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Las Vegas Sands CEO, Republican Megadonor Sheldon Adelson Dies At 87
Tuesday, January 12, 2021 - 8:42am | 610Read More...Sheldon Adelson died at his Las Vegas home Monday night at the age of 87. Best known for serving as CEO and chairman of the casino empire Las Vegas Sands Corp. (NYSE: LVS), Adelson was also known for his philanthropy, support of Israel and major contributions to Republican politicians. The...
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Sports Betting Could Grow 70% In 2021, Casino Recovery Coming: BofA Analyst
Sunday, January 10, 2021 - 12:43pm | 632Read More...Casino, gaming and sports betting stocks had a wild ride in 2020 with the COVID-19 pandemic and the cancellation of major sports seasons and events. Bank of America analyst Shaun Kelley shared his thoughts on the overall sector with a 2021 outlook called, “From shorts to sports.” Sports...
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Wynn Resorts Analyst: Macau Concerns Overblown, Biden Positive For Casino Stock
Monday, November 2, 2020 - 10:45am | 402Read More...The coronavirus recovery in China is a plus for a casino stock that's trading at the same levels it did in April, according to a Morgan Stanley analyst. The Wynn Resorts Analyst: Thomas Allen upgraded Wynn Resorts (NASDAQ: WYNN) from Equal-weight to Overweight and raised ...
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Stock Wars: Las Vegas Sands Vs. MGM Resorts
Wednesday, September 16, 2020 - 6:15am | 908Read More...Las Vegas Sands Corp (NYSE: LVS) and MGM Resorts International (NYSE: MGM) are two of the world’s largest casino operators. Each has taken a different route and growth strategy for its business. Here's a look at how the two stack up in a battle we call Stock Wars. About Las Vegas...
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Why Goldman Sachs Is Sidelined On Caesars Entertainment, Bearish On MGM Resorts
Monday, September 14, 2020 - 11:24am | 549Read More...Goldman Sachs shared takes on Caesars Entertainment Corporation (NASDAQ: CZR) and MGM Resorts International (NASDAQ: MGM) Monday. Here's why the firm is neutral on Caesars and turning bearish on MGM. The Casinos Analyst: Stephen Grambling initiated coverage of Caesars...
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BofA Cuts Macau Estimates After 97% Year-Over-Year Drop In Gross Gaming Revenue
Wednesday, July 1, 2020 - 3:47pm | 299Read More...Macau reopened casinos to guests, but gross gaming revenue was still down 97% year-over-year in June — and down 59.4% month-over-month — to MOP716 million ($89.67 million), according to BofA Securities. The Macau Thesis: Macau's June GGR was lower than expected, as BofA...
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Buyout Hopes Raised As Blackstone Picks Up $360M Stake In Australian Casino Operator Crown
Wednesday, April 29, 2020 - 4:27am | 380Read More...Blackstone Group Inc. (NYSE: BX), a private equity company, has purchased a 10% stake in Australia based casino operator Crown Resorts, leading to a sharp spike in Crown’s shares. What Happened Blackstone acquired the stake from Macau based Melco Resorts & Entertainment Ltd. (NASDAQ: MLCO...
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Wynn, MGM Shut Vegas Casinos Due To Coronavirus; Other States Force Pause In Gaming
Monday, March 16, 2020 - 10:10am | 586Read More...As much of the nation goes on COVID-19 lockdown, even some casino companies thik staying open is too much of a gamble. Major Las Vegas casino operators Wynn Resorts, Limited (NASDAQ: WYNN) and MGM Resorts International (NYSE: MGM) have announced their Strip casinos will be closing due to the...
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3 ETFs To Watch This Week: China, Casinos And More
Tuesday, February 18, 2020 - 10:45am | 621Read More...U.S. markets were closed Monday, but there were some headlines out on the holiday that could prove relevant for several exchange traded funds over the course of this week. To be sure, some of the ETFs likely to be in the spotlight this week don't often spend much time with that status and...
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BofA Upgrades Las Vegas Sands And Wynn, Says Coronavirus Cases 'Leveling Out'
Wednesday, February 12, 2020 - 11:27am | 488Read More...Casino stocks with exposure to Macau, China have gotten pounded from the coronavirus, and the Chinese government even shut down Macau casinos for two weeks. However, one analyst said Wednesday the worst of the coronavirus headwinds have now blown over in Macau. The Casinos Analyst Bank of America...
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Macau Shuts Casinos Amid Coronavirus Outbreak, Hong Kong Reports First Death
Tuesday, February 4, 2020 - 8:23am | 384Read More...Hong Kong reported its first coronavirus-related death Tuesday, the second recorded outside mainland China, according to Reuters reports. Macau, the Chinese territory and the world’s biggest gambling hub, has asked casino operators to close for two weeks to help curb the spread of the virus....
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BofA Downgrades Wynn Resorts On Wuhan Coronavirus Concerns
Monday, January 27, 2020 - 9:41am | 445Read More...After initially dismissing the potential impact of the Wuhan coronavirus on Macau gaming stocks, one Wall Street analyst downgraded Wynn Resorts, Limited (NASDAQ: WYNN) on Monday due to concerns over the virus’ potential impact on Macau travel. The Analyst Bank of America analyst Shaun Kelley...
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Analyst: Casino Sell-Offs 'Could Be An Overreaction' To Wuhan Coronavirus
Wednesday, January 22, 2020 - 9:47am | 557Read More...Macau casino stocks were hammered on Tuesday as investors worried fears over the deadly coronavirus in China would hurt Macau’s gaming revenue during the upcoming Chinese New Year period. Bank of America analyst Shaun Kelley said the market may be overreacting to the situation. The CDC has...
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Analyst: Xi's Macau Visit Bullish For Casino Stocks
Tuesday, December 24, 2019 - 9:40am | 582Read More...Casino stocks are finishing the year strong after investors have received good news out of Macau, China. In addition to positive progress on the trade war front, a Macau visit by China’s President Xi Jinping reportedly went very well. Economic Diversification Xi recently visited Macau to...
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Some Investors Pessimistic On Macau For Second Half Of 2019
Monday, June 17, 2019 - 11:15am | 436Read More...Given the negative impact the U.S. trade war with China has had on the broad Chinese equity market, Macau casino stocks have held up relatively well so far in 2019. Unfortunately, some gaming insiders are anticipating that luck will change in the second half of the year. What To Know Andrew Lo Kai...
