Is This the Right Time to Buy LV Casino Stock?

For months, some of the biggest casino companies in Las Vegas have seen their share prices decline due to the coronavirus in China. All casinos have been forced to close down, costing many companies millions of dollars. Things seem to be improving now, and many are wondering if this is the right time to buy LV casino stock.Stock Prices Picture

It’s an interesting time for the global casino market. Things are going well in Las Vegas, yet Macau continues to lose revenue. Today, we’re going to talk about why many feel this is the perfect time to purchase stock in several Las Vegas casino companies.

Let’s get into it!

Macau Proves to be a Troublesome Casino Market

Most of the world’s top casino operators currently have operations in Macau. For many years, this small Chinese territory was the most profitable gambling market in the world. It drew in millions of gamblers from around the world every single year and was home to a number of multi-billion dollar gambling venues.

Last year, things began to slow down here. The US-Chinese trade war had a serious impact on this territory. As China’s economy slowed down, fewer tourists from mainland China began traveling and gambling in Macau. This resulted in fewer junkets operating here and as time went on, revenue in Macau began to plummet.

This didn’t deter Las Vegas casino companies, though. Many of them continued to invest in properties here. As revenue continued to drop, however, LV casino stock prices dropped.

In December, the Wuhan coronavirus began to spread throughout China. By February, this virus infected tens of thousands of people around the country. Not long ago, officials in Macau chose to close down all casinos as a way to deter tourism. This is costing several Las Vegas casino operators millions of dollars every day.

Fortunately, there seems to be a light at the end of the tunnel. The virus infection rate seems to be slowing down. This could be huge for casino operations in Macau.

Bank of America Recommends Buying LV Casino Stock

Macau has always been a hot casino market. Some of the world’s biggest high-rollers gamble here and many casino companies earn the majority of revenue in this small territory. As the coronavirus begins to be eradicated, this market will start to improve.

This week, Bank of America began recommending to buy LV casino stock. The major US banking company believes that as the virus begins to level out, revenue in Macau will start to surge. As a result, Las Vegas casino companies with property here will see their share prices increase.

Shaun Kelley, a research analyst at Bank of America, commented on the potential share price increase to CNBC this week.

“2nd derivative [is] leveling out,”, he said. “The sequential and daily growth rates have been stable/declining for approximately a week. “Stock and investor reaction has been surprisingly muted relative to prior Macau corrections which we think owes to the passing nature of the threat and increasing China/global market liquidity.” 

This certainly makes sense. Due to Macau’s new regulations, several major Las Vegas casino companies have seen their share prices drop dramatically.

There might be a real opportunity to make some money. If China’s economy begins to improve again and Macau stops its hardcore casino regulations, revenue will start to surge.

Las Vegas Casino Market Continues to Improve

Las Vegas’ gambling revenue is always fluctuating. For more than a year, however, things have been steadily improving in this city. Casinos are continuing to rack in money and are showing no signs of slowing down.

Even sports betting revenue is increasing here. This is a surprise for some. More states around the country are beginning to legalize this form of gambling.

In fact, more than 20 states have officially legalized sports betting. It seemed that this would decrease the sports gambling revenue in Las Vegas. This is not the case.

Everything is running smoothly here. Casinos here took in an average of $1 billion per month last year. Sports betting revenue increased by 9.5% overall.

Amazingly, LV casino stock has been dropping lately due to the trouble in Macau. Hopefully, this will begin to improve.

Stay tuned for more Las Vegas casino news over the next few months!

Wynn’s New Convention Center is Finally Open

In 2018, Wynn Resorts has discussed plans to open a brand new convention center and meeting space. This week, Wynn’s new convention center officially opened to the public. Today, we’re going to talk about what this new center has to offer.Wynn Las Vegas Casino Logo

Wynn Resorts is working on several new projects right now. 2019 wasn’t great for the company and as of now, things don’t seem to be improving. This is the perfect time to check out where the company is headed this year.

Let’s get into it!

2019 Wasn’t Great for Wynn Resorts

For decades, Wynn Resorts has been considered one of the best casino companies in the world. It was founded back in 2002 by Steve Wynn, who served as CEO until very recently. Things starting going downhill in early 2018, when allegations of sexual abuse against Steve Wynn began to surface.

Several women came forward with stories of misconduct by the powerful CEO. At first, he vehemently denied the allegations. Eventually, he stepped down and sold all of his shares from the company. He then tried to stay out of the public spotlight.

These allegations hurt Wynn Resorts’ reputation. The company eventually filed a lawsuit against Mr. Wynn and ultimately received $20 million from the former CEO. Wynn Resorts eventually decided to name Matt Maddox as the company’s new leader.

Maddox had served as president of the company since 2013. He was promoted to CEO in a position that was expected to last until February of 2021. In December, the company decided to extend his role until 2022. He seems to be doing a good job.

Wynn Resorts has also struggled with some of its overseas properties. Macau, in particular, has been a tough market for the Las Vegas-based casino company. This doesn’t mean things are slowing down, though.

As we mentioned earlier, this company just finally opened its new convention space. Here’s what it has to offer.

Wynn’s New Convention Center Has Bookings Through 2028

Las Vegas is one of the country’s top convention destinations. There are a huge number of major conventions here that draw in thousands of visitors every single month. Since 2019, construction has been underway on Wynn’s new convention center.

This massive property has now officially opened to the public. It’s one of the most impressive convention centers in the city, with two stories and 430,000 square feet of space. It’s actually an extension of the current Wynn Meeting and Convention Space and features an 83,000 square-foot ballroom.

According to company officials, this is already a major success. This new convention center already has bookings lined up until 2028. The new setting of this venue, located directly next to the Wynn Golf Club, is also exciting for many convention-goers.

Chris Flatt, executive vice president of hotel sales and marketing, commented on the opening of this venue to the media this week.

“We were scheduled to open in March and we have a very high percentage of repeat business here and had several customers of ours that literally wanted to be the first groups in the hotels,” he said. “We actually opened about three weeks earlier than anticipated.”

Wynn’s new convention center is open to the public and is already hugely successful. Several other major Las Vegas companies are scheduled to open new convention space, as well. Unfortunately, Wynn’s operations in Macau don’t seem to be improving.

Macau’s Casino Closures Costing Wynn Resorts Millions Every Day

Wynn Resorts operates a huge number of major casino-resorts all across the country. It also runs several major resorts in Macau. This city struggled to attract gamblers in 2019 and things don’t seem to be improving thus far into 2020.

Last year, Macau was hurting due to the US-China trade war and protests in Hong Kong. Now, the Wuhan coronavirus is taking a toll on the city. As a way to prevent infection, leaders in Macau decided to close down all of the territory’s casinos.

This is taking a serious toll on gambling operators here. Wynn Resorts claims that it’s losing between $2.4-$2.6 million every day due to these closures. CEO Matt Maddox isn’t concerned, claiming the company can withstand the losses.

It’s unclear how long this will last for. Death tolls due to the coronavirus are increasing, yet infection rates seem to be dropping. Hope is that officials in Macau manage to stop the spread of this deadly virus before it hits even more countries.

Things aren’t all bad. Wynn’s new convention center is up and running and will likely earn the company serious revenue. It wouldn’t be a surprise to see Macau reclaim its spot as the world’s most profitable gambling hub before long, too.

Stay tuned for more Las Vegas casino news over the next few months!

Las Vegas Casino Companies Are Affected by Coronavirus

The Wuhan Coronavirus first appeared in early December and has now spread to at least 20,000 individuals. It’s one of the world’s scariest virus outbreaks in recent memory and is showing no signs of slowing down. New reports indicate several Las Vegas casino companies are losing revenue due to the impact of this coronavirus.Casinos In Macau

For now, the vast majority of infected individuals are in China. Unfortunately, this is taking a serious toll on Macau, one of the world’s biggest gambling hubs. Today, we’re going to look at how this virus has spread so quickly, and discuss the impact that it’s having on the world’s gambling industry.

Wuhan Coronavirus Continues to Spread Around the World

Over the past few decades, China has been the center of several new virus outbreaks. In the early 2000s, this country experienced an outbreak of severe acute respiratory syndrome, or SARS. This was a coronavirus that caused chronic viral respiratory disease. It spread quickly and ultimately killed 774 individuals.

In December of 2019, the Chinese city of Wuhan began experiencing an outbreak of a new type of Coronavirus called 2019-nCoV. Researchers have traced the origins of the virus to a seafood market that allowed the sale of wild animals. Over the past two months, this virus has spread at an incredible rate with more than 20,000 now confirmed to be infected.

Nearly all of the confirmed cases have been in China. All but one death has also been confined to this country. Officials are doing everything they can to contain the virus and prevent it from spreading to other nearby countries.

One city that’s being heavily affected is Macau. This is one of the most-visited cities by Chinese tourists. Government officials here have looked at ways to ensure the outbreak does not reach Macau’s population.

Tourism in this city has dropped dramatically. Obviously, many of the casino operators here are losing revenue. This includes some of the biggest Las Vegas casino companies.

Las Vegas Casino Companies Struggle With New Macau Regulations

Macau is one of the world’s biggest gambling hubs. There are a huge number of major casinos here, some of which are operated by Las Vegas-based companies. Las Vegas Sands, MGM Resorts International, and Wynn Resorts all own property in this Chinese territory.

Unfortunately, most of these companies have been losing money here. Not all of the blame can be placed on the coronavirus, though. The US-Chinese trade war had led to a major decline in tourism here. The Wuhan Coronavirus is just making things worse.

2019-nCoV is scary for several reasons. Officials are struggling to contain the virus and its now infected individuals in every single Chinese province. Leaders in Macau have recently decided to shut down casinos as a way to prevent tourism in the city.

Some of the biggest Las Vegas casino companies are taking a major financial hit from this decision. The three companies we listed above state they will comply with the new regulations. Pansy Ho, one of the most powerful individuals in Macau, commented on the casino closure to the media this week.

“It was a hard decision, but we must make it for the health of Macao residents,” she said to the media. “Macao can still withstand economic losses.”

It’s unclear at this point how much revenue these companies have lost in Macau. Unless the situation improves and the government begins to cut down on the infection rate, these losses will continue.

Gambling Revenue in Las Vegas is Likely to Increase

The gambling industry in Macau is hurting right now. Over in Las Vegas, however, things are running smoothly. This city’s gambling revenue increased significantly in 2019 and most analysts believe the trend will continue this year.

Some were surprised to see the revenue increase in 2019. A huge number of states have recently legalized sports betting and expanded their casino gambling options. There was a thought that this would take away from Las Vegas’ tourism. For now, this doesn’t appear to be the case.

In fact, things are likely to get even better this year. Several major casino-resorts are set to open in Las Vegas in 2020. This includes Resorts World Las Vegas, the most expensive hotel-casino ever constructed in the city.

Downtown Las Vegas is improving rapidly, as well. Derek and Greg Stevens are opening Circa Las Vegas before the end of the year. This new casino-resort will be one of the most impressive venues in the Downtown area.

Las Vegas casino companies continue to bleed money in Macau. Fortunately, things are going well in the US. Make sure to stay tuned for more updates on this situation over the next few months!

Las Vegas Sands Stock Prices Are Fluctuating Right Now

Today, Las Vegas Sands is one of the biggest and most profitable casino companies in the world. It operates major casino-resorts around the world and continues to expand into new territories. In recent weeks, Las Vegas Sands stock prices have begun to fluctuate.Las Vegas Sands Logo

There are several reasons why this is. Today, we’re going to discuss the company’s current share prices and look at how they might change over the next few months.

Let’s get into it!

2019 Was an Interesting Year for Las Vegas Sands

Few major casino operators are as well-known as Las Vegas Sands. The company was founded back in 1988 by Sheldon Adelson, who has remained CEO ever since. Over the past few decades, this company built massive casino-resorts all over the US and abroad.

2019 proved to be a very interesting year for LVS. Gambling revenue rose and fell. In the year’s second quarter, revenue appeared to be soaring. In the third quarter, revenue earnings came in slightly lower than expected.

LVS ended the year strong financially, yet the company was forced to deal with several nagging issues. This includes a lawsuit against the aforementioned Sheldon Adelson. One of Las Vegas’ local newspapers filed a lawsuit against the CEO for attempting to monopolize the city’s news industry.

Las Vegas Sands continued to invest heavily in its overseas companies last year. This is especially true in Macau. More than $2 billion is being spent on upgrades to the properties here including the Venetian Macau, and Sands Macau.

Some felt this was a risky move. Macau’s gambling revenue has been declining due to the drop in China’s economy. Recently, Las Vegas Sands stock prices have been fluctuating and analysts are beginning to pinpoint why.

Las Vegas Sands Stock Prices Dropped This Week

Officials within LVS have been celebrating for the past few months. Since November, the company’s share prices have risen by an incredible 15%. Most of this is due to the Chinese government’s plan to diversify Macau into a major financial hub.

That’s not the only major accomplishment for the Las Vegas-based casino operator. Just last week, LVS earned a spot on the “world’s most admired companies” list for its efforts to fight against climate change. It seemed like everything was going right thus far into 2020.

This week, however, Las Vegas Sands stock prices have taken a slight hit. This is largely due to fears of the coronavirus affecting the company’s operations in Macau.

For weeks, China has been working to contain a deadly new virus known as 2019-nCoV. It originated in Wuhan and quickly spread throughout the country. There have even been recorded cases in Thailand, Japan, and the United States.

The concerns over this virus have taken a toll on LVS’ share prices. On Tuesday, the company’s stock fell 4.3% to $70.85.

This isn’t the only company that’s taken a hit due to the coronavirus.

Wynn Resorts also experienced a drop in its stock prices. Until the outbreak is contained, this trend is likely to continue.

Las Vegas Sands Continues to Push for Tokyo Casino

Las Vegas Sands, like almost all other major US casino companies, has been pushing hard to break into the newly-emerging Japanese casino market. Over the next few years, three companies will be handed out a license to operate casino-resorts in this country.

Based on several reports, Japan will grow to have one of the largest casino markets in the world. Each of these casino-resorts here will cost billions of dollars to construct.

For a time, officials within Las Vegas Sands announced they were interested in opening one of these venues in the city of Osaka. That is no longer the case. The company now claims that it is focused on opening an integrated resort in Tokyo. Many analysts believe that LVS will be one of the three companies the Japanese government chooses to grant a gaming license to.

Las Vegas Sands stock prices have temporarily dropped. Hopefully, this won’t last long. We’ll need to wait and see exactly how the virus in China affects Macau’s economy.

Stay tuned for more Las Vegas Sands news over the next few months!

CEO Matt Maddox Will Stay With Wynn Resorts Through 2022

Back in 2018, Steve Wynn officially stepped down as CEO of Wynn Resorts. Since that time, the company has been dealing with accusations of Wynn’s sexual misconduct. CEO Matt Maddox has been doing a great job running the company and will continue his leadership role for the next couple of years.

Matt Maddox

Company officials are happy with the direction that Maddox is taking Wynn Resorts. He’s been able to facilitate some major deals as CEO. Today, we’re going to look at what Maddox has done for the company. We’ll also talk about some of Wynn’s plans for the future.

Let’s get into it!

Steve Wynn is Still Having an Impact on Wynn Resorts

For the past few decades, Steve Wynn was thought to be one of the most powerful men in the gambling industry. He served as CEO of Mirage Resorts from 1973 to 2000. In 2002, he officially founded Wynn Resorts and took over as CEO of that company, which he ran from 2002 to 2018.

Between that time, Wynn opened up several major casino-resorts all over the world. He expanded around Las Vegas. In 2010 and 2011, Wynn Resorts opened two major properties in Macau, as well. They are said to be some of the best casino-resorts in the territory.

Unfortunately, Steve Wynn is now involved in several sexual misconduct cases. Over the past few months, several women have come out with claims that Mr. Wynn abused his power. It was a PR disaster for Wynn Resorts, which immediately asked Wynn to step down from his position.

In February of 2018, Wynn officially left Wynn Resorts. A few months later, he sold his stock in the company. Since this time, he’s stayed out of the public spotlight.

His actions have taken a toll on Wynn Resorts. The company has been involved in various lawsuits over the past few months. Not long ago, the company won a lawsuit with Steve Wynn and he’s now ordered to pay the company $20 million.

CEO Matt Maddox now runs Wynn Resorts. This week, his leadership role was extended.

Wynn Resorts Extends Timeline for CEO Matt Maddox

Prior to Steve Wynn’s departure, there was a debate over who would take over as CEO. Eventually, the company chose Matt Maddox to take over. He’d served as president of the company since 2013 and was the most logical choice.

Most agree that CEO Matt Maddox is one of the best additions to the company in years. Since stepping into the new position, he oversaw the opening of the Encore Boston Harbor, helped to end a six-year lawsuit with Universal Entertainment, and made significant changes to the company’s board.

Initially, Maddox was expected to remain CEO until February of 2021. This week, the company decided to extend this timeline until December of 2022.

Harry Curtis, a gaming analyst with Instinet, spoke with the Las Vegas Review-Journal about why CEO Matt Maddox will retain his position for a little longer.

“If you look at what he had done to steady the ship, they have been the right decisions,” he said. “He has been a very good protector of the value embedded in the company.”

Maddox has to be happy with the news. Hopefully, he can continue to help improve the company over the next few years.

Wynn Resorts’ Stock Prices Surge This Week

Macau hasn’t been a profitable market for most US casino operators this year. Several factors have led to major revenue losses in this territory. A rise in competition around Asia and the China-US trade war has taken a toll on the number of gamblers here.

Today, many US casino operators run casino-resorts in Macau. For almost all of 2019, these companies have lost money in this territory.

This week, the People’s Bank of China, which is based in Mainland China, raised the remittance limit on individuals’ transfer of money from Macau to the Mainland. Essentially, this means that visitors from the Mainland are able to gamble more in the city.

This immediately had an impact on several companies’ stock prices. Wynn Resorts’ stock rose by 1% after the news broke. Las Vegas Sands saw an increase of 2%.

It’s fantastic news for the casino companies with operations in Macau. Perhaps CEO Matt Maddox will begin investing even more money into this territory.

Stay tuned for more US casino news over the next few months!

Pansy Ho Continues to Sell Stock In MGM Resorts International

Very few individuals in the gambling industry hold as much power as Pansy Ho. The daughter of Stanley Ho now controls several major gambling companies and is worth an estimated $5.4 billion. This week, the casino mogul continued to sell stock in MGM Resorts International. Pansy Ho Picture

Ho has been selling stock in the company for weeks now. Today, we’re going to explain exactly why this is.

It’s All About Timing For Pansy Ho

As we’ve already mentioned, Pansy Ho remains one of the most powerful individuals in the gaming industry. She’s the managing director of several major companies including Shun Tak Holdings and Sociedade de Turismo e Diversoes de Macau. Ho holds stock in several major US casino companies and is one of the faces of Macau’s gambling industry.

Over the past few weeks, Ho has begun selling stock in MGM Resorts International. It began in late November when she sold 4.5 million shares for an astounding $140.2 million. This reduced her hold in the company from 3.13% to 2.26%.

It appears Ho wants even more money from the major US casino operator. This week, she sold an additional $78.9 million worth of stock in the company. Most analysts credit good timing for these recent sales.

At the moment, MGM Resorts International’s stock prices are surging. The company has been involved in several major Las Vegas hotel sales and is experiencing record revenue earnings.

Pansy Ho remains a majority shareholder in the company. With a few hundred million now in her bank account, it’s likely she’ll reinvest the money back into the gaming market.

MGM Resorts International May Continue Selling Property

MGM Resorts International remains one of the most powerful gambling companies in the world. It owns several of the biggest and most lucrative properties in Las Vegas. As we’ve already mentioned, the company has recently begun selling some of its venues on the Las Vegas Strip.

Both Circus Circus and The Bellagio have been sold. According to several reports, more of these property sales are likely to take place in the future.

Last year, Japan officially legalized casino gambling. The government has agreed to allow three casino-resorts to open in the country. Just about every major casino operator around the world is now attempting to break into this market.

This includes MGM Resorts International. It’s been working extremely hard to develop a presence in Japan. This includes sponsoring an MLB opening game that took place in Tokyo. MGM claims that it’s interested in opening a casino-resort in Osaka or Japan.

In order to pay for a casino-resort in this country, MGM is choosing to sell some of its biggest properties. Interestingly, MGM continues to control The Bellagio. It’s leasing the hotel-casino back from the Blackstone Group for $245 million per year.

Despite Backlash, Pansy Ho Continues to Support Beijing

For months, Hong Kong has been the site of massive protests. Hundreds of thousands of individuals here have been pushing against the government for its new laws towards Mainland China. There is now a serious dispute with those backing Hong Kong’s sovereignty and those described as “pro-Beijing.”

Pansy Ho is one of Hong Kong’s richest individuals. With that in mind, it’s not a huge surprise to see her support Beijing in the ongoing dispute. She recently spoke about the situation during a UN Human Rights Council.

“By speaking out here at the council, I am aggressively chastised by these self-proclaimed freedom fighters who hide behind face masks and anonymous accounts online,” Ho said. “Vicious threats and provocative remarks have been used to incite harassment and defame me, my family and my businesses in an attempt to silence me in presenting a different perspective of the truth.” 

Ho also claims that many of the younger individuals in Hong Kong are being “indoctrinated” with “police hatred.”

Pansy Ho has several major connections with Mainland China. Historically speaking, it doesn’t turn out well for powerful individuals in her position to take any kind of negative stance against the Mainland government.

We’ll need to wait and see whether or not Ho continues to sell stock in MGM Resorts International. Make sure to stay tuned for more updates over the next few weeks!