gains "may take a breather here....
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Macau Revenue Misses Expectations, Casino Stocks Mostly Lower
Friday, April 1, 2016 - 1:38pm | 310Read More...Casino stocks were trading mostly lower on Friday after Bloomberg reported gaming revenue generated in Macau fell more than expected last month. Bloomberg, citing data from Macau's Gaming Inspection and Coordination Bureau, reported that total gross gaming revenue in the region fell 16.3...
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Macau Revenues Come Up Short In March: What You Should Know
Friday, April 1, 2016 - 10:18am | 489Read More...According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of February came in at 17.9 billion patacas, about 16.3 percent lower than February 2016’s number. The 16.3 percent decline came up short of analysts’ consensus expectations...
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Best Stocks Of The First Quarter
Thursday, March 31, 2016 - 10:51am | 510Read More...This year certainly has been a strange one so far for the U.S. stock market. Thursday marks the end of a volatile Q1, which started out looking like it could be one of the worst quarters for the market in recent history. By mid-February, the S&P 500 was down more than 10 percent on the year....
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New Macau Policy Not Exactly What Market Expected
Wednesday, March 30, 2016 - 2:42pm | 295Read More...The new Macau policy over application of visas is "much milder than what the market is hoping for," according to a report from Deutsche Bank. According to the report, Macau's Chief Executive said Tuesday that Macau is not requesting Beijing to expand the Individual Visit Scheme (...
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Vegas Strip Revenue Up 7.3% In February
Wednesday, March 30, 2016 - 12:28pm | 402Read More...With revenue in the world's largest gaming destination -- Macau, China – finally showing signs of stabilization, casino investors are still looking to the state of Nevada for some much-needed revenue growth this year. The state's Gaming Control Board has released its report on...
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Macau Still Risky, But Morgan Stanley Sees 30% Upside In Wynn Resorts
Tuesday, March 22, 2016 - 9:29am | 292Read More...Morgan Stanley’s Thomas Allen upgraded the rating on Wynn Resorts, Limited (NASDAQ: WYNN) to Overweight, with a price target of $120. Upside Potential While pointing out that the company had navigated the deteriorating Asian gaming market proficiently, and that the market appeared to be...
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Hotel M&A Ripples Through Casino And Cruise Stocks
Monday, March 14, 2016 - 2:56pm | 335Read More...Big hotel M&A news seems to be having an impact on other gaming & leisure stocks. Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) is up 7.8 percent after an unsolicited bid to buy the company from a Chinese consortium led by Anabang Insurance. The buyout price of $76 per share...
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Moody's Concerned With Impact Of Prolonged Decline In Macau's Gaming Sales
Friday, March 11, 2016 - 10:56am | 464Read More...Moody's Investors Service has placed Macau's Aa2 government issuer rating on review for downgrade amid a drop in gaming revenues. This is a negative read-through for companies like Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), MGM Resorts International (NYSE: MGM) and...
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MGM China Is The Most Efficient Macau Operator
Wednesday, March 9, 2016 - 1:11pm | 327Read More...In a new report, Morgan Stanley analyst Praveen Choudhary takes a close look at which Macau casino operators are running the most efficient businesses. According to Choudhary, staff is the larest fixed cost for U.S.-listed Macau casino operators Las Vegas Sands Corp. (NYSE: LVS), Melco Crown...
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Macau Gaming Revenue Nearly Flat In February
Tuesday, March 1, 2016 - 11:02am | 453Read More...According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of February came in at 19.5 billion patacas, only about 0.1 percent lower than February 2016’s number. Shares of Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL), Las Vegas Sands...
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Macau Tourist Spending Fell 17% Last Year
Monday, February 22, 2016 - 12:01pm | 303Read More...The final 2015 numbers out of Macau indicate that it wasn’t just the gaming segment of Macau’s economy that suffered last year. According to the Macau Statistics and Census Service, non-gaming visitor spending fell 17.2 percent in 2015. This decrease represents the first year-over-...
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Macau Investors: Look At The Forest, Not The Trees
Wednesday, February 17, 2016 - 4:09pm | 309Read More...Credit Suisse analyst Kenneth Wong warned Macau casino operator investors not to let the Chinese economic weakness blind them to recent data showing improvement in the Macau gaming business. According to Wong, there are several trends now indicating that a Macau turnaround has already begun....
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Macau Economy To Shrink Almost 14% This Year, Economists Warn
Monday, February 1, 2016 - 12:53pm | 294Read More...According to the University of Macau economics professor Fung Kwan, the city's economy will shrink by 13.6 percent in 2016. In addition, Fung said that 2016 gross gaming revenue totals will come in 15-20 percent below 2015's totals. Macau started off 2016 with a 21.4 percent gaming...
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Wynn Numbers 'Better Than Feared,' Bode Well For MGM
Friday, January 15, 2016 - 3:40pm | 296Read More...Wynn Resorts, Limited (NASDAQ: WYNN) pre-announced its 4Q15 results on Friday, resulting in a 5.1 percent better-than-consensus estimate; however, the numbers weren't enough to change Susquehanna Financial Group's view that Macau's GGR estimates will likely be lowered. The firm also noted that...
