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Stock Market & Financial Investment News

News Breaks
June 6, 2014
10:15 EDTLVS, WYNN, MPEL, MGMMacau 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
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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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