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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
Check below for free stories on MPEL;LVS;MGM;WYNN the last two weeks.
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September 18, 2014
06:47 EDTWYNN, MPEL, 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.
September 16, 2014
16:00 EDTLVSOptions Update; September 16, 2014
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14:29 EDTWYNNMassachusetts votes to award license to Wynn Resorts
The Massachusetts Gaming Commission stated on its official Twitter feed that it voted 3-1 to award the Region A license to Wynn. Reference Link
13:52 EDTWYNN, MPEL, MGM, LVSMacau casino owners drop after negative note from analyst
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11:22 EDTMPEL, MGM, WYNN, LVSMorgan Stanley sees negative revisions to Macau consensus estimates
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09:51 EDTMGMMGM Resorts falls, levels to watch
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September 12, 2014
14:07 EDTLVS, WYNN, MGMNew Jersey reports August Atlantic City gaming win up 2.3% to $305M
New Jersey reports total Gaming Win from Atlantic City casino hotels and Internet gaming operations was $305M in August, compared to $298.1M in the same month of 2013 including discontinued operators Atlantic Club and Showboat, reflecting a 2.3% increase. Total Gaming Win from the current operators of casino hotels open for the entire month of August and Internet gaming operations was $289.9M in August. Internet gaming win was $10.5M in August, consisting of $2.2M in peer-to-peer win and $8.3M in other authorized games. As of August 31, 431,617 Internet gaming accounts have been created, up 6.5% from the 405,390 accounts as of July 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).
September 10, 2014
18:11 EDTMGMBoyd Gaming issues statement on MGM Resorts relicensing in New Jersey
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18:06 EDTMGMMGM Resorts approved as holding company of casino license in New Jersey
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09:04 EDTWYNN, LVSLas Vegas Sands and Wynn Resorts recommended at Goldman
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September 5, 2014
18:23 EDTMGMMGM Resorts to sell Railroad Pass Hotel to First Federal Realty
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10:05 EDTWYNNOn The Fly: Analyst Downgrade Summary
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07:27 EDTWYNNWynn Resorts downgraded to Hold from Buy at Argus
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