China Gaming Stocks Get That Lovin' Feelin' (MGM) (LVS) (WYNN)
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Price: $43.01 -0.37%
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Game on as investors are all in today on the gaming industry.
Following the typhoon that hit China, recent scares of slowing growth in Asia, and the overall sentiment on the global economy, shares in the gaming industry have fallen substantially.
On September 29, a typhoon hit China and caused all transportation to be halted from inland China to Macau. On October 4, all fears that the typhoon may have caused substantial damage to gaming revenues and structures should have been diminished as Macau’s Gaming Inspection and Coordination Bureau reported that gaming revenues rose 39 percent year-over-year for the month of September. The Bureau also highlighted that businesses were running smoothly as usual and that the typhoon didn't have much impact on gaming operations.
Many analysts are behind the gaming industry and note that shares are extremely attractive at their current price. With many of the gaming companies now looking to Macau for a large portion of their growth, gaming shares listed on the NYSE trade closely with the Asian markets which all closed up nicely.
Joe Greff, an analyst at JPMorgan, believes that LVS is the best play in the sector while MGM was upgraded to a Buy rating by three financial firms in September. Since August, Shares of WYNN have been upgraded by three financial firms to a Buy rating. Deutsche Bank has also initiated coverage on shares of LVS, WYNN, and MGM with Buy ratings in the month of September.
Over the past month, shares in the casino and gaming industry are down 11.08 percent as the S&P 500 has only fallen 1.44 percent.
Shares of MGM (NYSE: MGM) are trading down 19 percent since their high in September and are trading up 3 percent on the day to $9.00.
Shares of Las Vegas Sands (NYSE: LVS) are trading down 16 percent since their peak in September and are trading up 3.4 percent on the day to $41.40.
Shares of Wynn Resorts (Nasdaq: WYNN) are trading down 20 percent since their peak in September and are up 4.9 percent on the day to $125.80.
Shares of Melco Crown Entertainment (Nasdaq: MPEL) are trading down 28 percent since their peak at the beginning of September and are trading up 11.9 percent on the day to $9.35.
Following the typhoon that hit China, recent scares of slowing growth in Asia, and the overall sentiment on the global economy, shares in the gaming industry have fallen substantially.
On September 29, a typhoon hit China and caused all transportation to be halted from inland China to Macau. On October 4, all fears that the typhoon may have caused substantial damage to gaming revenues and structures should have been diminished as Macau’s Gaming Inspection and Coordination Bureau reported that gaming revenues rose 39 percent year-over-year for the month of September. The Bureau also highlighted that businesses were running smoothly as usual and that the typhoon didn't have much impact on gaming operations.
Many analysts are behind the gaming industry and note that shares are extremely attractive at their current price. With many of the gaming companies now looking to Macau for a large portion of their growth, gaming shares listed on the NYSE trade closely with the Asian markets which all closed up nicely.
Joe Greff, an analyst at JPMorgan, believes that LVS is the best play in the sector while MGM was upgraded to a Buy rating by three financial firms in September. Since August, Shares of WYNN have been upgraded by three financial firms to a Buy rating. Deutsche Bank has also initiated coverage on shares of LVS, WYNN, and MGM with Buy ratings in the month of September.
Over the past month, shares in the casino and gaming industry are down 11.08 percent as the S&P 500 has only fallen 1.44 percent.
Shares of MGM (NYSE: MGM) are trading down 19 percent since their high in September and are trading up 3 percent on the day to $9.00.
Shares of Las Vegas Sands (NYSE: LVS) are trading down 16 percent since their peak in September and are trading up 3.4 percent on the day to $41.40.
Shares of Wynn Resorts (Nasdaq: WYNN) are trading down 20 percent since their peak in September and are up 4.9 percent on the day to $125.80.
Shares of Melco Crown Entertainment (Nasdaq: MPEL) are trading down 28 percent since their peak at the beginning of September and are trading up 11.9 percent on the day to $9.35.
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