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News Breaks
June 3, 2014
08:52 EDTWYNN, MPEL, MGM, LVSVolatility in Macau shares should create buying opportunity, says Sterne Agee
After Macau's May gross gaming revenue came in below expectations, Sterne Agee thinks the miss was due to a low hold and low VIP volume. The firm believes that June results for Macau could be choppy due to a tough comp and the World Cup, but it remains upbeat on Macau's longer term outlook. In order of preference, the firm recommends buying Melco Crown (MPEL), Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN).
News For MPEL;LVS;MGM;WYNN From The Last 14 Days
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November 24, 2015
16:40 EDTLVSCfA retracts certain statements regarding Sheldon Adelson
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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 As a result, Eldorado has withdrawn its registration statement relating to a proposed common stock offering, the proceeds of which were intended to pay a portion of the purchase price for the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
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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
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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
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November 16, 2015
08:33 EDTLVSScientific Games announces retirement of CFO Scott Schweinfurth
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07:18 EDTWYNN, MGM, LVSDeutsche Bank to hold a conference
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