Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

Global Gaming and Casinos Industry Specialist

Equity Bottom-Up

<ul>
<li>Would be operators growing restless with uncertainties about regulations and policies to come and public opposition.</li>
<li>Pachinko culture driving public opposition. Government has not educated masses to understand differences between IRs and Pachinko parlors as leisure activities.</li>
</ul>


Would be operators growing restless with uncertainties about regulations and policies to come and public opposition.
Pachinko culture driving public opposition. Government has not educated masses to understand differences between IRs and Pachinko parlors as leisure activities.


Japan Casinos: Muddled, Murky Government Trying the Patience of Would-Be Bidders

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this report.  In addition, we highlight attractive Groups and stocks within Discretionary and Technology: Casinos &amp; Gaming, Large-Cap, Semiconductors, Mid-Cap, Semiconductors, Small-Cap, Software, Design Solutions.

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this report.  In addition, we highlight attractive Groups and stocks within Discretionary and Technology: Casinos &amp; Gaming, Large-Cap, Semiconductors, Mid-Cap, Semiconductors, Small-Cap, Software, Design Solutions.

U.S. Equity Strategy: Growth Surging Relative to Value

Galaxy Entertainment Group / Equity Bottom-Up

<ul>
<li>By wide agreement among our Japan colleagues, one of these two contenders is the likeliest winner of the Osaka IR license.</li>
<li>Galaxy brings financial strength, MGM existing global branding and a Japanese based partner in Orix, already set.</li>
<li>Being long on both now makes good investment sense rather than just buying either one.</li>
</ul>


By wide agreement among our Japan colleagues, one of these two contenders is the likeliest winner of the Osaka IR license.
Galaxy brings financial strength, MGM existing global branding and a Japanese based partner in Orix, already set.
Being long on both now makes good investment sense rather than just buying either one.


Japan Casinos: Moment of Truth Nears, Time to Bet on These Two Osaka Favorites

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same time, small-caps continue to be one area of the market that gives us some reason for pause as neither the Russell 2000 or S&amp;P Small Cap 600 indexes have been able to make bullish price or RS inflections. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Financials: Large- and Small-Cap Casinos &amp; Gaming , Banks, Super-Regional, and Asset Management &amp; Custody Banks, Large-Cap.

U.S. Equity Strategy: Waiting on Small-Caps

While the S&amp;P 500 has hit marginal new highs, price action of the S&amp;P 500 and the price and RS of several Sectors/subsectors is similar to the periods leading up to the October 2018 and May 2019 breakdowns. We draw several similarities in today’s report, and we continue to believe upside is likely to be muted from here barring additional positive developments.

While the S&amp;P 500 has hit marginal new highs, price action of the S&amp;P 500 and the price and RS of several Sectors/subsectors is similar to the periods leading up to the October 2018 and May 2019 breakdowns. We draw several similarities in today’s report, and we continue to believe upside is likely to be muted from here barring additional positive developments.

U.S. Equities: Mixed Signals Punctuate Muted Outlook

United States

MGM Resorts International operates gaming, hospitality and entertainment resorts.  The Company owns properties in Nevada, Mississippi and Michigan in the United States; and owns interests in properties in Nevada and Illinois in the United States, and Macau. MGM Resorts also offers hospitality management services for casino and non-casino properties around the world.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

MGM Resorts International (MGM US)

Japan Casinos: Muddled, Murky Government Trying the Patience of Would-Be Bidders

Would be operators growing restless with uncertainties about regulations and policies to come and public opposition. Pachinko culture driving...

Howard J Klein

U.S. Equity Strategy: Growth Surging Relative to Value

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this...

Vermilion Research

Japan Casinos: Moment of Truth Nears, Time to Bet on These Two Osaka Favorites

By wide agreement among our Japan colleagues, one of these two contenders is the likeliest winner of the Osaka IR license. Galaxy brings financial...

Howard J Klein

U.S. Equity Strategy: Waiting on Small-Caps

This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same...

Vermilion Research

U.S. Equities: Mixed Signals Punctuate Muted Outlook

While the S&P 500 has hit marginal new highs, price action of the S&P 500 and the price and RS of several Sectors/subsectors is similar to...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)