Casino Operators Face Lofty Expectations This Earnings Season
19 Julho 2011 - 9:16AM
Marketwired
It is now the heart of earnings season and investors are eagerly
awaiting results from the Resorts and Casinos Industry. No doubt
there is pressure on companies with a heavy presence in Macau to
put up strong numbers following positive growth forecasts from the
American Gaming Association. The Bedford Report examines the
outlook for companies in the Resorts and Casinos Industry and
provides stock analysis on MGM Resorts International (NYSE: MGM)
and Melco Crown Entertainment Ltd. (NASDAQ: MPEL). Access to the
full company reports can be found at:
www.bedfordreport.com/MGM
www.bedfordreport.com/MPEL
The American Gaming Association (AGA) says that it expects the
island of Macau to post 40 percent year-on-year growth in gross
gaming revenues this year. AGA reports that Macau boasts the
highest concentration of casinos anywhere in the world.
Gross gaming and gambling revenues in Macau totalled $15.515
billion in the first six months of 2011, representing a
year-on-year rise of 44.6 percent, according to the Macau Gaming
Inspection and Coordination Bureau.
The Bedford Report releases investment research on the Resorts
and Casinos Industry so investors can stay ahead of the crowd and
make the best investment decisions to maximize their returns. Take
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MGM Resorts is not reporting second quarter earnings until early
next month. Although the company has recently expanded
internationally, MGM remains the largest casino operator on the Las
Vegas Strip. Las Vegas Strip casino gambling rose the most in 15
months in May, driven by a surge in baccarat and a championship
fight with boxer Manny Pacquiao.
Melco Crown Entertainment recently announced that it will pay
$360 million for a controlling stake in a new gaming resort in
Macau -- the company's second resort in the Asian gaming hub. Melco
Crown will spend $1.7 billion developing the 2,000-room resort,
with construction starting as early as next year to meet a 2015
completion date, group chief executive Lawrence Ho said.
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