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MCRI vs. ETF Alternatives
Wednesday, Feb 265:23 PM|Wednesday, Feb 265:23 PM| Comment!
Thursday, Jan 161:32 PM
Thursday, Jan 161:32 PM| 4 Comments
- 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.
Wednesday, Jan 87:30 AM|Wednesday, Jan 87:30 AM| Comment!
Thursday, Jan 28:57 AM
Thursday, Jan 28:57 AM| Comment!
- 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
Wednesday, Oct 232013, 12:46 PM|Wednesday, Oct 232013, 12:46 PM| Comment!
Wednesday, Oct 232013, 10:08 AM
Wednesday, Oct 232013, 10:08 AM| Comment!
- 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.
Tuesday, Oct 222013, 5:57 PM
Thursday, Jul 252013, 12:13 AM
Friday, Apr 262013, 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? |Friday, Apr 262013, 7:56 AM| 1 Comment
Thursday, Apr 252013, 5:45 PM
Thursday, Apr 42013, 8:58 AMGaming companies in Nevada are asking the state legislature to restrict the growth of strip mall slot machine parlors and sports betting kiosks as the proliferation of smaller gambling outlets starts to threaten the casino model. The big picture: Though they still hold most of the cards, look for intensified lobbying from casino execs as online ventures and looser gambling laws continue to chip away at the industry. |Thursday, Apr 42013, 8:58 AM| Comment!
Friday, Mar 222013, 1:20 PMIs casino growth tapped out in the U.S? Documents filed in the bankruptcy case of Atlantic City's Revel estimates the casino property is now worth only $246M-$331M after costing close to $2.4B. The development follows other news from regional players across the U.S. of casino companies taking market share from each other as saturation becomes a factor. Another fly in the ointment for future brick-and-mortar growth is the tantalizing prospect for online gambling. |Friday, Mar 222013, 1:20 PM| 15 Comments
Thursday, Feb 282013, 5:32 PM
Friday, Dec 212012, 8:36 AM
Wednesday, Oct 242012, 6:00 PM
Thursday, Aug 232012, 2:55 PMMonarch Casino & Resort (MCRI +1.1%) lands approval from the Nevada Gaming Commission to provide intrastate online poker to customers. The small casino operator could join South Point Hotel and Casino with live online cash play as early as this fall if final regulatory hurdles are cleared. The big boys (CZR, WYNN, MGM, BYD) are still circling around waiting for their chance to jump into the game. |Thursday, Aug 232012, 2:55 PM| 1 Comment