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December 11, 2012
10:34 EDTLVS, MPELMelco, Las Vegas Sands gain after analyst says Macau doing well
Melco Crown Entertainment (MPEL) and Las Vegas Sands (LVS), which both operate casinos on the Chinese island of Macau, are advancing after research firm Sterne Agee wrote that Macau gaming revenues have been higher than expected so far this month. In a note to investors earlier today, Sterne Agee analyst David Balu wrote that Macau gross gaming revenue, or GGR, increased 27% during the first ten days of December, compared with the same period in 2011. Balu had previously expected Macau's GGR to rise just 11% in December, and he now anticipates that GGR will rise 16% this month. Several factors are contributing to Macau's strong performance, including less restrictive visa requirements, improvements in China's economy, and the strengthening of China's currency, the analyst wrote. Meanwhile, other firms are likely to increase their Macau revenue estimates for 2013, Balu believes. He maintained Buy ratings on both Melco Crown and Las Vegas Sands. In mid-morning trading, Melco climbed 34c, or 2.26%, to $15.62 and Las Vegas Sands rose $1.00, or 2.30%, to $44.56.
News For MPEL;LVS 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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November 18, 2015
13:05 EDTLVSLas Vegas Sands, MGM slip after Wynn reports opening delay for Macau casino
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November 17, 2015
10:41 EDTLVS, MPELMacau 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
November 16, 2015
08:33 EDTLVSScientific Games announces retirement of CFO Scott Schweinfurth
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07:18 EDTLVSDeutsche Bank to hold a conference
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