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What Does The Mixed Bag Of Gaming Results Thus Far Predict For MGM?

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What Does The Mixed Bag Of Gaming Results Thus Far Predict For MGM?

Three of the four big gaming companies have so far reported their earnings. Of them, two have reported better-than-expected results, and one missed estimates. The results come in the wake of improved conditions in the Macau region.

Already Reported

  • Las Vegas Sands Corp. (NYSE: LVS) reported adjusted EPS of $0.72 on sales of $2.97 billion. Both came in above the estimates.
  • Wynn Resorts, Limited (NASDAQ: WYNN) revealed adjusted EPS of $0.75 on revenue of $1.1 billion. Both EPS and sales missed estimates.
  • Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) reported EPS of $0.13/ADS on revenue of $1.153 billion. Both topped estimates.

Still To Report

  • MGM Resorts International (NYSE: MGM) is scheduled to report its results on November 7. Analysts expect EPS of $0.11 on revenue of $2.38 billion.

At Last Check

  • Las Vegas Sands was up 5.22 percent at $59.70.
  • Melco Crown was up 1.41 percent at $17.92.
  • MGM was up 1.61 percent at $26.18.
  • Wynn Resorts Was up 0.63 percent at $88.08.

Posted-In: Earnings News Previews Topics Travel Movers Trading Ideas General Best of Benzinga

 

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