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Stock Market & Financial Investment News

News Breaks
June 19, 2014
16:22 EDTMGM, WYNN, CZR, BYD, PENN, LVSRevel to shut down if buyer not found, AP says
Atlantic City's Revel Casino warned in letters to employees that were obtained by The Associated Press that it will shut down this summer if it cannot find a buyer. The casino appears poised to file for bankruptcy for the second time in little over a year, AP said, though the service noted that bankruptcy was not mentioned in the letter to employees. Publicly traded companies in the casino gaming space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN). Reference Link
News For WYNN;LVS;BYD;MGM;PENN;CZR From The Last 14 Days
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July 6, 2015
07:14 EDTPENNPenn National Plainridge casino has strong first week, says Janney Capital
Janney Capital noted that Penn National's new Plainridge casino generated $6.1M in revenues for its first seven days and while the firm expects a fall-off from initial levels it also believes there will be upside to consensus estimates for the property. Janney has a Buy rating and $19 fair value estimate on Penn National shares.
July 2, 2015
12:11 EDTWYNN, LVS, MGMJPMorgan says Macau view largely unchanged after visa news, June numbers
JPMorgan views Macau's gaming revenue for June as modestly positive given that it was down less than the prior month and better than Street expectations. The firm also said the visa policy easing news was a surprising, but welcome, development, but that its view on the Macau names was largely unchanged following the news.
11:16 EDTMGM, WYNN, LVSUBS 'constructive' on Macau names after restrictions eased
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08:57 EDTPENNPenn National Plainridge casino expectations too high, says Morgan Stanley
Morgan Stanley believes Penn National Plainridge Park casino consensus expectations for $250M revenue and $60M EBITDA in 2016 are too high. The firm said other city property openings within proximity suggest lower win, unit and spend, and will likely face capacity issues. Morgan Stanley rates Penn National an Underweight with a $15 price target and says risk/reward is unfavorable.
08:29 EDTMGM, WYNN, LVSUBS shifts from cautious stance on Macau gaming after policy change
UBS said it is taking a more constructive stance on of Macau gaming names sector as it believes the recent visa policy change lowers fears on further local tightening. The firm also cited the lowered risk of large scale downgrades in the sector and valuations that support the sector, though it noted that larger upside depends on an earnings upgrade cycle. UBS said it is unattractive to take a negative sector position given the backdrop. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
July 1, 2015
10:05 EDTLVSLas Vegas Sands breaks out, levels to watch
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08:10 EDTCZRCaesar's appoints Mark Frissora as President and CEO
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06:48 EDTLVS, WYNN, MGMMacau reports June casino revenue down 36.2% to 17.36B patacas
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June 30, 2015
15:17 EDTWYNN, MGM, LVSMacau visa change does not signal a change in policy, says Wells Fargo
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12:50 EDTMGM, LVS, WYNNMacau transit visa rules reversed, signal end of tightening, says BofA/Merrill
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12:44 EDTMGM, LVS, WYNNMacau appears to re-lengthen visas to 7 days, says Brean Capital
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09:35 EDTWYNNActive equity options trading on open
Active equity options trading on open: AAPL FB GILD BABA BAC MU WYNN MSFT NFLX
09:03 EDTBYDBoyd Gaming announecs expansion of Delta Downs racetrack casino hotel
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06:47 EDTCZRCaesar’s CEO Loveman: I faced ‘every imaginable human catastrophe,’ WSJ says
Caesar's CEO Gary Loveman defended his tenure with the company after its leveraged buyout in January 2012, saying that he faced “every imaginable human catastrophe” while on the job, including “floods, hurricanes, building collapses, murders,” the Wall Street Journal reports. “This job has made me numb,” Loveman said at a speech at Stanford University in 2012, the report says. Reference Link
June 26, 2015
09:32 EDTCZR, LVS, WYNN, PENN, MGM, BYDNevada reports May Statewide gaming win up 3.33% to $1.0B
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June 24, 2015
09:13 EDTPENNPenn National’s Plainridge Park Casino debuts as Massachusetts’ first casino
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