gaming industry

JPMorgan’s Joseph Greff believes the prior estimates for Las Vegas Sands Corp. (NYSE: LVS)'s Macau same-store revenue for 2Q16 could prove to be too aggressive. Greff maintains a Neutral rating on the company, while lowering the price target from $52 to $47. Estimates Lowered The analyst...

According to ABC News, the New York Lottery has launched a new instant game called Gold Castle, which is available on mobile devices. The game is sold for $5 at lottery retailers, but can now be played as a mobile game, which is available for free download. Related Link: Now You Can Play The...

According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of June came in at 15.8 billion patacas, about 8.5 percent lower than June 2015’s number. The 8.5 percent decline actually beat analysts’ low consensus expectations of a 9.5...

Golden Entertainment Inc (NASDAQ: GDEN) revealed Friday that the final per share amount of the earlier disclosed special cash dividend would be $1.71 per eligible share. Golden Entertainment indicated on June 20 that its board had declared a special cash dividend of an aggregate of about $23.5...

Wynn Resorts, Limited (NASDAQ: WYNN) has once again delayed the opening of its Macau Resort — Wynn Palace — and now sets an opening date of August 22, 2016, according to a press release. Last year, Wynn said it would open its new resort, which is situated on the Cotai area of Macau, in...

Battered Atlantic City casino operators could have another major headache on the way in less than two weeks. Casino workers at four of the city’s remaining casino resorts have set July 1 as a negotiation deadline or they will go on strike. The casino workers’ union has said that workers...

Eccentric and flamboyant Floridian entrepreneur Glenn Straub is taking one last crack at pointing Atlantic City in the right direction. This week, the $2.4 billion Revel casino resort re-opens in Atlantic City. Maybe. The Revel originally opened in 2012 and was 90 percent financed by Morgan Stanley...

In the past six weeks, Citi analyst Anil Daswani has met with more than 100 institutional investors from around the world to discuss the outlook for Macau gaming stocks. According to Daswani, investors are still cautious on Macau, but many admit that the long-term free cash flow (FCF) story is...

With revenue in the world's largest gaming destination — Macau, China — still depressed, casino investors are looking to the state of Nevada for some much-needed revenue growth this year. The state's Gaming Control Board has released its report on gaming revenue for the month of...

Now that Q1 earnings season for U.S. gaming stocks has come and gone, Goldman Sachs analyst Steven Kent recently revisited the firm’s outlook for Las Vegas Sands Corp. (NYSE: LVS), Penn National Gaming, Inc (NASDAQ: PENN) and Scientific Games Corp (NASDAQ: SGMS). Penn's Solid Quarter Keeps...

Penn National Gaming, Inc (NASDAQ: PENN) reported robust 1Q results, beating expectations. Goldman Sachs’ Steven Kent maintains a Buy rating on the company, with a price target of $18. PENN Continues To Execute The company attributed half the 1Q beat to the leap year and the weather, with the...

Madison Square Garden Co (NYSE: MSG) announced in a regulatory filing on Wednesday it will team up with Las Vegas Sands Corp. (NYSE: LVS) to build a new concert venue in Las Vegas. The two companies will create a new 16,000-seat theater on land Sands already owns, which will be leased to Madison...

Shaun C. Kelley of Bank of America has initiated coverage on Red Rock Resorts Inc (NASDAQ: RRR) at Buy, and set a price target of $24. Red Rock is a leading casino operator, with 19 casino properties under its belt. It is also the manager of two Native American casinos. The company is a "near pure...

Citi has initiated coverage of MGM Growth Properties LLC (NYSE: MGP) with a Neutral rating and $22.50 price target, citing attractive and sustainable dividend yield. While the reasons cited sound more positive than a Neutral rating, the analysts justified it by stating that most of the positives...

The Macau Gaming Inspection Coordination Bureau has placed yet another restriction on the Macau gaming market by banning “proxy betting” starting this week. The recent corruption crackdown in Macau has spooked many VIP high-roller gamblers away from the casinos, but others have been...