New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 6, 2014
10:15 EDTWYNN, MGM, LVS, MPELMacau casino operators decline after analysts cautious on growth
Shares of Macau casino operators are falling after two research firms issued cautious notes about the outlook for gambling in the Chinese region. WHAT'S NEW: Growth in Macau has decelerated and concerns about the outlook for gambling there is building, FBR Capital analyst Jake Fuller wrote in a note to investors earlier today. China's crackdown on illegal money transfers, the potential for tighter restrictions on visas for the region and a smoking ban are among the issues worrying investors, the analyst indicated. He now expects the Macau casino market to grow at a rate of about 10% in the second quarter, below the consensus outlook. As a result, Fuller believes that analysts' estimates for Las Vegas Sands (LVS) and Wynn Resorts (WYNN) could come under pressure, with estimates for MGM Resorts (MGM) being pressured to a lesser extent. He kept Market Perform ratings on Las Vegas Sands and Wynn Resorts and an Outperform rating on MGM. Somewhat cautious but more upbeat than Fuller was Wells Fargo. Although the growth of VIPs visiting the province has slowed, the Macau casino operators there should still benefit from strong mass trends and profitability, the firm stated in a note to investors earlier today. The firm lowered its 2014 revenue growth outlook for Macau to 11% from 13%, but does not anticipate that 2014 results will miss expectations. Moreover, the firm remains upbeat on Macau's outlook over the medium to longer term. It kept Outperform ratings on Las Vegas Sands, Melco Crown (MPEL), and Wynn Resorts. It kept a Market Perform rating on MGM Resorts. PRICE ACTION: In early trading, Las Vegas Sands dropped 0.7% to $74.60, MGM fell 0.75% to $25.25, Wynn slipped 0.2% to $205.54 and Melco Crown gave back 2.3% to $32.70.
News For LVS;WYNN;MPEL;MGM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 24, 2015
16:40 EDTLVSCfA retracts certain statements regarding Sheldon Adelson
Subscribe for More Information
09:01 EDTMGMEldorado Resources completes purchase of MGM's 50% interest in Silver Legacy
Eldorado Resorts (ERI) said it has completed the previously announced purchase of MGM Resorts International's (MGM) 50 percent interest in the Silver Legacy Resort Casino Reno, as well as the assets of Circus Circus Reno, for total consideration of $72.5 million cash plus a working capital adjustment. In addition, ERI repaid the entire outstanding balance of the Silver Legacy credit facility, which amounted to approximately $52.6 million on a net debt basis. The transaction was financed with cash on hand, cash from the escrow account established at the time of the Company's July financings and borrowings under the Company's revolving credit facility. As a result, Eldorado has withdrawn its registration statement relating to a proposed common stock offering, the proceeds of which were intended to pay a portion of the purchase price for the Circus Circus Reno and 50% interest in the Silver Legacy joint venture. The transaction increases Eldorado's property portfolio to seven wholly-owned and operated facilities in five markets with a total of approximately 10,230 slot machines and VLTs, approximately 300 table games, approximately 4,850 hotel rooms, approximately 35 dining, bar and entertainment options, three pari-mutuel racing facilities and approximately 8,000 team members.
07:58 EDTMGMMGM Resorts Q4 Las Vegas trends look positive, says Wells Fargo
Wells Fargo says that MGM's Las Vegas business looks set to grow 10% in Q4, in-line with the company's 8% RevPAR growth guidance.
November 20, 2015
12:19 EDTWYNNStocks with call strike movement; WYNN GMCR
Wynn Resorts (WYNN) February 70 call option implied volatility decreased 2% to 55, Keurig Green Mountain (GMCR) March 55 call option implied volatility decreased 2% to 54 according to iVolatility.
November 18, 2015
13:05 EDTLVS, WYNN, MGMLas Vegas Sands, MGM slip after Wynn reports opening delay for Macau casino
Subscribe for More Information
13:00 EDTWYNNWynn drops 4% after delaying opening of Macau casino
12:49 EDTWYNNWynn Resorts says Wynn Palace now expected to open June 25, 2016
Subscribe for More Information
November 17, 2015
10:41 EDTLVS, MPEL, MGM, WYNNMacau sees gaming revenue slump continuing, Bloomberg says
Macau's chief executive Fernando Chui is targeting casino revenue of $25B in 2016 about half of what it took in last year, says Bloomberg. Macau's gaming revenue fell for 17th straight month in October as China's economy slows and efforts to curb corruption continue, Bloomberg added. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Crown (MPEL). Reference Link
08:34 EDTWYNNNAREIT to hold a conference
Subscribe for More Information
November 16, 2015
08:33 EDTLVSScientific Games announces retirement of CFO Scott Schweinfurth
Subscribe for More Information
07:18 EDTWYNN, MGM, LVSDeutsche Bank to hold a conference
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use