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MGM Resorts International

5/21/2013, 1:13 AM ET

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Monday, May 20, 1:54 PM The latest batch of data on gambling revenue from Macau looks promising with the average daily rate over a 7-day tracking period ending yesterday coming in ahead of expectations. If the MTD trend holds, May could be Macau's second best month and help boost the bottom lines for Melco Crown (MPEL +2.4%), Wynn Resorts (WYNN +1.4%), MGM Resorts (MGM +1.5%), and Las Vegas Sands (LVS +0.3%) during the quarter. Comment! [Consumer]
Thursday, May 16, 6:41 AM MGM Resorts (MGM) says it expects MGM China to see a pickup in VIP gaming business and that double-digit growth in the sector is sustainable. The company's top man in Macau says the recent leadership change in China hasn't created a negative impact on business. Comment! [Consumer]
Wednesday, May 15, 7:42 AM Nomura increases its estimate for 2013 Macau gaming revenue to 15% growth from a previous forecast calling for a 13% gain. Estimates for the calendar year from investment firms carry a little more weight now with the revenue haul from Golden Week and the Chinese New Year factored in more accurately. The revised forecast is positive for Macau-sensitive stocks such as Melco Crown (MPEL), Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN). 2 Comments [Consumer]
Tuesday, May 14, 11:11 AM MGM Resorts (MGM +1.3%) enters into a strategic agreement with China State Construction Engineering to help build its Cotai project through subsidiaries. The casino complex is scheduled to be finished in the first half of 2016. Comment! [Consumer]
Monday, May 13, 8:32 AM Nomura is out with a series of price target hikes for gaming stocks on the back of a new report on Macau which "compares the supply demand outlook today … with that of Las Vegas in 1990-2005." Price target rundown: Wynn Resorts (WYNN) to $155 from $147, Penn National (PENN) to $66 from $60, MGM to $16 from $13.50, Boyd (BYD) to $9 from $7, and Las Vegas Sands (LVS) to $67 from $62. 3 Comments
Thursday, May 9, 2:38 PM More on Sterne Agee's call on MGM Resorts (MGM +3.7%) (previous): Analyst David Bain thinks the Las Vegas side of the company's is nearly completely ignored as Macau hogs center stage. After crunching the numbers, Bain values MGM China at $14, essentially leaving the U.S. business trading for scraps. 2 Comments [Consumer]
Thursday, May 9, 8:03 AM Sterne Agree upgrades MGM Resorts (MGM) to a Buy rating and sets a $19 price target on shares. Comment! [Consumer]
Tuesday, May 7, 1:20 PM Analysts are already out with early estimates for gaming revenue in Macau for May. Wells Fargo sees a 13% to 17% increase to potentially pass the $3.75B mark - to easily beat the sub-$1B Vegas casinos will bring in. Naturally, the news is of interest to Melco Crown (MPEL -1.4%), MGM Resorts (MGM -0.5%), Las Vegas Sands (LVS +0.3%), Wynn Resorts (WYNN +0.5%) with every passing month seeing a higher percentage of the group's total revenue Macau-based. 3 Comments [Consumer, Global & FX]
Thursday, May 2, 9:27 AM More on MGM Resorts' (MGM) Q1: Revenue for casinos in the U.S. improved 3% while MGM China was up 6% Y/Y. Just seeing a profit on the bottom line is enough to lift the spirit of investors, MGM +5.1% premarket. (PR) Comment! [Consumer, Earnings]
Thursday, May 2, 9:10 AM Premarket gainers: REGI +23%. CAAS +18%. YELP +12%. MWW +10%. GNRC +9%. NIHD +7%. BZH +7%. GILD +6%. MGM +5%.
Losers: CIG -13%. VLO -7%. TS -6%. 2 Comments [On the Move]
Thursday, May 2, 8:34 AM MGM Resorts (MGM): Q1 EPS of $0.01. Revenue of $2.4B (+3% Y/Y) beats by $0.06B. (PR) Comment! [Earnings, Breaking News]
Thursday, May 2, 12:05 AM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Wednesday, May 1, 5:30 PM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Wednesday, May 1, 10:48 AM Springfield, Massachusetts Mayor Domenic Sarno says the city picked MGM Resorts (MGM -3.5%) over Penn National Gaming (PENN -0.4%) as its candidate to land the sole casino license in the western part of the state. The next step will be approval by voters in a referendum. Comment! [Consumer]
Tuesday, April 30, 7:43 AM Ultimate Gaming will become the first fully legal real-money online poker website in the U.S. when it launches today in Nevada. Players will have to prove they reside in Nevada before being allowed to open an account. What to watch: The lure of tax revenue could be too great for other states to pass up. Expect more states to add online poker or add even more forms of casino gambling online like New Jersey and Delaware have allowed. The big boys (WYNN, MGM, CZR) aren't snoozing the trend and have key online partnerships and initiatives ready to go. Comment! [Consumer]
Thursday, April 25, 10:12 AM Casino watch: JPMorgan tips off that Las Vegas Sands (LVS +2.6%) could see an unexpected Q1 surprise from the Venetian Macao as the new property generates mass revenue at a faster pace than rival casinos. The first quarter earnings parade for the Macau gaming sector (MPEL, MGM, [{WYNN]]) launches today with Wynn Resorts. While channel checks by investment firms indicate strong April traffic in Macau despite the avian bird flu concerns, a confirmation from Wynn could really light up the sector. 3 Comments [Consumer]

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