Macau And Las Vegas Gaming Revenues Are Headed In Opposite Directions: What's Next?

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Yogonet

Macau casinos see worst year on record after gaming revenue drops 51% in 2022

Macau casinos have posted their worst year since 2004 as China's strict Covid Zero policies wrought havoc on the gambling hub. The Gaming Inspection and Coordination Bureau said Sunday that gross gaming revenue in December fell 56% from a year earlier to 3.48 billion patacas ($433 million), slightly below the median estimate of a 57% decline.…

Finance ・ 04 January 2023

Investor Place

Why Are Casino Stocks WYNN, LVS Up Today?

Casino stocks are rallying higher on Tuesday on hopes that China will continue relaxing its Covid-19 policies. Those restrictive policies kept a tight lid on local economies and drew the ire of its citizens. Now, investors are looking at potential upside in the country. Wynn Resorts (NASDAQ: WYNN) and Las Vegas Sands (NYSE: LVS) are up about 5% and…

Finance ・ 27 December 2022

Kalkine Media

Kalkine Media explores five US casino stocks to watch in October

The casino sector comprises firms from the gaming industry that offer leisure and other related services through their resorts and casino gaming properties. To name some, Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), MGM Resorts International (NYSE: MGM), Caesars Entertainment, Inc. (NASDAQ: CZR), and Boyd Gaming…

Finance ・ 22 September 2022

New Jersey Online Gambling

Macau Casinos Get $1.5 Billion in Loans from Wynn and LVS

Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands loaned Sands China $1 billion. The US casino…

Gaming Authorities ・ 17 July 2022

Wild Casino

$5,000 Welcome Bonus

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Markets Insider

Macau Lockdown Slashes Targets For Las Vegas Sands, MGM, Wynn

Gambling stocks traded sharply lower on Monday morning as Macau casinos shut down for a week. In response, one Wall Street analyst cut his price targets for U.S.-listed casino stocks with exposure to Macau. The Analyst: Bank of America analyst Shaun Kelley issued the following price target cuts on Monday: Las Vegas Sands Corp. (NYSE: LVS),…

Covid ・ 12 July 2022

Markets Insider

Why Are Casino Stocks WYNN, LVS Down Today?

Wynn Resorts (NASDAQ: WYNN) stock and Las Vegas Sands (NYSE: LVS) stock are both declining 8% in early morning trading. Casino stocks are slumping after new Covid-19 restrictions were imposed in the Chinese region of Macau. Although Wynn and Las Vegas Sands are based in the U.S., they both own multiple casinos in Macau. After the new coronavirus…

Finance ・ 11 July 2022

Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

Seeking Alpha

Las Vegas Sands, Casino stocks surge as Shanghai looks set to end lockdowns (NASDAQ:WYNN)

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening "in a few days" as case numbers fall. The nation's most populous city is seen as a key bellwether for the country's Zero-COVID policy, therefore holding…

Covid ・ 13 May 2022

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Seeking Alpha

Macau casino revenue plunges to 18-month low

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pre-pandemic level of April of 2019. COVID restrictions in…

Finance ・ 02 May 2022

The Nevada Independent

Indy Gaming: Aristocrat Americas president sees convergence with online and casinos

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Tom O'Brien returned to Aristocrat…

Sports ・ 06 April 2022

Seeking Alpha

Macau casino revenue slumps to 18-month low

Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month. Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The…

Finance ・ 01 April 2022

Markets Insider

4 Reasons Macau Casino Stocks Are Tanking

Macau casino stocks have taken a beating so far in 2022, but the selling pressure has intensified in recent days. On Tuesday, Bank of America analyst Shaun Kelley highlighted at least four reasons investors are dumping Macau stocks. Reasons For The Sell-Off: For the past year, Kelley has repeatedly discussed the "three C's" weighing on Macau…

Finance ・ 15 March 2022

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Seeking Alpha

Macau casino revenue for February falls short of estimates

Macau gross gaming revenue gained 6.1% in February to 7.76B patacas ($0.96B) to trail the consensus estimate for a 7.0% increase. Ongoing COVID restrictions and a sharp crackdown on two junket operators impacted traffic negatively. Macau GGR is down 8% on a year-over-year basis. Jefferies is not confident that a positive turn for Macau is…

Finance ・ 01 March 2022

Seeking Alpha

Macau casino revenue slumps in January ahead of Winter Olympics

Macau gross gaming revenue fell 20.9% in January to 6.34B patacas ($785M). Although the GGR tally topped the consensus expectation for a fall of 31%, the rate of growth was far worse than the+1.8% mark recorded in December. The crackdown on Macau junket operators and tighter border restrictions ahead of the Winter Olympics also impacted Macau…

Finance ・ 01 February 2022

Markets Insider

JPMorgan Analyst Upgrades Las Vegas Sands, Optimistic About Macau Gaming License Renewal

A day after casino stock Las Vegas Sands Corp. (NYSE: LVS) was hit with a Wall Street downgrade, the stock bounced back on Tuesday when it was upgraded by another analyst. The Analyst: JPMorgan analyst Joseph Greff upgraded Las Vegas Sands from Neutral to Overweight and raised his price target from $36 to $48. The Thesis: In the upgrade note, Greff…

Covid ・ 12 January 2022

Markets Insider

Las Vegas Pandemic Recovery Continues To Outpace Macau's, Casino Analyst Says

Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs. Both gaming destinations took big hits during the COVID-19 pandemic, but the latest gross gaming revenue numbers suggest the Vegas recovery continues to outshine struggling Macau. The Numbers: Many Americans think of Vegas as the top gambling destination, but…

Covid ・ 05 January 2022

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Investor Place

3 Top Casino Stocks That Could Make a Comeback in 2022

Over the past year, casino stocks have been devastated by the novel coronavirus pandemic. Just take a look at some of the losses a handful of major players in the sector have seen: Las Vegas Sands (NYSE: LVS) fell from a January 2020 high of $74.29 to now sitting at $35 Wynn Resorts (NASDAQ: WYNN) fell from $153.41 in January 2020 to $82.15…

Finance ・ 20 December 2021

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…

Covid ・ 01 December 2021

Mint

Covid-19 has China’s gambling hub on a long losing streak

Business remains muted in the once-bustling casinos of Macau more than a year and a half into the Covid-19 pandemic, while gambling operators wait for tourists to return en masse to the Chinese city. In August, gross gambling revenue in Macau slumped to the equivalent of $554 million, its lowest monthly total this year and a far cry from the $3…

Covid ・ 01 September 2021

WTOP

7 Best Gambling Stocks to Buy

Analysts recommend these gambling stocks in 2021. The gambling industry has been one of the hardest hit by the pandemic in 2020, and casinos were especially affected during the economic shutdown. Destinations such as Las Vegas and Macao have had a particularly difficult struggle due to travel restrictions. At the same time, the pandemic accelerated…

Top and Best ・ 27 July 2021

Reuters

Las Vegas Sands’ new boss lays down his cards

HONG KONG, July 22 (Reuters Breakingviews) - Las Vegas Sands' (LVS.N) new boss is shaking up the $38 billion company built by the late Sheldon Adelson. Chief Executive Robert Goldstein took the helm at the end of January following the death of the group's famous founder. On Wednesday, he revealed his first full quarterly results. Covid-19 may have…

Travel ・ 22 July 2021

Markets Insider

Analyst Cuts Price Targets For Wynn, Las Vegas Sands As Macau Gaming Recovery Lags

Gambling stocks have been a mixed bag for investors in 2021 given uneven trends in U.S. casino gambling, online sports betting and iGaming, as well as a sluggish recovery in the Macau, China market. On Thursday, one analyst cut price targets for two gaming leaders that are being dragged down by Macau. The Analyst: Bank of America analyst Shaun…

Incidents ・ 15 July 2021

Markets Insider

July 4 Weekend Room Rates In Las Vegas Now 50% Above Pre-Pandemic Levels

It's been a long road back for Las Vegas casinos since the pandemic hit last year, but one metric suggests next weekend could be a big weekend for Vegas. The Numbers: Bank of America analyst Shaun Kelley said Vegas Strip room rates are more than 50% above 2019 levels heading into the holiday weekend. Las Vegas flight searches are also up 2% from…

Covid ・ 28 June 2021

TipRanks

MLCO, MGM, or LVS: Which Casino Stock Could be the Best Bet in 2023?

Stocks of casino operators with exposure to Macau, an administrative region in China and a major gambling destination, have rallied recently on hopes of strong recovery following the easing of COVID-19 restrictions. Moreover, Macau granted new licenses to six casino operators in late 2022 for a period of ten years. Additionally, certain analysts…

Land-based ・ 11 January 2023