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Time To Make A Bet On Casino Stocks? (LVS, WYNN, MPEL, MGM, BYD, FLL) - tickerspy Newswire

Friday, 25 February 2011 11:59 administrator

Tickerspy’s Casino Index

CASINO INVESTING IDEAS

Popular long ideas: LVS, MGM, WYNN
Popular short ideas: LVS, MGM, WYNN
Top dividend plays: ASCA, CHDN, WYNN
Pro favorites: LVS, WYNN, MGM

CASINO COVERAGE

Casinos offering a myriad methods by which and locations where gamblers can put some money on the line

CASINO CHART

CASINO METRICS

Few sectors are as intimately tied to the health of the consumer and the employment situation as the casino and gaming group and that explains why this sector saw so much misfortune during the financial crisis. But the group has rebounded as the economy has improved as highlighted by the performance of the Casino Stocks Index, which has gained almost 25% in the past six months.

The Index is up another 1.6% today after Moody’s Investors Service said there are signs of a recovery in Las Vegas. Moody’s noted improving visitor volumes and higher gambling revenue. Shares of Las Vegas Sands (LVS) and Wynn Resorts (WYNN) may be getting a boost from the report, as both are up 2%.

Still, the Moody’s report isn’t all good news. It notes Las Vegas faces the quagmire of excess hotel room supply and not enough visitors to fill those empty rooms. Moody’s said Las Vegas casinos “have a high mountain to climb” before they can resume growing their earnings to levels seen during previous peaks. The report noted 4,000 new rooms came online in 2009, 2,000 were added last year and 1,000 are expected to come into the fold this year.

Looking at Macau, Jefferies initiated coverage of Melco Crown Entertainment (MPEL) with a “hold” rating and $7.44 price target, implying decent upside from where the shares currently trade. Shares of Melco Crown are up 1% today.

Shares of MGM Resorts International (MGM) and Boyd Gaming (BYD) are both up 3% while Full House Resorts (FLL) is up 5%.

Investors can track the Casino Stocks Index for performance trends and a suite of other metrics at tickerspy.com.

Tags: BYD, FLL, LVS, MGM, MPEL, WYNN