Slow February Expected in Macau; Gaming Stocks Tick Lower (LVS) (MGM) (WYNN)
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Price: $47.03 +2.31%
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Gaming stocks are lower Tuesday amid new Macau analysis out of Well Fargo for February revenue numbers.
Analyst Cameron McKnight says gaming revs in the gambling mecca are tracking for a 2 to 6 percent gain over the same period last year. That compares with Wells' earlier expectations of 5 to 10 percent of gains and the Street consensus of about 10 percent.
McKnight notes that weakness might come from one less day in February this year versus the prior year. Adjusting for this, underlying growth could be six percent to 10 percent.
Las Vegas Sands (NYSE: LVS) Q113 consensus views might be at risk, McKnight notes, though new Cotai Central table games might offset overall weakness.
Sterne Agee commented that Macau revs might rise 1 percent in February, hampered by post-Chinese New Year lull as well as the government's new effort to crack down on corruption.
Other stocks lower today include Wynn Resorts Ltd. (Nasdaq: WYNN), Melco Crown Entertainment Limited (Nasdaq: MPEL), and MGM Resorts (NYSE: MGM).
NOTE: Nomura was out with comments on Macau earlier today. For more color, click here.
Analyst Cameron McKnight says gaming revs in the gambling mecca are tracking for a 2 to 6 percent gain over the same period last year. That compares with Wells' earlier expectations of 5 to 10 percent of gains and the Street consensus of about 10 percent.
McKnight notes that weakness might come from one less day in February this year versus the prior year. Adjusting for this, underlying growth could be six percent to 10 percent.
Las Vegas Sands (NYSE: LVS) Q113 consensus views might be at risk, McKnight notes, though new Cotai Central table games might offset overall weakness.
Sterne Agee commented that Macau revs might rise 1 percent in February, hampered by post-Chinese New Year lull as well as the government's new effort to crack down on corruption.
Other stocks lower today include Wynn Resorts Ltd. (Nasdaq: WYNN), Melco Crown Entertainment Limited (Nasdaq: MPEL), and MGM Resorts (NYSE: MGM).
NOTE: Nomura was out with comments on Macau earlier today. For more color, click here.
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