Macau Casino Stocks May See Short Term Drop Second Half of 2011

Written by:
Aaron Goldstein
Published on:
May/24/2011
Macau Casino Stocks 2011

In an interview with Bloomberg, Credit Suisse Group AG Hong-Kong-based analyst Gabriel Chan provided a less-than-optimistic outlook for Macau casino stocks in the short term, compared to all the overly optimistic news that relates to the world’s largest gambling Mecca and its seemingly endless revenue stream. 

When we say “less-than-optimistic”, it’s hardly a damper where Macau is concerned.

“It is a short-term correction,” Chan said, noting that the market continues to grow.

“Demand growth is outpacing supply growth,” he added during an interview with Bloomberg News.

Other analysts continue to upgrade their profit forecasts for properties like James Packer’s Crown Ltd.   His results were missed, however, the overall Macau market has been explosive so far in 2011.

Macau gaming revenues to mid-May were up 43 per cent in the March quarter.

 

China Stocks 200

 

Citigroup said it had lifted its earnings forecasts for Crown to reflect the strong trends.

Citi issued this statement:  "Crown offers cheap entry into Macau. At yesterday's close, Crown's stake in Melco Crown was valued at $1.6 billion, well ahead of the $US500m invested by Crown," the broker said.

"Crown remains cheap relative to global peers. It offers Macau exposure and also solid cashflows from its domestic casinos, which operate in stronger economic conditions than its US-listed peers."

Casino mogul Steve Wynn is among the Macau beneficiaries.  He recently opened a high class casino resort property called Galaxy. 

“I think that the Macau market growth rate for the first quarter will be exceeded in the future because of Galaxy," Wynn said.

- Aaron Goldstein, Gambling911.com

Business/Financial News

60 Minutes Looks at Bitcoin

60 Minutes Looks at Bitcoin ...And the Guy Who Spent $800 Million of it on Pizza

This Sunday May 19 at 7 pm EST on CBS (though most certainly delayed a bit with the conclusion of the PGA Championship), the long running CBS news magazine takes a look at the cryptocurrency bitcoin.

Bitcoin Eclipses $8K Mark

Bitcoin Eclipses $8K Mark

Just a day after Bitcoin shot over the $7000 mark, the cryptocurrency has now peaked at over $8000, hitting $8169 before dropping back to around $7900 Monday night.

Create a Bookie Website

Create a Bookie Website

You can create a fully customized professional bookie website in under an hour, no matter where you live, no matter how many customers and for just a mere $5 per player per week.

Price of Bitcoin Continues Charging Upwards Despite Binance Security Breach

Price of Bitcoin Continues Charging Upwards Despite Binance Security Breach

Bitcoin, now accounting for upwards of 70% of all funding for online gambling sites operating in the so-called "grey" and "restricted" markets (encompassing some three quarters of the globe), continues to see huge gains in recent days despite ongoing issues with one of the largest cryptocurrency exchanges.

Is StandardPerHead a Good Pay Per Head?

Is StandardPerHead a Good Pay Per Head?

StandardPerHead.com has existed since 2010.  The company has managed to enjoy success over the past few years.  There is little to suggest that StandardPerHead.com is not a good Pay Per Head.

Syndicate