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The Zacks Analyst Blog Highlights: Las Vegas Sands, MGM Resorts International, Wynn Resorts and Caesars Entertainment

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For Immediate Release

Chicago, IL – October 1, 2018 – 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 Las Vegas Sands Corp. (LVS - Free Report) , MGM Resorts International (MGM - Free Report) , Wynn Resorts Ltd. (WYNN - Free Report) and Caesars Entertainment Corp. (CZR - Free Report) .

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Here are highlights from Thursday’s Analyst Blog:

Nevada Gaming Revenues Disappoint: Avoid WYNN & LVS

Investors’ apprehension about the Gaming industry increased after Nevada Gaming Control Board pointed out that gaming revenues in the state had declined for the second straight month in August. Gaming industry, which occupies a space in the bottom 35% of the Zacks Classified industries (166 out of the 255), has witnessed a sharp decline of 14.9% in the past six months compared with the S&P 500 11.9% rally.

Las Vegas & Boulder Strip Lose Most

Per Nevada Gaming Control Board, casinos won nearly $913 million from gamblers in August, down 7.7% from the prior-year period. Revenues from the Las Vegas Strip fell 12.4% due to decline in baccarat revenues. Baccarat – a lucrative but volatile card game which is often a major reason behind swinging casino fortunes – fell 8.9% in the same month. Las Vegas Strip witnessed the second largest decline following Boulder Strip’s 16.3% fall in August.

While revenues at North Las Vegas, Laughlin Area and Boulder Strip declined, the same at the Mesquite, Reno and Lake Tahoe markets witnessed a gain. Per analysts, August revenues compared unfavorably with the prior-year’s growth of 21.4%.

Notably, the U.S. gambling market has been a big revenue generator for companies like Las Vegas Sands Corp., MGM Resorts International, Wynn Resorts Ltd. and Caesars Entertainment Corp. Following the news, not much movement was noticed in the share price as the analysts were already anticipating a decline.

Steer Clear of Las Vegas Sands & Wynn Resorts

Shares of Las Vegas Sands have declined 13.1% in the past six months. For 2018 and 2019, earnings estimates witnessed sharp downward revisions of 3.8% and 2.7%, respectively, over the past 60 days. Also, increased hotel openings and promotional activities have made Las Vegas and Macao markets highly competitive. Thus, excess supply, especially in the Macao market, might hurt the company’s market share. Las Vegas Sands currently has a Zacks Rank #4 (Sell).

Wynn Resorts is another stock, which has disappointed investors with its performance. This Zacks Rank #5 (Strong Sell) company has witnessed a sharp decline of 26.8% in the past six months. Further, earnings estimate for 2018 and 2019 moved south 68 cents and 78 cents to $7.58 and $8.92 per share, respectively, over the past 60 days.

Of late, disappointing Macau performance has also been weighing on the company’s performance. Moreover, dismal gaming revenues in Nevada for the second straight month in August increased investors’ woes.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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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.

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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 for information about the performance numbers displayed in this press release.

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