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Stock Market & Financial Investment News

News Breaks
June 11, 2014
11:45 EDTMPEL, LVS, MGM, WYNNMacau stocks rise after analyst calls sell-off excessive
Shares of companies that operate casinos in the Chinese region of Macau are advancing after Credit Suisse wrote that the recent sell-off in the stocks has been excessive. WHAT'S NEW: Investors have been concerned about decelerating revenue from the most prolific gamblers in Macau, commonly known as VIPs, Credit Suisse analyst Isis Wong wrote. However, Wong reported that other customers account for 60% of Macau casinos' earnings, adding that the non-VIP segment is still growing strongly, registering 36% growth so far this year. Additionally, the stocks' drop so far this month implies that investors are expecting the casinos' VIP revenue to tumble 25%, in-line with the drop in the wake of the financial crisis in the first half of 2009, according to Wong, who indicated that she thinks this scenario is unrealistic. Moreover, the average daily revenue of Macau casinos has actually been "very steady" over the past few months, the analyst stated. PRICE ACTION: In late morning trading, Melco Crown (MPEL) advanced 4% to $32, Wynn Reports (WYNN) rose 1.5% to $200, MGM Resorts (MGM) advanced 1.5% to $25, and Las Vegas Sands (LVS) gained 1% to $74.
News For MPEL;LVS;MGM;WYNN 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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