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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
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August 28, 2015
09:34 EDTWYNN, MGM, LVSNevada reports July statewide gaming win down 0.96% to $922.89M
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August 27, 2015
06:03 EDTWYNNWynn Resorts implied volatility of 63 at upper end of index
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August 21, 2015
16:01 EDTLVSOptions Update; August 21, 2015
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07:17 EDTWYNN, MPEL, LVS, MGMMacau developments negative, says Wells Fargo
Wells Fargo says that its checks on Macau for August indicate that the region's revenues are trending flat to down this month. According to Wells, in August the region's revenues are historically up 4% versus July. The firm adds that comments by Macau casino owner Galaxy suggest that the market has not yet bottomed. Wells believes that the market has not yet stabilized and remains neutral on Macau stocks, although it remains upbeat on their long-term outlook. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
August 18, 2015
07:13 EDTMPEL, WYNN, MGM, LVSMacau GGR poised to sink 37% in August, says Bernstein
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