Resorts & Casinos

(MGM) MGM Resorts International Stays Neutral

We maintain our Neutral recommendation on the casino-resort operator MGM Resorts International (MGM). While we view the company’s busy event schedule in 2013, strong international growth and various domestic ventures favorably, a...

21Apr2013 | | Comments Off on (MGM) MGM Resorts International Stays Neutral | Continued

(PENN) Penn National Gaming in Expansion Mode

One of the wholly-owned subsidiaries of Penn National Gaming Inc. (PENN) recently inked a development agreement with the Jamul Indian Tribal Village to jointly set up a casino and resort on the Tribe’s trust land in San Diego County,...

18Apr2013 | | Comments Off on (PENN) Penn National Gaming in Expansion Mode | Continued

(MGM) MGM Resorts International Clears Govt Hurdle for Cotai

MGM Resorts International (MGM) has finally received a long-awaited approval from the Macau Government for development of a resort and casino in Cotai, Macau – the only Chinese city where gambling is legal.

Per the land concession...

15Jan2013 | | Comments Off on (MGM) MGM Resorts International Clears Govt Hurdle for Cotai | Continued

(LVS) Las Vegas Sands Approves Special Dividend

Las Vegas Sands Corp (LVS) recently enhanced shareholder value based on its strong cash flow position and in anticipation of a dividend tax rate increase in 2013. The Board of Directors has approved a special dividend of $2.75 per...

3Dec2012 | | Comments Off on (LVS) Las Vegas Sands Approves Special Dividend | Continued

(WYNN) Wynn Resorts Limited – Bear of the Day

Wynn Resorts’ (WYNN) second quarter 2012 earnings were disappointing as its performance in Las Vegas and business at Macau were weak. After several quarters of rapid growth, the Macau market is now witnessing a slowdown as the...

9Aug2012 | | Comments Off on (WYNN) Wynn Resorts Limited – Bear of the Day | Continued

(LVS) Las Vegas Sands Corporation – Bull of the Day

Las Vegas Sands Corp.’s (LVS) first-quarter results were robust with an industry-wide record of $1 billion EBITDA and adjusted earnings up 89.2% year over year. The first-quarter earnings also surpassed the Zacks Consensus Estimate...

29May2012 | | Comments Off on (LVS) Las Vegas Sands Corporation – Bull of the Day | Continued

(WYNN) Wynn Resorts Broken or a Buy?

Are the casinos with Macau operations at the top of their game, with no where to go but down? That’s a question gaming investors are asking after the reaction to Wynn Resorts (WYNN) earnings miss last week where the stock took a $20 (15%) dive.

26Oct2011 | | 0 comments | Continued

(MGM) MGM Resorts International Narrows Loss

MGM Resorts International (MGM) reported second quarter 2011 adjusted loss of 8 cents per share narrower than the Zacks Consensus Estimate of a loss of 13 cents per share. The better-than-expected result was attributable to the expansion...

9Aug2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Downgraded to Neutral

We recently downgraded our rating on Wynn Resorts Limited (WYNN) to Neutral from Outperform. The company, along with its subsidiaries, is a leading developer, owner and operator of destination casino resorts with properties in Las...

30Jun2011 | | 0 comments | Continued

(LVS) Las Vegas Sands Unit Sands China to Obtain New Credit

Sands China Ltd., a majority owned subsidiary of Las Vegas Sands Corp. (LVS) announced that it will receive $3.5 billion in loan under a new credit facility. The unit will also have the option to raise an additional $1.0 billion of...

21Jun2011 | | 0 comments | Continued

(LVS) Las Vegas Sands Earnings Disappoint

Las Vegas Sands Corp. (LVS) recorded adjusted earnings of 37 cents per share in the first quarter of 2011, which fell shy of the Zacks Consensus Estimate of 44 cents but improved considerably from 7 cents reported in the year-earlier...

7May2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited – Bull of the Day

Wynn Resorts (WYNN) first quarter 2011 earnings beat the Zacks Consensus Estimate with higher-than-expected top-line growth. With the global economy showing gradual recovery, the company is experiencing an increase in demand. Its...

26Apr2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Ltd – Revenue for the Fourth Quarter Was Up 53%

Wynn Resorts Ltd (WYNN) recently hit a new multi-year high above $126 as the company’s China based Macau resort continues to see huge gains. With a recent 44% earnings surprise and bullish 33% growth projection, this Zacks #2 rank stock has all...

11Mar2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited Fourth Quarter 2010 Earnings Scorecard

Wynn Resorts Limited (WYNN), a leading developer, owner and operator of destination casino resorts, posted better-than-expected fourth quarter 2010 results on February 10, 2011, buoyed by solid performance of its Macau operations.

The...

22Feb2011 | | 0 comments | Continued

(MGM) MGM Resorts International Earings Report Beats The Street

MGM Resorts International (MGM) reported its fourth-quarter 2010 adjusted loss of 20 cents per share as compared with the Zacks Consensus Estimate of 22 cents loss per share and the year-earlier loss of 21 cents.

On a GAAP basis,...

15Feb2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Fourth Quarter Report Smashes Estimates on Macau Growth

Wynn Resorts Ltd. (WYNN) reported its fourth-quarter 2010 adjusted earnings of 91 cents per share, handily beating the Zacks Consensus Estimate of 63 cents and well above the year-earlier earnings of 8 cents. On a GAAP basis, net...

14Feb2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited – Bull of the Day

Wynn Resorts (WYNN) third quarter 2010 earnings were below the Zacks Consensus Estimate, but results improved on a year-over-year basis primarily driven by higher-than-expected top-line growth. With the global economy showing gradual...

21Jan2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited – Bull of the Day

Wynn Resorts, Ltd. (WYNN) third quarter 2010 earnings results improved on a year-over-year basis, primarily driven by higher-than-expected top-line growth.

With the global economy showing a gradual recovery, the company is...

13Jan2011 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited Misses Earnings Forecast – Beats Revenue

Wynn Resorts Limited (WYNN) reported third quarter 2010 adjusted earnings of 39 cents per share, below the Zacks Consensus Estimate of 41 cents, but above the year-ago quarter earnings of 33 cents. On a GAAP basis, net loss was $33.5...

3Nov2010 | | 0 comments | Continued

(MGM) MGM Resorts International Announces New Chief Operating Officer

MGM Resorts International (MGM), one of the world’s leading global hospitality companies, recently announced the promotion of Corey Sanders to chief operating officer (COO). Over a year ago, Mr. Sanders was promoted as the COO...

19Sep2010 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited Revamps Las Vegas Room

Wynn Resorts Limited (WYNN), which along with its subsidiaries is a leading developer, owner and operator of destination casino resorts with properties in Las Vegas and Macau, announced recently that it has completed the renovation...

14Sep2010 | | 0 comments | Continued

(WYNN) Wynn Resorts Limited – Bull of the Day

We have an Outperform rating on Wynn Resorts (WYNN) as the company’s second quarter 2010 earnings were well ahead of the Zacks Consensus Estimate. They were primarily driven by better-than-expected top-line growth and improvements...

12Aug2010 | | 0 comments | Continued

(LVS) Las Vegas Sands Resumes Building on Macau Project

Las Vegas Sands Corp. (LVS), the casino company controlled by Sheldon Adelson, recently announced that the development of the next phase of Cotai Strip project (Parcels 5 & 6) in Macau, suspended in 2008 due to difficult credit...

24May2010 | | 0 comments | Continued

(WYNN) Wynn Resorts’ Quarterly Earnings Beat Estimate

Wynn Resorts Limited (WYNN) reported first quarter earnings of 26 cents, well ahead of the Zacks Consensus Estimate of 14 cents. The company had incurred a loss of 27 cents per share in the year-ago quarter.

The results were...

5May2010 | | 0 comments | Continued

(MGM) MGM Mirage to Report Earnings Loss

Recently, MGM Mirage (MGM) announced that it would report a loss in the first quarter as a result of an impairment charge associated with CityCenter, its joint venture project with Dubai World, the real estate investment company of...

18Apr2010 | | 0 comments | Continued

(WYNN) Wynn Resorts Abandons Philadelphia, Pennsylvania Project

Wynn Resorts Ltd. (WYNN) has abandoned its plan of a casino project construction in Philadelphia, Pennsylvania.

Last Thursday, the company announced that it had terminated all agreements and negotiations related to its potential...

12Apr2010 | | 0 comments | Continued

(LVS) Casino Stocks Feel Macau Limits on Gaming Growth

Recently, the Macau government announced its plan to limit casino growth in the region. According to the plan, new projects would not be approved while only 500 new gaming tables will be allowed in the next three years. The Macau government, which derives nearly 70% of its revenue from gaming, is...

29Mar2010 | | 0 comments | Continued

(MGM) MGM Mirage Raises $826 Million in Debt Offering

On Wednesday, MGM Mirage (MGM) closed a debt offering and raised approximately $826 million. The company used the proceeds from this offering to fulfill certain requirements for its amended credit facility agreement.

The company...

19Mar2010 | | 0 comments | Continued

(MGM) MGM Mirage’s Contractor Plans CityCenter Project Liens

The primary general contractor of MGM Mirage’s (MGM) $8.5 billion CityCenter project on the Las Vegas Strip is planning to take legal action against its owners.

MGM Mirage, which owns CityCenter in a joint venture with Dubai...

16Mar2010 | | 0 comments | Continued

(WYNN) Wynn Resorts Misses Expectations – Narrows Loss

Wynn Resorts Ltd.’s (WYNN) fourth quarter earnings of 8 cents per share missed the Zacks Consensus Estimate of 12 cents. The company had earned 7 cents per share in the year-ago quarter.

For the quarter, net revenues were...

28Feb2010 | | 0 comments | Continued