MGM Resorts International   warned of a nearly -30% year-over-year decline in its first-quarter revenue, as a result of coronavirus crisis-induced shutdown. The Casino and hotel operator  mentioned in a regulatory filing that its preliminary anticipation for first-quarter consolidated revenue was $2.3 billion – which represents a -29% drop from the year-ago quarter’s figure.It is also behind FactSet consensus estimate of $2.48 billion. Net revenue at the Las Vegas Strip resorts is expected to come in at $1.1 billion, which is -21% lower from the year ago.

Casino operator Wynn Resorts (Nasdaq: WYNN) is set to report third quarter earnings results on November 6 and the stock will be looking to break out of a downward trend with the results. The stock has been trending lower since peaking in April and if we connect the high from April and July, we get a downward sloped trend line that is currently just below $130.It would take a pretty big drop to get the stock back down to this area after the earnings report, but that could happen over the course of the coming weeks. You can attribute the decline in the stock price to the fundamentals of the company.

Vail Resorts reported fiscal 2019 fourth-quarter earnings and revenue that surpassed analysts’ expectations. The ski-resort operator reported a loss of -$2.22 a share for the quarter, narrower than the Street's estimate of a -$2.53 loss. The company’s revenue of $244 million also came in higher than analysts' $240.1 million forecast. Looking ahead, Vail predicts that its fiscal full-year 2020 earnings before interest, taxes, depreciation and amortization would range between $778 million and $818 million. CEO Rob Katz emphasized that there had been strong growth in visitation and spending compared to the prior year.Katz mentioned that Vail’s results throughout fiscal 2019 reflect the growth and stability resulting from its season pass, tailwinds from its geographic diversification, and the success of its data-driven marketing efforts.

Las Vegas Sands shares are climbing Monday, on rating upgrade by Deutsche Bank. Analysts at Deutsche Bank boosted the casino/resort company’s stock to buy from hold. They also hiked their price target to $70 from $69 – which represents a potential upside of 25% from the stock's closing price on Friday. Analyst Carlo Santarelli emphasized that Las Vegas Sands currently has a favorable entry point, owing to the largely bearish sentiment towards the Macau gaming market amidst geopolitical headwinds According to the analyst, Las Vegas Sands has to  a large extent priced in the Macau-induced headwinds. Santarelli  belives that the Macau gaming authority will soon release gross gaming receipts that would reveal a positive trend, which turn should propel a turnaround in investor sentiment on Macau.    

Even with the group as a whole underperforming, Penn National Gaming (Nasdaq: PENN) has performed worse than its peers.The stock is down over 20% in the past six months while the S&P is up just over 5% during the same time period. Looking at the daily chart we see that there is a trend channel that has formed over the last six months and it defines the cyclical moves within the overall downward trend.

Metro-Goldwyn-Mayer has reached a new low, by suing the victims of the Las Vegas shooting.In defense of MGM, over two-thousand people are threating to sue the media conglomerate, so the company needed to take some action to defend themselves. 

Unfortunately for MGM shareholders, the stock wasn’t able to maintain that momentum and has been trending lower since the February high. Looking at the daily chart we see that by connecting the February high with the April high we get a downward sloped trend line.After rallying for the last few weeks, the stock is now hitting that trend line and it is overbought based on the stochastic readings and the 10-day RSI. The Tickeron Trend Prediction Engine generated a bearish signal for MGM on June 14.

FanDuel (DUEL) reports that it took in $13.3M in online sports bets in New Jersey during March, while DraftKings (DRAFT) took in $7.3M for the month. Read More...

Caesars Entertainment is reportedly planning to name a new CEO, according to the Wall Street Journal citing people familiar with the matter. The casino operator is expected to name Anthony Rodio as its new chief, who’s currently the CEO of Affinity Gaming.According to the Journal, some of the people said that Eldorado Resorts and Golden Nugget have shown interest in bidding for Caesars.

Vail Resorts beat second quarter earnings and revenue estimates, causing its shares to jump more than +8% Friday. The mountain resort company reported net income of $5.02 per share, which edged past Wall Street analysts’ estimates of $4.83 per share.Its revenue of $850 million was higher than analysts’ expectations of $842 million for the quarter. The company experienced a +27% year-over-year surge in skier visitation, while lodging revenue increased +16.1%.  Vail said that it would be boosting its quarterly dividend by +20% to $1.76 per share, payable April 11, to shareholders of record on March 27.  However, the company lowered its projection for the full-year EBITDA to a range of $690 million to $710 million, compared to its previous guidance range of $718 million to $750 million.   It had weaker-than-expected destination guest visitation during the pre-holiday period.

Wynn Resorts shares declined more than 12 percent during after-hours trading as the company missed estimates in its quarterly earnings. READ MORE...

Casino operator Las Vegas Sands (NYSE: LVS) has been trending lower since falling below its 50-day moving average back in June.A clear trend channel has formed and seems to be guiding the stock lower. What is interesting is that the 50-day hasn’t been touched as it is just slightly above the upper rail of the channel, but running parallel to the rail. The stock saw the so-called death cross of the 50-day dropping below its 200-day moving average in August and then fell approximately 25% from that point to the low in late October. The fundamental picture for LVS is mixed.

The American Gaming Association released an annual report on the commercial casino industry State of the States: The AGA Survey of the Commercial Casino Industry. The annual report gives an analysis of the commercial casino industry and the economic influence it has in the 24 U.S. states with commercial gaming operations. According to the report, gross gaming revenue in the United States increased 3.4% to $40.28B last year. The state with the largest growth in revenue in 2017 was Maryland (+34.2% Y/Y) followed by New York (+16%), Oklahoma (+10%), Kansas (+7%) and Massachusetts (+6.3%).In Nevada commercial casino revenue also rose 2.8%. The most significant drop in revenue in 2017 reported in West Virginia (–4.6%) due to competition from neighboring states. According to AGA report: "Commercial casino operators were not the only beneficiaries of industry growth.

Caesars Entertainment will introduce sports betting to its several casinos (they used to have it only in Nevada) – but now it will expand to its locations in Atlantic City and on the Gulf Coast. MGM Resort International is following a similar strategy and expending the online gambling platforms and sports betting.The online offering will include sports betting, casino gaming, and poker. Mobile applications for betting will be developed in cooperation with Boyd Gaming. Of course, no betting while driving.