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Stock Market & Financial Investment News

News Breaks
July 14, 2014
14:04 EDTMGM, BYD, LVS, WYNN, PENN, CZRNJ reports Atlantic City June gaming win $236M
New Jersey reported total gaming win from the casino hotels and Internet gaming operations was $236M in June, compared to the $240.2M in casino win for June of last year including Atlantic Club. Casino win from the eleven casino hotels open in both June 2013 and 2014, excluding Atlantic Club, decreased by 0.3%. Internet gaming win was $9.5M in June, consisting of $2.0M in Peer-to-Peer win and $7.5M in Other Authorized Games. As of June 30, 378,564 Internet gaming accounts have been created, up 7.8% from the 351,136 accounts as of May 31. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
News For MGM;BYD;LVS;WYNN;PENN;CZR From The Last 14 Days
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October 1, 2014
10:13 EDTWYNNWynn Resorts CEO says no plans to invert
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09:13 EDTMGMMGM Resorts and AEG announce $200M funding for new seat arena
MGM Resorts International and AEG announced that they have finalized a $200M bank facility to fund the development and construction of a new 20,000 seat arena. Located on the west side of the Las Vegas Strip, between New York New York and Monte Carlo resorts, the new $375M privately funded world-class arena is currently under construction. The Las Vegas Arena is scheduled to debut in the spring of 2016.
07:20 EDTPENNDeutsche Bank to hold a conference
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September 30, 2014
17:24 EDTMGMMGM Resorts CEO says taking 'long view' on China issues
Says does not know the immediate impact of Hong Kong protests on Macau operations. Jim Murren is speaking on CNBC.
08:43 EDTCZRApollo wins approval for transfer of Caesar's loyalty program, NY Post says
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September 29, 2014
14:03 EDTLVSLas Vegas Sands volatility elevated as shares trade near 1-year low
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07:23 EDTMGM, BYD, PENN, WYNN, LVSUBS & Deutsche Bank to co-host a forum
Gaming Investment Forum to be held in Las Vegas on September 29-30 with webcasted company presentations to begin on September 29 at 12 pm; not all company presentations may be webcasted. Webcast Link
September 26, 2014
09:33 EDTPENN, WYNN, MGM, BYD, CZR, LVSNevada reports August statewide gaming win down 3.66% to $920.29M
Nevada reports August Las Vegas Strip gaming win down 6.08% to $553.19M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
September 25, 2014
06:41 EDTPENNBarclays remains positive on Penn National
Barclays said gaming repeal efforts are subsiding in Massachusetts and upcoming catalysts for Penn National are not being reflected in shares. The analyst remains positive on Penn National's outlook and expects the opening of 1250 slots at Plainridge Park in June 2015 could add $3 per share in valuation and potential permitting and construction delays for Wynn (WYNN) could give Penn a head start. Lastly, Barclays believes the Hollywood Jamui project expected in 2016 could add $2 per share in valuation. Shares are Overweight rated.
September 23, 2014
08:45 EDTBYDBofA/Merrill China and U.S. auto analysts hold analyst/industry conference call
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September 22, 2014
10:15 EDTWYNN, LVSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
07:37 EDTMGM, LVS, WYNNLarge-Cap Gaming sector downgraded at Wells Fargo
Wells Fargo downgraded the Large-Cap Gaming sector to Market Weight from Overweight while cutting its ratings on Las Vegas Sands (LVS), Wynn Resorts (WYNN) and Melco Crown (MPEL) to Market Perform from Outperform. Wells believes near-term uncertainty in Macau has increased, making the risk/reward on shares balanced for the next 6-12 months. The firm thinks second half of 2014 and 2015 EBITDA estimates still need to come down another 10%. Wells cuts its price target range for Las Vegas Sands to $60-$70 from $80-$85, for Wynn to $180-$200 from $245-$250 and for Melco to $28-$31 from $38-$40. The firm keeps a Market Perform rating on MGM Resorts (MGM) with a slightly reduced price target range of $23-$26.
07:12 EDTWYNNWynn Resorts downgraded to Market Perform from Outperform at Wells Fargo
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07:12 EDTLVSLas Vegas Sands downgraded to Market Perform from Outperform at Wells Fargo
September 19, 2014
10:06 EDTMGMOn The Fly: Analyst Downgrade Summary
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07:29 EDTMGMMGM Resorts downgraded to Hold from Buy at Argus
Argus downgraded MGM Resorts based on disappointing Macau gaming revenue.
07:03 EDTPENNPenn National names CEO Timothy Wilmott to board of directors
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September 18, 2014
06:47 EDTWYNN, LVS, MGMMacau stocks getting closer to bottom, says JPMorgan
JPMorgan says most Macau stocks have a 2:1 upside/downside ratio, making the risk/rewards favorable. The firm prefers MGM Resorts (MGM) and Wynn Resorts (WYNN) over Melco Crown (MPEL) and Las Vegas Sands (LVS) in the near-term, but keeps Overweight ratings on all four names. JPMorgan lowered its price target for Las Vegas Sands to $69 from $83, for Melco to $31 from $40, for MGM to $30 from $31 and for Wynn to $210 from $239. The firm says the stocks are getting closer to a bottom.

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