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Wed, Jan. 20, 10:40 AM
- Casino stocks are getting battered as the cases for revenue recoveries in Macau and Las Vegas start to crumble. Analysts note that the correlation between stock market turmoil and a drop in VIP casino traffic is hard to ignore.
- Major losses are being racked up by Wynn Resorts (WYNN -10.1%), Melco Crown (MPEL -9.7%), MGM Resorts (MGM -9.5%), Las Vegas Sands (LVS -8.7%), Caesars Entertainment (CZR -8.3%), Boyd Gaming (BYD -8.2%), Century Casinos (CNTY -7.6%), Pinnacle Entertainment (PNK -6.8%), and Penn National Gaming (PENN -6.1%).
- Related ETF: BJK.
Mar. 9, 2015, 9:53 AM
- A powerful bid from Gaming & Leisure for Pinnacle's (PNK +18.6%) real estate is helping to give a lift to other regional casino stocks in early trading.
- The sector, which already has been an out-performer in 2015 due to a recovery in casino traffic amid lower gas prices in the U.S., has some underlying REIT potential bubbling under the surface, according to analysts.
- Previously: Pinnacle Entertainment soars as Gaming & Leisure bids for its real estate (Mar. 09 2015)
- Gainers: Isle of Capri (NASDAQ:ISLE) +2.3%, Boyd Gaming (NYSE:BYD) +7.0%, Penn National Gaming (NASDAQ:PENN) +2.1%, Century Casinos (NASDAQ:CNTY) +0.8%.
Nov. 20, 2014, 8:38 AM
- Shares of Boyd Gaming (NYSE:BYD) move higher in premarket trading after Caesars Entertainment (NASDAQ:CZR) reportedly sets the wheels in motion to launch a REIT out its largest unit.
- REIT chatter has lifted some casino stocks in the past, although skeptics warn the tangled structure of Caesars isn't something for a buy-and-hold investor to bet on.
- Premarket: BYD +1.2%, CZR +18.2%
- Related stocks: ISLE, FLL, MCRI, PNK, UWN, CNTY.
- Related ETFs: BJK.
Nov. 21, 2013, 2:37 PM
Nov. 14, 2013, 12:45 PM
Sep. 16, 2013, 12:46 PM
Aug. 14, 2013, 12:45 PM
Mar. 8, 2013, 10:08 AMRevenue at Las Vegas Strip casinos fell 18.7% Y/Y in January after rising 13.5% in December. Though the sector sees a lot of monthly volatility, the +30 percentage swing is raising some eyebrows. The timing of the Chinese New Year could be a factor due to the intense high-stakes baccarat play it brings in, but revenue also slipped in areas outside of Vegas indicating some underlying weakness. Vegas-oriented casinos stocks (LVS, MGM, CZR, WYNN) are underperforming regional players (BYD, ASCA, CNTY) and Macau-focused Melco Crown (MPEL +1.8%) for the day. | Mar. 8, 2013, 10:08 AM | 1 Comment
Sep. 26, 2011, 1:55 PM
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