MGM, Las Vegas Sands Outperform Wynn After Results (MGM) (LVS) (WYNN)
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Price: $43.74 +1.32%
Financial Fact:
Net income (loss) attributable to MGM Resorts International: 535.62M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Net income (loss) attributable to MGM Resorts International: 535.62M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Political rant aside, MGM Resorts (NYSE: MGM) and Las Vegas Sands Corp. (NYSE: LVS) are thanking rival Wynn (Nasdaq: WYNN) as strong results from Steve Wynn's casino powerhouse are driving the two stocks higher Tuesday.
MGM Resorts is getting a 4 percent boost while Las Vegas Sands shares are up 2 percent. This compares to a 0.9 percent move lower or Wynn.
Wynn reported second-quarter EPS of $1.60, $0.61 better than the analyst estimate of $0.99. Revenue for the quarter came in at $1.37 billion versus the consensus estimate of $1.26 billion.
Las Vegas was a surprising bright spot, with Wynn Las Vegas reporting second-quarter property revenue up 23 percent to $391 million and adjusted properly EBITDA of $133 million, up 104 percent from last year. The company also noted international business is up over 75 percent.
Macau was also strong, with Wynn Macau’s net revenue up 37 percent from last year to $976.5 million and adjusted EBITDA up 45 percent to $314.3 million.
LVS reports results on July 26 and MGM on August 8.
MGM Resorts is getting a 4 percent boost while Las Vegas Sands shares are up 2 percent. This compares to a 0.9 percent move lower or Wynn.
Wynn reported second-quarter EPS of $1.60, $0.61 better than the analyst estimate of $0.99. Revenue for the quarter came in at $1.37 billion versus the consensus estimate of $1.26 billion.
Las Vegas was a surprising bright spot, with Wynn Las Vegas reporting second-quarter property revenue up 23 percent to $391 million and adjusted properly EBITDA of $133 million, up 104 percent from last year. The company also noted international business is up over 75 percent.
Macau was also strong, with Wynn Macau’s net revenue up 37 percent from last year to $976.5 million and adjusted EBITDA up 45 percent to $314.3 million.
LVS reports results on July 26 and MGM on August 8.
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