CHICAGO, May 28, 2014 /PRNewswire/ -- 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 includethe Las Vegas Sands Corp. (NYSE:LVS-Free Report), MGM Resorts International (NYSE:MGM-Free Report), Melco Crown Entertainment Ltd. (Nasdaq:MPEL-Free Report), Wynn Resorts Ltd. (Nasdaq:WYNN-Free Report) andCaesars Entertainment Corp. (Nasdaq:CZR-Free Report).
1. Leading casino operators were once again in the limelight with concerns over decelerating revenue growth in Macau. Analysts of Nomura Securities and Wells Fargolowered revenue expectations for major players in this space for the month of May. They expect performance in Macau to remain a bit sluggish in 2014 due to a potential slowdown in VIP bets owing to decelerating credit growth. (Read More: Casino Stocks Tumble on Credit Growth Concerns.)
Consequently, results of Las Vegas Sands Corp., MGM Resorts International, Melco Crown Entertainment and Wynn Resorts could be hurt as these leading casino operators earn a majority of their revenues from Macau. However, the analysts remain positive over the long-term as this gambling hot spot continues to expand.
2. Caesars Entertainment Corporation and Caesars Acquisition Company completed the sale of Harrah's New Orleans Casino. Following approval from the Louisiana Gaming Control Board, the property was sold by Caesars Entertainment Operating Company, Inc. to Caesars Growth Partners. The divestiture comes in the wake of the comprehensive financing plan announced by Caesars Entertainment. (Read More: Caesars Entertainment Soars on Funding Plan.)
3. Another subsidiary, Caesars Entertainment Operating Company, Inc. (CEOC) amended the time for its cash tender offers to purchase any and all of the outstanding 5.625% Senior Notes due 2015 and 10.00% Second-Priority Senior Secured Notes due 2015 from May 19, 2014 to Jun 3, 2014.
4. Melco Crown Resorts Corporation, a subsidiary of Melco Crown Entertainment, announced that it will develop an "Edutainment" center at City of Dreams Manila – a leisure, gaming and entertainment destination resort currently under development at Entertainment City, Manila, Philippines – in collaboration with DreamWorks Animation. Set to open later in 2014, this edutainment center would be the first in the world with a play education-based interactive entertainment concept.
5. Wynn Resorts announced in a filing the appointment of Stephen Cootey as its chief financial officer on May 16 with immediate effect. Cootey was appointed the company's treasurer in Feb 2014 and senior vice president-finance in Jan 2014. He continues to hold both positions.
Last week, Caesars Acquisition Company and Caesars Entertainment Corporation experienced major declines by losing 6.59% and 2.54%, respectively. Market reacted positively on its efforts to improve financial condition after the leverage buyout in 2008, but the rally did not last due to long-term concerns. (Read more: Caesars Entertainment Soars on Funding Plan).
However, the sluggish Macau environment could not dampen the performance of the big players like MGM Resorts and WYNN Resorts which gained on their expansion efforts.
Except Melco Crown Entertainment that declined 2.47%, all others gained over the last six months. MGM Resorts and WYNN Resorts gained 28.37% and 26.79%, respectively, over the last 6 months. Caesars Acquisition Company remained at the third position with a gain of 16.65%.
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.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
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.
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 http://www.zacks.com/performance for information about the performance numbers displayed in this press release.