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- Monarch's latest results were another disappointment, as the gaming operator missed EPS estimates by $0.11 and revenue dropped 3.7% y/y.
- The latest results proved my short thesis, but it's time to cover, as shares look fairly valued.
- I stated in my original article that competitive headwinds would pressure the company's business and that its shares were overvalued.
There are no Transcripts on MCRI.
Sat, Nov. 29, 10:29 AM
- Analysts with Gasbuddy.com predict some gas stations in the U.S. will offer $2 per gallon gas by Christmas.
- The last time the average price of gas in the U.S. was below $2 was in March of 2009.
- Forecasts from economists vary widely on the overall gas benefit to consumers for Q4. The high end from the group is an outlook of $300 per household, while the low end is closer to $100.
- Most analysts see an immediate lift for retail chains with large distribution channels. Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Costco (NASDAQ:COST), Dollar General (NYSE:DG), Family Dollar (NYSE:FDO), Dollar Tree (NASDAQ:DLTR), Big Lots (NYSE:BIG), and Five Below (NASDAQ:FIVE) come to mind.
- Airline stocks (JBLU, DAL, UAL, LUV, AAL, RJET, ALK, HA, ALGT, VA) have already ripped strong gains off the OPEC news, although some see even more long-term upside as forward fuel hedges get reworked.
- A sustained period of low gas prices should lift restaurant stocks (CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, THI, BDL, NATH, LUB, BKW, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN) say some analysts.
- The gaming sector is (CZR, PNK, BYD, ISLE, CNTY, MCRI, MGM, NYNY) also an off-the-radar pick to bounce.
Thu, Nov. 20, 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.
Wed, Oct. 22, 5:09 PM| Comment!
Thu, Jul. 24, 5:11 PM| 1 Comment
Sat, May. 24, 3:39 PM
- Revenue from online gaming continues to disappoint in New Jersey. The Internet win for April for major players Borgata (BYD, MGM), Caesars Interactive (CZR), Trump, and Golden Nugget came in at $11.4M - less than $11.8M brought in during March. Original forecasts called for a take of over $30M a month in 2014.
- Easy access to illegal online gambling operators is thought to be reducing customer traffic. As a result, gaming companies are having a tough time capturing their investments as quickly as anticipated and are turning conservative.
- Boyd Gaming says it will cut advertising after recording a $3.2M loss from its Internet gaming business in Q1, while 888 Holdings (EIHDF) is shifting ad dollars to slots.
- The total gaming win in New Jersey (online and brick-and-mortar casinos) through April is down 1.2% to $874M. (Full report .pdf)
- The impact on brick-and-mortar casino traffic from legalized online gaming has been negligible so far in Nevada as well.
- Related: Online casinos face a hurdle from within the industry
- Casino stocks: TPCA, PNK, PENN, LVS, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
Wed, May. 21, 12:07 PM
- The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.
- Casino heavyweights have bickered over what the regulatory framework should be for the industry.
- Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
- Related ETFs: BJK
Wed, Feb. 26, 5:23 PM| Comment!
Thu, Jan. 16, 1:32 PM
- Regional gaming stocks are getting beat up as a slew of states report underwhelming revenue totals for December.
- Though the winter weather was expected to take a toll, some of the numbers are worse than anticipated. Casino sales in snow-free Los Angeles slipped 5%, while sales at Lousiana-region complexes were off 9%. Even tribal casinos had a tough month, with slot revenue down 11% Y/Y.
- The Markets Vectors Gaming ETF (BJK) is holding up with its portfolio heavily skewed toward Las Vegas and Asian casino giants.
- Related stocks: DDE, NYNY, MNTG, ISLE, BYD, PENN, PNK, MCRI, CNTY.
Wed, Jan. 8, 7:30 AM
Thu, Jan. 2, 8:57 AM
- Casino stocks should be approached with an air of caution in 2014 after the sector ran up some gaudy gains in 2013 to stretch out valuation, warns Hedgeye's Todd Jordan.
- Though online gambling in the U.S. and new opportunities in Singapore and Japan provide plenty of upside potential for the industry, a cooling-off period for some red-hot names could be seen until visibility clears on the new revenue streams.
- The long-term potential for both regional and global casino stocks still looks very bright, according to most analysts.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MPEL, MCRI, ISLE, CNTY,
- Related ETF: BJK
Oct. 23, 2013, 12:46 PM
Oct. 23, 2013, 10:08 AM
- Monarch Casino & Resort (MCRI -16.7%) shares are taking a beating even after the casino operator beat expectations in Q3. Shares had run up 131% since May through yesterday's close, and investors may have expected more.
- Revenue at the Atlantis operation increased 6.5% Y/Y to $37.1M, while Monarch Black Hawk revenue expanded 6.4% to $11.9M. (PR)
- EBITDA rose 3.6% Y/Y to $12.8M.
- Not helping: Brean Capital downgraded MCRI to Hold, citing valuation.
Oct. 22, 2013, 5:57 PM
Jul. 25, 2013, 12:13 AM
Apr. 26, 2013, 7:56 AMIt won't be seen on the transcript (read it here), but Steve Wynn seemed to literally slam the table as he brought home the point during Wynn Resorts' (WYNN) earnings call that regional casinos are nothing but "boxes of slots." The exec is convinced that the premium Wynn experience will play well in new markets such as Boston and Philadelphia where the firm is vying for licenses to pressure regional operators. The burning sector question: How much of a hit will regional casino operators (PENN, MCRI, ASCA, ISLE, BYD, CNTY, PNK) take as big Vegas companies expand more into their turf? | 1 Comment
Apr. 25, 2013, 5:45 PM
MCRI vs. ETF Alternatives
Monarch Casino & Resort Inc owns and operates the Atlantis Casino Resort Spa, a hotel or casino facility in Reno, Nevada; the Monarch Casino Black Hawk in Black Hawk, Colorado and real estate proximate to the Atlantis and Monarch Casino Black Hawk.
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