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Stock Market & Financial Investment News

News Breaks
June 9, 2014
10:07 EDTLVS, MPEL, WYNMF, WYNN, MGMJune Macau gaming revenue trending below estimate, says Wells Fargo
Wells Fargo says that based on its channel checks through June 8, June Macau gaming revenue growth is trending between 1%-5% year-over-year compared to its estimate of up 6.5%. The firm says that while it remains positive on the longer-term growth in Macau, 2014 could be "choppy" given the potential slowdown in VIP driven by decelerating credit growth and a softer macro environment. Wells still views Las Vegas Sands (LVS) as its top pick in the space. Note Union Gaming Research today downgraded shares of Melco Crown (MPEL), Wynn Macau (WYNMF) and others in the space.
News For LVS;MPEL;WYNMF;WYNN;MGM From The Last 14 Days
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August 28, 2014
09:32 EDTWYNN, LVS, MGMNevada reports July statewide gaming win up 0.65% to $931.8M
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August 26, 2014
09:50 EDTMPELOn The Fly: Analyst Upgrade Summary
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07:26 EDTLVS, MGM, WYNNMacau estimates lowered at Morgan Stanle
Morgan Stanley lowered Macau 2014 growth estimates to 6% from 12% and 2015 to 11% from 12.5% due to expectations for VIP trends to continue to deteriorate given the China macro impact and notes slowing mass growth rates.
07:21 EDTMPELMelco Crown upgraded to Overweight from Equal Weight at Morgan Stanley
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05:50 EDTLVSLas Vegas Sands receives construction permit for Parisian Macao
Las Vegas Sands announced that the company has received the government permit needed for construction on the $2.7B Parisian Macao to resume this week. The company said additional permits will be necessary as the development continues, but after undergoing a brief work stoppage, this approval enables work on the critical podium structure to restart immediately.
August 21, 2014
06:54 EDTWYNNWynn unit to spend $20M on Macau casinos design work, Macau Business says
Wynn Resorts' Wynn Macau unit is slated to spend $20.13M this year on design work for its casinos, Macau Business reports. This figure is double the amount the company originally planned. Reference Link

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