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Source: www.marketwatch.com --- 13 days ago
Shares of Casino operators leap in late trading after Wynn Resorts Inc. forecasts strong quarterly operating income from its Macau-based property. ... Source: www.bloomberg.com --- 13 days ago
... Source: seekingalpha.com --- 41 days ago
Notable Calls submits: Deutsche Bank is out with a wonderful (and Actionable) call on Casino Stocks noting the sector has been hit hard as of late, with large cap names such as Las Vegas Sands (LVS), MGM Mirage (MGM), and Wynn Resorts (WYNN) down 25% on average since oil prices spiked ~3.5 months ago. A confluence of factors has worked in concert to drive Casino Stocks lower primarily stemming from an inflection in oil prices (underscoring concerns about the cost of transport to casinos and spend per visit). The Firm's conclusion is that the market is seemingly over-discounting the risk, especially when looking at recent Vegas data, which is down less than anticipated (YTD gaming revs -2.6%). Complete Story » ... Source: www.lasvegassun.com --- 25 days ago
Casino Stocks take a bath ... Source: www.topix.com --- 13 days ago
Casino Stocks were battered again Thursday, with shares of the big players scraping to multiyear lows on the back of news of a precipitous drop in Nevada's gambling revenue. ... Source: www.snl.com --- 10 days ago
SNL Exclusive A double-digit drop in Las Vegas Strip gaming revenue in May helped pull down gaming Stocks on July 10, MGM Mirage in particular. Wynn Resorts, however, was boosted by some positive after-market news. Industries: Gaming Referenced Companies: , MGM Mirage, Las Vegas Sands Corp., Wynn Resorts Ltd. ... Source: articles.moneycentral.msn.com --- 21 days ago
With beaten-down Casino and real estate Stocks, a mix of long and short bets helps lessen the risks. ... Source: articles.moneycentral.msn.com --- 21 days ago
With beaten-down Casino and real estate Stocks, a mix of long and short bets helps lessen the risks. ... Source: www.usnews.com --- 20 days ago
Casino Stocks crap out. ... Source: seekingalpha.com --- 16 days ago
Matthew Rafat submits: Jake Fuller of Thomas Weisel Partners agrees with me on choosing Pinnacle Entertainment (PNK) over the Vegas casinos. See CNBC's article entitled "Casino Stocks: Don't Bet On the Biggies." Of course, I made the same call weeks ago, only to see Pinnacle Entertainment become a victim of the overall market decline. PNK is Pinnacle Entertainment Inc. Although their HQ is in Las Vegas, they don't own casinos there. The six casinos they own are in Louisiana, Indiana, Missouri and Reno, NV; in addition, they operate casinos in the Bahamas and Argentina. This is a fairly small company--its market cap is still under 1 billion. So why choose this stock over WYNN, LVS, or MGM? Complete Story » ... Source: seekingalpha.com --- 51 days ago
Stockerblog submits: With the proliferation of casinos all across the United States, especially on Native American reservations, there may be an opportunity in the manufacturers of the slot machines, video poker machines, and bingo machines. According to the U.S. Bureau of Labor Statistics, because of the growth of and increasing popularity of Indian casinos and racinos [a racetrack with a Casino], employment in gaming services occupations is projected to grow by 23 percent between 2006 and 2016, which is much faster than the average for all occupations. You will have to decide if any of the following Stocks are worth betting on. Complete Story » ... Source: www.casinogamblingweb.com --- 16 days ago
It used to be that Casino Stocks were a sure thing for gambling stock brokers who wanted to make guaranteed money, that has not been the case lately with casinos down across the board. ... Source: stockmarketbeat.com --- 14 days ago
CNBC Stock Blog: On Monday, hospitality analyst Jake Fuller panned which Casino stock? Geography plays a role in the Stocks Fuller thinks investors should avoid. “The big-cap names, companies like Las Vegas Sands (LVS), MGM (MGM) and Wynn(WYNN - Annual Report), (have) a lot of exposure to markets like Las Vegas,” he said. “Las Vegas, you’re going [...] ...
Source: www.boxxet.com --- 52 days ago
Written by Zac Bissonnette Ivanka Trump -- the daughter of comedy icon Donald Trump and a director at his flailing Casino company, Trump Entertainment Resorts (NASDAQ: TRMP) -- is back from a trip to Israel where she was scouting out possible investment ... Original story at Blogging Stocks . View our complete collection of news and blogs, plus related videos, photos and more at Boxxet for Ivanka Trump . ... Source: www.prospect.org --- 10 days ago
In his monthly column at the NYT Greg Mankiw gave readers his economist's wish lis t. While I'd agree with several items, I also have some big differences. For example, why wouldn't economists want to tax speculation in oil and commodities just like speculation on lottery tickets and Casino gambling? A modest financial transactions tax on futures, options, Stocks, bonds, etc. would have almost no impact on normal transactions, while making life a bit more risky for speculators. And, it could easily raise $150 billion a year. I don't know why an honest economist would support leveling the playing fields for different types of gambling. But where I really take issue is with Mankiw's discussion of the economist's position on trade and high skill immigration. Mankiw implies that we have an open door policy for high-skilled immigrants and even goes so far as to claim that "economists very clearly practice what they preach. Many of the best economists at top American universities were born abroad." Mankiw knows better here. There are many prominent economists in the United States who were born abroad, but the fact that hard-working talented economists can have the opportunity to work in the United States does not mean that foreign economists do not face barriers. In effect, foreign born economists are allowed to compete on quality. The very best foreign economists are allowed to work as economists in the United States. However, the law ... Source: www.fiercefinance.com --- 12 days ago
We tend to take Fannie Mae and Freddie Mac for granted. They have long been securitizing mortgages, and that expanded liquidity greatly, without a doubt. That they were government-sponsored enterprises made their guarantee seem fail-proof. But all noble securitization eventually gave way to Casino practices. Now, the idea that both could actually fail has gained steam, pushing their Stocks to new lows, notes Fortune . William Poole, former president of the St. Louis Federal Reserve, has been quoted as saying the entities are already insolvent. That may be overstating it, but we really do not know. This fresh worry for the industry is keeping regulators up at night. They were scrambling to reassure the markets yesterday. Plans for possibly placing the agencies in conservatorship were leaked to the New York Times . Wow! If they were to fold, the real estate market as we know it would crumble. We can't have that. For more: - here's the Fortune article - here's the New York Times article Related Articles: How exposed is Fannie Mae? Pete Bresnan to leave SEC ...
Source: www.pr-inside.com --- 64 days ago
(PR-inside.com) - BullMarket.com (http://www.bullmarket.com), an online investment newsletter focused on long-term growth and income-generating Stocks, announced today that it has provided subscribers with a report on Casino Stocks, including Lakes Entertainment (NYSE: LACO), Melco PBL Entertainment (Nasdaq: MPEL), MGM Mirage (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN), and Las Vegas Sands (NYSE: LVS). All paid and trial subscribers to BullMarket.com can now receive immediate access to the newsletter's exclusive daily reports. As a subscriber, you'll also gain access to our latest investment moves. Start your 14-day free trial today: https://www.bullmarket.com/subscribe/index.php?refer=BMR360B In its report, BullMarket.com wrote: 'Melco is moving aggressively .. ... Source: www.boxxet.com --- 51 days ago
On Thursday, Trump announced it would sell its lowest-performing Casino, Trump Marina Hotel Casino, to Coastal Marina LLC, a New York gambling company, for $316 million. Coastal Marina plans to rebrand the Casino hotel as ... Original story at Relistr.com . Related stories include: Ivanka Trump's Diamond Days - Fashion Wire Daily - Fashion Wire Daily , Novias - Park Avenue Peerage and ... NBC40.net , vegastripping.com , beaniecat (Blogspot) , Blogging Stocks , HotelChatter , LBN E , This Week on the Island View all 10 related news and blogs, plus related videos, photos and more at Boxxet for Donald Trump . ... Find more results for Casino Stocks on RSSMicro.com |
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Casino Stocks have been getting rocked and some believe the worst is yet to come . Blame the economy, $145 oil, and airlines. MGM Mirage (MGM) is certainly no exception: it's down 70% from its 52-week high. Gabelli now cuts estimates on MGM and pees on the stock: expected demand weakness in Las Vegas lower room rates negative operating leverage However, Gabelli is willing to wait out the economic downturn and gives the old "oversold" story. The firm is likes the fact that MGM is still a " world-class" gaming owner/operator and maintains a BUY. That's nice. And in the long-run, we're all dead. See Also : Las Vegas Sands (LVS), WYNN Casinos (WYNN), et al: Worst Yet To Come ( LVS , WYNN , MGM ) Gambling Fears Overblown: Las Vegas Sands (LVS), MGM (MGM), and Wynn Resorts (WYNN) Could Double Las Vegas Sands (LVS): Not The Casino You Want ( LVS , ASCA ) ...
Deutsche is gambling that $140 oil and a weak economy won't hobble Casino Stocks Las Vegas Sands (LVS), MGM (MGM), or Wynn Resorts (WYNN) for much longer. In fact, they see nearly 100% returns for each. Let's begin with the risks that have persuaded investors to run away screaming: Derivative issues include gasoline prices, food costs, jet fuel (Vegas air capacity reduction and higher fares), heating oil (forthcoming winter issue), and consumers' discretionary spend. Higher U.S. unemployment, tight credit markets (development pipeline funding and ROIC concern), illiquidity and/or downward pressure on housing (condo‐hotel monetization concern), and utility costs impacting margins are all exacerbating oil's impact on Casino sentiment. But it's these very risks that investors are overestimating, Deutsche says, and that's making the Casino Stocks extremely undervalued: Our conclusion is that the market is seemingly over‐discounting the risk[s] , especially when looking at recent Vegas data, which is down less than anticipated (YTD gaming revs - 2.6%).... MGM shares are down 31% since March. Since then, we (as proxy for consensus) have lowered our 2009 MGM Vegas EBITDA estimates, resulting in a consolidated company‐wide estimate revision of about 7%... we think the Street could be looking for a negative 30% revision to EBITDA estimates for MGM's Las Vegas properties [more than 4x as large as our expected revision]. Translation: the St ...