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Stock Market & Financial Investment News

News Breaks
June 11, 2014
11:45 EDTLVS, WYNN, MPEL, MGMMacau 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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September 3, 2015
13:45 EDTWYNNWynn Resorts estimates lowered on Macau weakness at Argus
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September 2, 2015
10:00 EDTWYNNOn The Fly: Analyst Upgrade Summary
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08:22 EDTWYNN, WYNNWynn Resorts upgraded to Buy from Outperform at CLSA
CLSA upgraded Wynn Resorts to Buy from Outperform based on share underperformance and lowered its price target to $104 from $117 on shares.
September 1, 2015
07:03 EDTLVS, MGM, MPEL, WYNNMacau reports August casino revenue down 35.5% to 18.62B patacas
Information on monthly gross revenue from games of fortune published on Macau government website. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
August 31, 2015
05:37 EDTMGMHulu, Epix announce extensive multi-year agreement
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August 28, 2015
09:34 EDTWYNN, LVS, MGMNevada 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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