Casinos & Hotels

Gambling

Casino Revenues Tumble by 50% in Macau

The gambling control board of Macau released its report on the island’s gambling revenues for February late Monday evening, and the report was, perhaps amazingly, slightly better than analysts had ...
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beds

MGM Resorts Struggle on Low Action in China, Tax Charge

MGM Resorts International (NYSE: MGM) reported fourth-quarter and full-year 2014 results before markets opened on Tuesday. For the quarter, the casino and resort operator posted a diluted loss per share ...
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AustinTX-Marriott

JW Marriott Opens Its Largest Hotel in North America

The luxury JW Marriott Hotels & Resorts division of Marriott International Inc. (NASDAQ: MAR) announced on Friday the opening of its largest North American property, the JW Marriott Austin. With ...
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Gambling

Casino Stocks Hammered on Macau Data

On Friday, the gambling control board of Macau released its report on the island’s gambling revenues for December and all of 2014, and the news beat down casino stock prices ...
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Caesars Merger Precedes Chapter 11 Filing

Struggling casino owner Caesars Entertainment Corp. (NASDAQ: CZR) announced Monday morning that it is merging with asset acquisition company Caesars Acquisition Co. (NASDAQ: CACQ). The merger is an all-stock transaction ...
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Cruise ship

Carnival Earnings Set Sail

Carnival Corp. (NYSE: CCL) reported fourth-quarter and fiscal year 2014 results before markets opened Friday morning. The cruise line operator reported adjusted diluted earnings per share (EPS) of $0.27 on ...
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Would Casinos Really Make Good REITs?

Caesars Entertainment Corp. (NASDAQ: CZR) shares have responded favorably to news that the company presented a plan to creditors that would restructure the company into a real estate investment trust ...
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beds

What Blackstone’s Offering Will Mean for La Quinta

La Quinta Holdings Inc. (NYSE: LQ) announced Monday that it will have a secondary offering of 20 million shares from certain selling stockholders affiliated with Blackstone Group L.P. (NYSE: BX). ...
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Gambling

Melco Crown Earnings Dive as High-Rollers Forced to Stay Home

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) reported third-quarter 2014 results before markets opened Thursday. The casino and resort operator posted adjusted diluted earnings per American depositary share (ADS) of $0.24 ...
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Should Investors Gamble on Macau?

Gaming stocks were not particularly pleased Tuesday and Wednesday when Macau reported revenues under what analysts were expecting. Two analyst reports from top firms explain the drop and what the outlook ...
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ski lift

Peak Resorts Files for IPO: Ski Resorts

Peak Resorts Inc. has filed its paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). No terms given for the offering, but the filing is ...
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beds

Can One Hotel Sale Be Worth Almost $2 Billion?

Hilton Worldwide Holdings Inc. (NYSE: HLT) was the owner of the world-famous Waldorf Astoria Hotel, located in New York, until early Monday morning. Anbang Insurance Group, of China, has entered into ...
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beds

Los Angeles Hotel Workers on Track for Minimum Wage of $15.37

The Los Angeles City Council is scheduled to take a final vote next week on a proposal to raise the minimum wage for workers at the city’s large hotels to ...
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Cruise ship

Carnival Sailing the High Seas on Earnings and Guidance

Carnival Corp. (NYSE: CCL) released its earnings for its third quarter Tuesday before the markets opened. This cruise liner giant posted solid seasonal gains for this quarter and is looking ...
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Gambling

More Negative Analyst Views for Macau Casinos

The Macau region in China has been the target of many analysts’ downgrades in the casino sector recently, with Sterne Agee the most recent to have cautious views. David Bain ...
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