PanamaJim

Three Casino Stocks Rolling Over

GOV’T RESTRICTIONS COULD CURB CASINOS MACAU OPS
Shares of casino operators have tumbled sharply in Tuesday’s trading amid concerns that the surging revenues gleaned from operations in Macau could be imperiled by efforts on the part of the Chinese government to curb visits to the gaming destination. Shares of Las Vegas Sands (LVS) dropped 11% Tuesday, MGM Mirage (MGM) fell a comparable 11%, and Wynn Resorts (WYNN) slid 7%. A Morgan Stanley research note quoted news accounts in Asia indicating the Mainland Chinese government has considered additional restrictions on visas to Macau as part of its effort to slow gaming activities on the part of its citizens. One limit being floated: restricting visas so gamblers could visit every six months instead of the current allowance of every two months. Morgan Stanley said the Chinese government has made it clear it wanted to further restrict visits, and that such visas restrictions are one way of accomplishing its aims. However, the firm described the every-six-month limit as ”extreme,” and suggested that the worst-case scenario under discussion isn’t definite. Nevertheless, revenue generated at the gaming operations in Macau, which outstrip the take from the Vegas Strip and Atlantic City combined, is expected to decline this year. Morgan Stanley forecast growth would flow from the 50% pace of the first half of this year to about 25% in the second half and 16% in 2009.

Doesn't look like a smart bet these days.......

Casino Stocks Scream Value Play

You're kidding right?? Boyd is halting construction of their new casino in Vegas. Would that be because business is booming or even on par with previous years? Blatantly false reporting such as this article should be investigated by authorities.