Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

The Zacks Analyst Blog Highlights: MGM Resorts International, Las Vegas Sands, Caesars Entertainment, Pinnacle Entertainment and Melco Crown Entertainment

For Immediate Release

Chicago, IL – April 12, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the MGM Resorts International (MGM), Las Vegas Sands Corp. (LVS), Caesars Entertainment Corporation (CZR), Pinnacle Entertainment, Inc. (PNK) and Melco Crown Entertainment Ltd. (MPEL).

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Monday’s Analyst Blog:

Gambling Stock Roundup: MGM Opens Arena, Sands Pays Fine

The opening of MGM Resorts International’s (MGM) 20,000-seater T-Mobile Arena was what grabbed the spotlight in the gambling sector last week. Meanwhile, another casino giant, Las Vegas Sands Corp. ( LVS), announced that the Securities and Exchange Commission (SEC) has closed its extensive inquiry into its conformity to the United States Foreign Corrupt Practices Act (FCPA).

Further, Caesars Entertainment Corporation (CZR) announced a partnership with the ocean-themed Atlantis, Paradise Island resort in The Bahamas.

In a separate development, Pinnacle Entertainment, Inc.’s (PNK) board approved the distribution of one share of PNK Entertainment’s common stock for each common share of Pinnacle held of record as on Apr 18, 2016. The distribution will put into effect the spin-off of some of Pinnacle’s operations into a publicly traded company.

Recap of the Week’s Important Stories:

1. MGM Resorts’ T-Mobile Arena was unveiled on Apr 6 on the Las Vegas Strip. The Arena is a joint venture between AEG and MGM Resorts. The arena is located in The Park, an outdoor dining and entertainment community designed to serve as a place for social gathering, which MGM Resorts unveiled earlier last week.

The Park, situated between New York-New York and Monte Carlo resorts, serves as the entry to T-Mobile Arena from Las Vegas Boulevard. The arena will host major events like UFC, boxing, hockey, basketball and bull riding to high-profile award shows and top concerts. Apart from the T-Mobile Arena, the region will have the Toshiba Plaza — a two-acre entertainment space — in front of the arena.

2. Las VegasSands announced that the SEC has concluded the investigation into its conformity to the FCPA after 5 years. Though the SEC did not find any corrupt intent or bribery by the company, it stated that certain provisions of the law that require companies to maintain proper controls were violated. Therefore, the company has agreed to pay $9 million as civil monetary penalty to settle the case.

3. Caesars Entertainment is now offering access to the facilities at Atlantis, Paradise Island resort in The Bahamas per a recent collaboration. Per the deal, these benefits have been made available to members of Caesars Entertainment’s premier loyalty program — Caesars Entertainment's Total Rewards — from Apr 7.

4. Pinnacle Entertainment’s board approved the distribution of one share of PNK Entertainment’s common share for each common stock of Pinnacle held by shareholders as of Apr 18, 2016. The distribution is expected to be made on Apr 28, subject to certain terms and conditions.

The distribution will bring into effect the spin-off of some of Pinnacle’s operations, the Belterra Park Gaming and Entertainment Center, and undeveloped land at certain locations into a separate publicly traded company. This distribution was announced in connection with the deal between Pinnacle and Gaming & Leisure Properties, announced last July.

Performance

The gambling sector witnessed moderate share price movement last week. Shares of some of the companies such as Caesars Acquisition Company and Melco Crown Entertainment Ltd. (MPEL) lost a respective of 2.93% and 3.80% over the last five trading sessions. Further, Las Vegas Sands declined 4.37%.

Over the last six months, share prices of some of the gambling stocks decreased, with Caesars Acquisition losing the most — 26.47% — followed by 15.25% drop recorded by Caesars Entertainment. However, Boyd Gaming, Wynn Resorts, Las Vegas Sands and MGM Resorts gained over the same time period.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today. Find out What is happening in the stock market today on zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
MGM RESORTS INT (MGM): Free Stock Analysis Report
 
LAS VEGAS SANDS (LVS): Free Stock Analysis Report
 
CAESARS ENTERTN (CZR): Free Stock Analysis Report
 
PINNACLE ENTRTN (PNK): Free Stock Analysis Report
 
MELCO CROWN ENT (MPEL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.