From Macau to the USA all of gaming was down or flat Gambling Stock Roundup: MGM Opens T-Mobile Arena, Las Vegas Sands Pays $9M Fine http://finance.yahoo.com/news/gambling-stock-roundup-mgm-opens-195307145.html
Gaming mixed this morning as the Dow is up 136. MPEL leads the pack possibly on good data from China as MPEL is the only pure Macau play. Looking for WYNN to drop below 90 when the markets head south unless Steve buys it back up again.
Gaming Stocks were mostly up today. Citigroup maintained a buy on MGM as well as LVS. Getting strength from the market rally, WYNN came off it's lows to fight off the shorts. As I said in the MPEL thread there was some unusual trading on MPEL and I feel there is something going on behind the scenes that has not been made public yet. I give a few different scenarios in the thread below. MPEL http://stockaholics.net/threads/mpel-melco-crown-entertainment-limited.140/#post-2106
The Big 4 were up decently last night in Hong Kong with MPEL leading the charge, up 3.75% and WYNN is up 3.14% in pre-market Macau casino sector less bad, not better: Deutsche Bank http://www.ggrasia.com/macau-casino-sector-less-bad-not-better-deutsche-bank/
The Big 4 was up at the open only to lose their gains. Note that Steve Wynn has been buying his shares in the open market as WYNN has become a target of the shorts. CNTY continues to stay in a slim channel if you are daytrading as it has been consistent with it's bounces.
The Big 4 are trading flat this morning in a flat market. The only notable news is on MPEL MPEL - Lawrence Ho firm gains board control at Russia casino http://stockaholics.net/threads/mpel-melco-crown-entertainment-limited.140/#post-2394
Gaming was mixed today as the markets were up big. I am not sure why they did not perform but I think WYNN might be putting a drag on the sector. The only positive was that the losses were on low volume
The Big 4 finally came out with some gains yesterday and mixed in pre-market right now. Reading the news Macau is negative then I read the following article that is 180 from that Shorts Back Out of Melco Crown as Macau Outlook Improves: Chart Bears are cutting their losses on Melco Crown Entertainment Ltd. as the Macau casino operator has rebounded as much as 46 percent in the past 10 weeks. Short interest in the U.S.-traded stock is around 4 percent of outstanding shares, a 13-month low and down from a peak of 11 percent in December. The sentiment shift comes as data show that Macau casinos’ strategic shift to attract more mass-market gamblers instead of junket-supported VIP players may be starting to take hold and Melco Crown expands its operations outside the gambling enclave. More http://www.bloomberg.com/news/artic...au-outlook-improves-chart?cmpid=yhoo.headline 4/19/2016
Gaming mixed and barely moving the needle but when LVS reports after the bell, I am sure it will move big one direction or another
I check the Hong Kong exchange every night and LVS is usually trailing the other Big 3. Tonight the market is up and gaming is down led by LVS. Holding up better is MPEL , then WYNN and MGM in that order Currency moves, Macau hurt LVS net income in 1Q Net income at casino developer and operator Las Vegas Sands Corp fell approximately 37.4 percent in the first quarter. On a U.S. generally-accepted accounting principles (GAAP) basis, such income decreased to just under US$320.2 million, compared to US$511.9 million in the first quarter of 2015, the firm said in a filing to the New York Stock Exchange on Wednesday. The decrease in net income attributable to Las Vegas Sands “reflected the decline in operating income… as well as a US$35.8 million mark-to-market loss on Singapore dollar forward contracts. This was partially offset by a US$10.4 million decrease in net income attributable to non-controlling interests,” said the group. Robert Goldstein, the group’s president and chief operating officer, mentioned on the accompanying first quarter earnings call that the first quarter results in Macau had been negatively affected by a “bad debt hit of US$22 million versus the fourth quarter”. That, combined with “some weakness… in the rooms and non-gaming side food and beverage,” had cost the group’s Macau operation approximately US$60 million in the quarter, added Mr Goldstein. Group wide, diluted earnings per share in the first quarter of 2016 decreased 37.5 percent to US$0.40, compared to US$0.64 in the prior-year quarter. On a GAAP basis, group operating income in the first quarter of 2016 decreased 17.6 percent to US$585.6 million, compared to US$711.1 million in the first quarter of 2015. More http://www.ggrasia.com/currency-moves-macau-hurt-lvs-net-income-in-1q/
I thought the sell off on LVS yesterday was overdone as the shorts were all over the sector. Here is a little encouraging stats Overnight visitors to Macau up 14 pct in March The tally of visitor arrivals to Macau in March increased by 4.2 percent year-on-year to nearly 2.37 million, show data released on Friday by the city’s Statistics and Census Service. The number of overnight visitors in March rose by 14.1 percent to approximately 1.17 million, but the total of same-day visitors that month dropped by 3.9 percent, to approximately 1.19 million. The average length of stay of visitors in March increased by 0.3 of a day judged year-on-year, to 1.2 days, said the statistics bureau. For the whole of the first quarter, total visitor arrivals rose marginally by 0.6 percent year-on-year, to nearly 7.46 million. The number of visitors to Macau in March from mainland China increased by 1.8 percent year-on-year to approximately 1.48 million, or 62.7 percent of all visitors that month. More http://www.ggrasia.com/overnight-visitors-to-macau-up-14-pct-in-march/
Besides the down market I think this is what is dropping WYNN and MPEL this morning. MGM and LVS holding up much better Melco Crown Entertainment Ltd. and the Macau unit of Wynn Resorts Ltd. are potentially most at risk among casino operators exposed to debt-ridden gaming promoters as the local government continues its push for oversight, according to Daiwa Securities Group Inc. The Macau government’s drive to compensate investors cheated by a former employee at a junket operator last year exposes risks and "substantial responsibilities" casinos and operators in the world’s largest gambling hub face, according to Daiwa analyst Jamie Soo in Hong Kong. Gaming promoters, who lend to high-stakes gamblers, are still under significant operating pressure with at least HK$30 billion ($3.9 billion) in bad debt still outstanding at conservative estimates, he wrote. "This problem of rising bad debts continues to be a major issue in Macau, and is among the key drivers for the successive junket mergers and closures that we continue to see today," Soo wrote in a note April 22. Wynn and Melco hold the "riskiest slice of the industry’s junket business" because they have the most revenue among casino operators exposed to the high-stakes gambling segment, he wrote. More http://www.bloomberg.com/news/artic...f-macau-s-gaming-business?cmpid=yhoo.headline
Yeah the junket operators is quite the business and there is a lot of related crime that comes with it. Gaming is weak and mixed this morning for the Big 4 with WYNN and LVS lagging
Oakland Raiders moving to Vegas? If they make the move, Vegas gaming stocks will soar. There is also a possibility that Mark Davis is using this for leverage to get what he wants in Oakland. Sheldon Adelson wants to lure the Raiders to move to his Las Vegas dome. What could go wrong? http://qz.com/669713/sheldon-adelso...egas-dome-what-could-go-wrong/?utm_source=YPL Reports: Mark Davis to pledge Raiders move to Las Vegas if domed stadium is built http://www.reviewjournal.com/sports...raiders-move-las-vegas-if-domed-stadium-built
The Big 4 are up slightly on this PR as the markets are down Macau casino Galaxy earnings in line with forecasts; upbeat on outlook HONG KONG, April 27 (Reuters) - Macau's Galaxy Entertainment posted a 6 percent rise in first-quarter earnings on Wednesday, in line with forecasts, and sounded a positive note for the coming year. Macau casino revenues have tumbled over the past 23 months due to slowing economic growth in China and an anti-corruption campaign which has kept high roller gamblers away from the baccarat tables in the southern Chinese enclave. More http://finance.yahoo.com/news/macau-casino-galaxy-earnings-line-015159353.html
Gaming mixed this morning as the markets are down Penn National Gaming First Quarter Revenue Rises 13.9% to $756.5 Million and Adjusted EBITDA Increases 15.5% to $212.9 Million http://finance.yahoo.com/news/penn-national-gaming-first-quarter-110000846.html
