Melco International Development: Liquidity Vs. Rising Debt
We initiate our coverage on Melco International Development Ltd (200 HK) (Melco) and its consolidated subsidiaries with an UNDERWEIGHT...
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Las Vegas Sands: We're Raising Guidance from $80 to $95 Post Q3. Its a Bet on a Fortress Company
LVS stock is undervalued compared with best peers even after a nice 4Q167 earnings beat. The sale of its Bethlehem, PA property liberates US$1/3b...
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Universal Entertainment (6425) - Casino in Hokkaido?
Universal Entertainment (6425 JP) may not have got as much out of Wynn Resorts Ltd (WYNN US) as it (and its investors) hoped from the recent court...
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Macau Gaming Stocks Not Incorporating Cyclicality and Policy Risks; Shares Overvalued
After an average 82% run-up in share price since the fourth quarter of 2016 for the six narrow-moat Macau gaming names we cover, we think the Macau...
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Japan Casino Bill Back in the Headlines
The presence of MGM Resorts International (MGM US) CEO, James Murren, in Tokyo earlier this month, is a timely reminder to everyone that the...
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