For Immediate Release
Chicago, IL –June 02, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Wynn Resorts (NASDAQ: WYNN – Free Report), Las Vegas Sands (NYSE: LVS – Free Report), MGM Resorts (NYSE: MGM – Free Report) and Melco Crown Entertainment (NASDAQ: MLCO – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
Here’s Why Casino Stocks Gained on Thursday
Shares of some of the world’s largest casino companies—including Wynn Resorts (NASDAQ: WYNN – Free Report), Las Vegas Sands (NYSE: LVS – Free Report) and MGM Resorts (NYSE: MGM – Free Report)—were gaining in morning trading Thursday after the latest Macau revenue numbers pointed to a continued recovery in the gambling hotspot.
Revenues in Macau grew 24% in the month of May, beating estimates and marking the tenth-straight month of growth in the region. Gambling-specific revenue in China’s special casino hub was up 22.7%, according to regulators. Industry analysts were expecting May’s growth to fall between 15% and 20%.
Another impressive month for Macau serves to confirm that VIPs are back in the area and revenues have recovered from their five-year lows hit in 2014 when China launched an anti-graft campaign that targeted some wealthy gamblers.
Shares of Wynn Resorts, which is currently a Zacks Rank #1 (Strong Buy), gained more than 3.3% in morning trading Thursday. Wynn’s new Macau property, the Wynn Palace, recently completed its second full quarter of operations, lifting the company’s revenue figures 48% year-over-year.
Other Vegas giants with properties in Macau gained as well. Las Vegas Sands was up more than 2.8%, while MGM Resorts moved nearly 2.2% higher.
Melco Crown Entertainment (NASDAQ: MLCO – Free Report), which gets the majority of its revenue from Macau, spiked more than 4.4% early Thursday, but shares eventually slumped back down towards a gain of 2%. Melco Crown is also a Zacks Rank #1 (Strong Buy).
Macau’s recovery may see some pushback in the near future, as new regulatory initiatives are starting to be implemented in the world’s largest casino hub. Last week, Macau regulators joined forces with Chinese officials to launch a new anti-money laundering program.
There are new security measures in the area, including facial recognition at ATM machines—a move meant to enforce a withdrawal limit. Regulators are also trying to crack down on junkets, a form of middlemen that offer credit to high-rollers.
Nevertheless, Macau is also attempting to transform into an all-ages, family-friendly tourist destination, so investors should look for that to become more of a factor there soon.
Want more stock market analysis from this author? Make sure to follow @ Ryan_McQueeney on Twitter!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>
Get the full Report on WYNN - FREE
Get the full Report on LVS – FREE
Get the full Report on MGM - FREE
Get the full Report on MLCO - FREE
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook (NASDAQ:FB): https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Wynn Resorts, Limited (WYNN): Free Stock Analysis Report
Las Vegas Sands Corp. (LVS): Free Stock Analysis Report
MGM Resorts International (MGM): Free Stock Analysis Report
Melco Crown Entertainment Limited (MLCO): Free Stock Analysis Report
Original post