FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top NewsMost Read Highlighted
Get AlertsLVS Hot Sheet
Rating Summary:
18 Buy, 6 Hold, 0 Sell
Rating Trend: Down
Today’s Overall Ratings:
According to checks by analysts at Sterne Agee, Macau table-only gross gaming revenue (GGR) continues to track above consensus in January. Slot GGR is seen higher by 19 percent year-over-year, topping estimates of 10 percent. If current trends continue, Macau could see GGR edge toward record territory, says Sterne Agee.
“Both the current run-rate and our estimate position January Macau GGR toward record territory from December’s MOP28.2b result, the current all-time monthly record,” said analyst David Bain.
Bain thinks China GDP in Q4 will come in at 7.8 vs. 7.4 percent in Q3. Though the connection is not obvious, Bain says GDP is 90 percent correlated with important VIP revenue. VIP accounts for 69 percent of Macau GGR.
Sterne Agee has Buy ratings on Las Vegas Sands Corp. (NYSE: LVS) and Melco Crown Entertainment Limited (Nasdaq: MPEL). The firm has Neutral ratings on MGM Resorts International (NYSE: MGM) and Wynn Resorts Ltd. (Nasdaq: WYNN).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW