Gambling Revenue for the State of Nevada Falls for the First Time in Five Months
Five Star Equities Provides Stock Research on Las Vegas Sands and MGM Resorts International
NEW YORK, NY -- (Marketwire) -- 05/17/12 -- Despite strong gambling growths in Macau, the only part of China where gambling in casinos is legal, casino stocks have fallen sharply recently. The Market Vectors Gaming ETF (BJK) has fallen over 8 percent in the last week. Recent numbers from the Nevada Gaming Control Board show gaming revenues for the state dropped in March. Five Star Equities examines the outlook for companies in the Resorts & Casinos Industry and provides equity research on Las Vegas Sands Corp. (NYSE: LVS) and MGM Resorts International (NYSE: MGM).
Access to the full company reports can be found at:
Last week the Nevada Gaming Control Board stated that gambling revenue for the state in March fell 11 percent to $854.6 million from March 2010. The decrease broke a streak of five consecutive months of rising revenues. Casinos could possibly face new competition as Nevada is set to become the first state to license online poker. Social media juggernauts Zynga and Facebook, as well as Native American Tribes are expected to compete with Nevada's top casinos for a license. California, New Jersey, Iowa, Massachusetts, Delaware are some of the other states contemplating making a similar move.
Five Star Equities releases regular market updates on the Resorts & Casinos Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Las Vegas Sands recently reported net revenue for the first quarter of 2012 was a record $2.76 billion, an increase of 30.8% compared to $2.11 billion in the first quarter of 2011. Consolidated adjusted property EBITDA in the first quarter of 2012 increased 43.0% to a record $1.07 billion, compared to $745.7 million in the year-ago quarter.
MGM Resorts International recently reported its first quarter 2012 results. The current year quarter included the results of MGM China Holdings on a consolidated basis. Consolidated net revenue increased 51% to $2.3 billion; excluding MGM China, net revenue increased 5% compared to the prior year quarter.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: www.FiveStarEquities.com/disclaimer
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here