Las Vegas Pandemic Recovery Continues To Outpace Macau's, Casino Analyst Says

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Why Are Casino Stocks WYNN, LVS Up Today?

Casino stocks are rallying higher on Tuesday on hopes that China will continue relaxing its Covid-19 policies. Those restrictive policies kept a tight lid on local economies and drew the ire of its citizens. Now, investors are looking at potential upside in the country. Wynn Resorts (NASDAQ: WYNN) and Las Vegas Sands (NYSE: LVS) are up about 5% and…

Finance ・ 27 December 2022

Kalkine Media

Kalkine Media explores five US casino stocks to watch in October

The casino sector comprises firms from the gaming industry that offer leisure and other related services through their resorts and casino gaming properties. To name some, Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), MGM Resorts International (NYSE: MGM), Caesars Entertainment, Inc. (NASDAQ: CZR), and Boyd Gaming…

Finance ・ 22 September 2022

Markets Insider

Macau Lockdown Slashes Targets For Las Vegas Sands, MGM, Wynn

Gambling stocks traded sharply lower on Monday morning as Macau casinos shut down for a week. In response, one Wall Street analyst cut his price targets for U.S.-listed casino stocks with exposure to Macau. The Analyst: Bank of America analyst Shaun Kelley issued the following price target cuts on Monday: Las Vegas Sands Corp. (NYSE: LVS),…

Covid ・ 12 July 2022

Markets Insider

Why Are Casino Stocks WYNN, LVS Down Today?

Wynn Resorts (NASDAQ: WYNN) stock and Las Vegas Sands (NYSE: LVS) stock are both declining 8% in early morning trading. Casino stocks are slumping after new Covid-19 restrictions were imposed in the Chinese region of Macau. Although Wynn and Las Vegas Sands are based in the U.S., they both own multiple casinos in Macau. After the new coronavirus…

Finance ・ 11 July 2022

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Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

Markets Insider

Casino Stocks WYNN, LVS, MGM, MLCO Gain on Easing Covid-19 Restrictions

China is finally starting to lift its lockdown protocols. According to Bloomberg, the country is now "reporting the lowest number of new cases since early February." On top of that, the nation is reducing the required quarantine time for international travelers. This means that the Chinese economy is clear to start making up lost ground. For the…

Covid ・ 28 June 2022

Seeking Alpha

New Macau gaming bill advances to final vote

Bank of America said the final version of the gaming law passed by the Macau Legislative Assembly reflected the amendments that have been revealed in the past couple months and were in-line with expectations. The amendment bill allows for six new concessions, with a maximum term of 10 years and three-year extension possible under certain…

Travel ・ 17 June 2022

Seeking Alpha

Las Vegas Sands, Casino stocks surge as Shanghai looks set to end lockdowns (NASDAQ:WYNN)

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening "in a few days" as case numbers fall. The nation's most populous city is seen as a key bellwether for the country's Zero-COVID policy, therefore holding…

Covid ・ 13 May 2022

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Seeking Alpha

Macau casino revenue plunges to 18-month low

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pre-pandemic level of April of 2019. COVID restrictions in…

Finance ・ 02 May 2022

Vegas Slots Online

Why Are Macau Casinos Struggling in Pandemic Recovery?

Commenting in August 2020, analysts from investment bank JP Morgan predicted that the Macau gambling market would begin its road to recovery from the COVID-19 pandemic in mid-August that year. They estimated that casinos would recuperate 2019 levels of gross gaming revenue (GGR) by Q32021, pointing to the easing of travel restrictions and an…

Covid ・ 03 April 2022

Seeking Alpha

Macau casino revenue slumps to 18-month low

Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month. Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The…

Finance ・ 01 April 2022

Markets Insider

4 Reasons Macau Casino Stocks Are Tanking

Macau casino stocks have taken a beating so far in 2022, but the selling pressure has intensified in recent days. On Tuesday, Bank of America analyst Shaun Kelley highlighted at least four reasons investors are dumping Macau stocks. Reasons For The Sell-Off: For the past year, Kelley has repeatedly discussed the "three C's" weighing on Macau…

Finance ・ 15 March 2022

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Seeking Alpha

Macau casino revenue for February falls short of estimates

Macau gross gaming revenue gained 6.1% in February to 7.76B patacas ($0.96B) to trail the consensus estimate for a 7.0% increase. Ongoing COVID restrictions and a sharp crackdown on two junket operators impacted traffic negatively. Macau GGR is down 8% on a year-over-year basis. Jefferies is not confident that a positive turn for Macau is…

Finance ・ 01 March 2022

Seeking Alpha

Macau casino revenue slumps in January ahead of Winter Olympics

Macau gross gaming revenue fell 20.9% in January to 6.34B patacas ($785M). Although the GGR tally topped the consensus expectation for a fall of 31%, the rate of growth was far worse than the+1.8% mark recorded in December. The crackdown on Macau junket operators and tighter border restrictions ahead of the Winter Olympics also impacted Macau…

Finance ・ 01 February 2022

The Motley Fool

Investing in Casino Stocks

A night at the casino might seem like an experience frozen in time -- imagine visions of James Bond or pressing your luck at the craps table -- but the casino industry is changing fast, and new developments present a unique opportunity for investors. Online gaming is becoming legal in many U.S. states, and both old-school casino chains and upstart…

Finance ・ 31 January 2022

Markets Insider

JPMorgan Analyst Upgrades Las Vegas Sands, Optimistic About Macau Gaming License Renewal

A day after casino stock Las Vegas Sands Corp. (NYSE: LVS) was hit with a Wall Street downgrade, the stock bounced back on Tuesday when it was upgraded by another analyst. The Analyst: JPMorgan analyst Joseph Greff upgraded Las Vegas Sands from Neutral to Overweight and raised his price target from $36 to $48. The Thesis: In the upgrade note, Greff…

Covid ・ 12 January 2022

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Investor Place

3 Top Casino Stocks That Could Make a Comeback in 2022

Over the past year, casino stocks have been devastated by the novel coronavirus pandemic. Just take a look at some of the losses a handful of major players in the sector have seen: Las Vegas Sands (NYSE: LVS) fell from a January 2020 high of $74.29 to now sitting at $35 Wynn Resorts (NASDAQ: WYNN) fell from $153.41 in January 2020 to $82.15…

Finance ・ 20 December 2021

Markets Insider

Macau And Las Vegas Gaming Revenues Are Headed In Opposite Directions: What's Next?

Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs. Both gaming destinations took big hits during the COVID-19 pandemic, but the latest gross gaming revenue numbers suggest Vegas is bouncing back strong while Macau is still struggling. The Numbers: Many Americans think of Vegas as the top gambling destination,…

Finance ・ 11 December 2021

New Jersey Online Gambling

Junket Operator's Arrest Drives Macau Casino Stocks Down

Macau casino stocks tanked this week after the arrest of 11 junket operators. Alvin Chau, Suncity Group Holdings' CEO, was among those detained. The region's casino stocks were already struggling due to new virus concerns, but the specter of more regulatory crackdowns pushed them lower still. During the'08-'09 financial crisis, Macau casino stocks…

Finance ・ 01 December 2021

WTOP

7 Best Gambling Stocks to Buy

Analysts recommend these gambling stocks in 2021. The gambling industry has been one of the hardest hit by the pandemic in 2020, and casinos were especially affected during the economic shutdown. Destinations such as Las Vegas and Macao have had a particularly difficult struggle due to travel restrictions. At the same time, the pandemic accelerated…

Top and Best ・ 27 July 2021

Markets Insider

Analyst Cuts Price Targets For Wynn, Las Vegas Sands As Macau Gaming Recovery Lags

Gambling stocks have been a mixed bag for investors in 2021 given uneven trends in U.S. casino gambling, online sports betting and iGaming, as well as a sluggish recovery in the Macau, China market. On Thursday, one analyst cut price targets for two gaming leaders that are being dragged down by Macau. The Analyst: Bank of America analyst Shaun…

Incidents ・ 15 July 2021

Markets Insider

July 4 Weekend Room Rates In Las Vegas Now 50% Above Pre-Pandemic Levels

It's been a long road back for Las Vegas casinos since the pandemic hit last year, but one metric suggests next weekend could be a big weekend for Vegas. The Numbers: Bank of America analyst Shaun Kelley said Vegas Strip room rates are more than 50% above 2019 levels heading into the holiday weekend. Las Vegas flight searches are also up 2% from…

Covid ・ 28 June 2021

Seeking Alpha

Wynn Resorts, Las Vegas Sands lead rally in Macau casino stocks on reopening hopes

Macau gross gaming revenue fell 10.7% in October to $3.9B patacas ($482M) compared to a year ago, according to data from the Gaming Inspection and Coordination Bureau. The GGR tally was worse than the -8.5% consensus mark anticipated by analysts. October casino GGR was up 31.6% on a month-on-month comparison with some tourism channels to Macau from…

Travel ・ 01 November 2022