Thu, Apr. 9, 11:29 AM
- Macau gaming companies continue to consider opportunities outside of the Chinese gambling mecca with other regions forecast to see strong growth.
- Macau Resources Group and Sino Gaming/Macau Group are already in talks with regulators about new casinos in the Philippines, while Caesars Entertainment (CZR -0.2%) is also reportedly interested in the region.
- Singapore, Vietnam, and Japan are all being considered for new long-term projects by various companies.
- Casino stocks with a Macau presence are off and running today, despite more projections on dismal -36% to -40% Y/Y revenue slide for April.
- Turning the spotlight on other Asian markets may be doing the trick.
- Gainers: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY) +7.7%, MGM China (OTCPK:MCHVF, OTCPK:MCHVY) Wynn Resorts (NASDAQ:WYNN) +3.9%, Las Vegas Sands (NYSE:LVS) +3.3%, Melco Crown (NASDAQ:MPEL) +3.2%, Galaxy Entertainment (OTCPK:GXYEF) +2.9%, MGM Resorts (NYSE:MGM) +1.6%.
Tue, Mar. 31, 11:41 AM
- Nevada gaming revenue fell 1.1% to $916.1M during February, according to figures released by the Gaming Control Board.
- Las Vegas Strip casinos saw a 4.4% Y/Y decline to $531.3M during the month
- A poor month for baccarat play was behind much of the tail-off in Las Vegas, although it's not clear if soft traffic or a dismal hold percentage was behind the drop.
- The casino sector is seeing some buying action today on yet more REIT speculation.
- Advancing stocks against a weak tape include Penn National Gaming (PENN +2.2%), Las Vegas Sands (LVS +1%), Wynn Resorts (WYNN +0.7%), Caesars Acquisition (CACQ +2.7%), Caesars Entertainment (CZR +3.4%), Boyd Gaming (BYD +0.7%), Century Casinos (CNTY +1%), Empire Resorts (NYNY +1.1%), and Pinnacle Entertainment (PNK +0.3%).
- Full Nevada Gaming Control Board report (.pdf)
- Previously: A warning on casino REITs (Mar. 28 2015)
Sat, Mar. 28, 8:52 AM
- The rush by the casino industry into REIT conversions could have a damaging long-term impact, warn casino industry analysts.
- The "quick-buck" mentality to eliminate debt through the REIT play sets aside the difficulty down the road to get separate companies with different objectives to agree on needed capital expenditures on properties.
- Buy-and-hold investors could get burned if REIT-touched casino properties lag peers due to the dueling C-suites.
- A REIT cloud hangs over Pinnacle Entertainment (NYSE:PNK), Boyd Gaming (NYSE:BYD), MGM Resorts (NYSE:MGM), and Caesars Entertainment (NASDAQ:CZR) - while Gaming and Leisure Properties (NASDAQ:GLPI) already pulled the trigger.
Fri, Mar. 27, 7:43 AM
- Nevada Gaming Commission Chairman Tony Alamo called the bankruptcy of Caesars Entertainment (NASDAQ:CZR) an "embarrassment" to the state in a meeting yesterday with execs from the company.
- Though the regulators can't get directly involved in the bankruptcy case, Alamo noted the commission gets a "second bite" of the apple down the road as restructuring takes form.
- Shares of CZR are -39% YTD amid the legal battling. Caesars Acquisition Company (NASDAQ:CACQ) is -37% over the same period.
Thu, Mar. 26, 10:03 AM
- Nevada and Delaware launched a multi-state online poker network this week in an effort to grow traffic.
- The platform was built by 888 Holdings (OTCPK:EIHDF).
- Caesars Entertainment (NASDAQ:CZR) has a hand in online poker through Caesars Interactive Entertainment and its WSOP property.
- Online poker revenue in New Jersey, Nevada, and Delaware has disappointed over the last year.
Tue, Mar. 17, 1:11 PM
- The operating arm of Caesars Entertainment (CZR -4.6%) can void a number of deals as part of its bankruptcy.
- The ruling from the judge in the case doesn't allow Caesars to escape some advertising and sponsorship contracts because the parties weren't give enough notice.
- The bankruptcy proceedings have also weighed on Caesars Acquisition Company (CACQ -6.3%) which is a JV involving the parent company.
- Most of the concerns focus on how far a court-appointed examiner can go in looking at transactions Caesars has made prior to the filing.
Tue, Mar. 10, 2:49 PM
- The push to legalize sports betting has a "tidal wave" of momentum behind it, according to some legal and gaming experts.
- NBA commissioner Adam Silver publicly supports bringing sports betting off the black market, and other high-level sports execs say they are open to having discussions on the topic.
- If legalized sports betting were to take off, companies with an edge on the technology front could carve up market share.
- U.K. firm William Hill (OTC:WIMHF, OTCPK:WIMHY) now brings in 40% of its handle via mobile apps.
- Though major casino operators such as Wynn Resorts (NASDAQ:WYNN), Caesars Entertainment (NASDAQ:CZR), and MGM Resorts (NYSE:MGM) face some risk of reduced Las Vegas traffic, they also have a branding advantage with potential bettors which can be leveraged.
- Scientific Games (NASDAQ:SGMS) and Zynga (NASDAQ:ZNGA) appear poised to jump on the sports gambling scene as soon as legalities clear.
- Even Comcast (NASDAQ:CMCSA) is on the periphery of sports betting through Comcast Ventures' property FanDuel.com.
Tue, Mar. 10, 8:00 AM
- The casino industry is starting to make some noise about an IRS proposal to drop the reporting level of casino winnings to $600.
- The IRS wants to lower the threshold on slots and bingo to $600 from $1,200.
- Keno would be taken down to the $600 level from $1,500.
- The new levels would create more work for gaming companies and could cut into hold rates as winners are slowed down.
- Casino lobbyists plan to argue that the thresholds should be raised to adjust for inflation instead of dropped.
- Previously: The IRS eyes casino winnings (Mar. 06 2015)
- Related stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, PENN, MCRI, MGM, CZR, UWN, LACO.
Fri, Mar. 6, 7:03 AM
- The IRS is considering lowering the industry reporting level for casino winnings to $600 from $1,200.
- Casino companies have 90 days to respond to the proposal from the tax agency.
- A lowering of the reporting threshold would pile on extra costs for casinos, according to gaming officials.
- Related stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, PENN, MCRI, MGM, CZR, UWN, LACO.
Tue, Mar. 3, 10:09 AM
- Caesars Entertainment (CZR -5.6%) and Caesars Acquisition Company (CACQ -6%) both trade lower after earnings were reported yesterday.
- Investors don't seem to be dazzled by the cost-savings initiatives stressed by Caesars management and the overall tone during the conference call yesterday.
- A question on if Caesars could raise RevPAR through higher resort fees was met with a "we don't know" response.
- Some growing pains with the Linq complex and new Wheel attraction were also cited during the call.
- Caesars Entertainment earnings call transcript
- Previously: Caesars Acquisition EPS of $0.01 (Mar. 02 2015)
- Previously: Caesars Entertainment EPS of -$6.90 (Mar. 02 2015)
- Previously: Debt load keeps Caesars Entertainment in the red (Mar. 02 2015)
Mon, Mar. 2, 4:28 PM
- Caesars Entertainment (NASDAQ:CZR) reports casino revenue rose 1.6% to $1.371B in Q4.
- The $402M loss was spread across the CEOC ($102M), CERP ($122M), and CGP LLC ($208M) businesses with the parent company chipping in with a $30M profit during the period.
- Start-up costs for new casinos and a below-par hold percentage at Caesars Palace were a drag on profit in the quarter.
- CZR -4.81% after hours.
Mon, Mar. 2, 4:04 PM
Sun, Mar. 1, 5:35 PM
Sat, Feb. 28, 11:57 AM
- Casinos in Nevada saw a 7.75% increase in revenue to $953M during January, according to the Gaming Control Board.
- Revenue on the Las Vegas Strip - dominated by MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) - was up 15.4% Y/Y during the month.
- Total revenue in Atlantic City rose 1% Y/Y in Jan. - although the tally improves to +19% if shuttered casinos are backed out.
- Analysts say improved employment rates in the U.S. and lower gas prices ($2.04 avg in Jan.) helped to drive traffic, although an unusually high baccarat hold percentage in LV also played a factor there.
- But perhaps the biggest driver of the Vegas momentum was the higher RevPAR churned up by hotels (see MGM's Q4) and a meaningful increase in convention business.
- The strong attendance around the Consumer Electronics Show bodes well for major 2015 conventions, notes Macquarie Securities.
- Earlier in the week, a strong report from Isle of Capri (NASDAQ:ISLE) helped to give a boost to regional casino stocks. Regionals have seen a steady increase in traffic over the last 6 months, although capacity concerns still impact some regions.
- Previously: Regional casino stocks get a look as trends improve (Feb. 25)
- Related casino industry stocks: NYNY, FLL, DDE, OTCQB:TPCA, CHDN, CNTY, PNK, BYD, SGMS, OTCPK:AMYGF, CACQ, PENN, MCRI
Fri, Feb. 27, 10:01 AM
- The Nevada Gaming Commission says it allow betting on Olympic events in the state.
- The development could bring in more traffic to Las Vegas during the Brazil Olympics next summer from August 5 to August 21.
- Private sports books operator William Hill could see a benefit through its ownership of more than 100 outlets in Nevada. MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) will also welcome the Olympics action.
- What to watch: Gaming companies are likely to keep pushing the envelope on what bettors in Nevada can take action on - including entertainment and political events. Categories such as the Oscars, American Idol, and elections could broaden the betting demographic.
Fri, Feb. 27, 7:20 AM
- Caesars Entertainment (NASDAQ:CZR) unloaded a 20% interest in three casinos in Ohio to Rock Gaming.
- The company will continue to manage the properties which are outside of Caesars' bankruptcy proceedings.
- Terms of the deal weren't disclosed.
- Shares of CZR are -31.2% YTD amid the legal wrangling over the parent company and operating unit.
CZR vs. ETF Alternatives
Caesars Entertainment Corpalong with its subsidiaries is engaged in providing casino-entertainment and hospitality services. Itsfacilities include gaming offerings, food & beverage outlets, hotel & convention space, and non-gaming entertainment options.
Other News & PR