Steve Wynn Agrees to Sell Entire Stake in His Casino
Steve Wynn Agrees to Sell Entire Stake in His Casino
5-Star Luxury Hotels - Dining, Entertainment - Wynn Macau
Casino Mogul Steve Wynn Sells Last Shares of Wynn Resorts
Steve Wynn: Casino mogul moves on Macau - CNN.com
Casino owner goes 'all-in' on own stock
Wynn Macau Owner - Casino City
WYNN MACAU $122 ($̶1̶6̶1̶) - Updated 2021 Prices & Hotel
Suffolk Downs Owner Again Suing Wynn Resorts - Casino.org
Steve Wynn steps down as CEO of Wynn Resorts after
Justin Casey - Executive Director - Wynn Macau | LinkedIn
wynn casino macau owner
wynn casino macau owner - win
Stay warm, here’s some coffee.
18th December 2019 Good morning fellow traders, good luck today, stay warm.
DOW
JPMorgan Chase & Co. (JPM) received regulatory approval from China to set up a majority owned securities venture in the country, which will include a brokerage, investment advisory, underwriting and sponsorship. Merck & Co. (MRK) announced the FDA’s Oncologic Drugs Advisory Committee voted 9-4 in favour of recommending Keytruda, for the treatment of patients with high-risk, non-muscle invasive bladder cancer.
NASDAQ 100
Activision Blizzard (ATVI) announced it is putting the release of its Warcraft III: Reforged, to January 28th 2020, despite aiming to release the game prior to year-end as they feel little more time is needed to maintain its high quality standards. Amazon.com Inc. (AMZN) has paid some of its suppliers up to 25% more for the goods it resells to offset US President Trump’s tariffs on Chinese products, according to Business Insider. Elsewhere, it announced a free return on millions of items, for items such as electronics, household items, pet supplies kitchen appliances and more. Illumina Inc (ILMN) has had its USD 1.2bln deal to acquire Pacific Biosciences of California (PACB) challenged by the FTC, alleging ILMN is aiming to unlawfully maintain a monopoly in the US. Market for next-gen DNA sequencing systems, by eliminating PACB as a threat. Nvidia Corporation (NVDA) has partnered with Tencent (700 HK) to launch a cloud gaming service in China. Tesla (TSLA) are reportedly considering reducing prices of its Model 3 sedans in China by 20% or more in 2020, according to people familiar with the matter.
S & P 500
Altria Group Inc (MO) – A study released suggests that the nicotine formula used by JUUL Labs is almost identical to the flavour and addictive profile of the tobacco company’s Marlboro cigarette. Boston Properties (BXP) increased its quarterly dividend to USD 0.98/share from USD 0.95/share. CIGNA Corp. (CI) is to sell one of its units that sells non-medical insurance products to employers for USD 6.3bln to New York Life Insurance Co. Cigna also announced a USD 4bln share repurchase programme. Cintas Corp (CTAS) Q2 (USD): EPS 2.27 (exp. 2.03), Revenue 1.84bln (exp. 1.82bln); raised its FY20 EPS forecast to 8.65-8.97 (exp. 8.61, prev. 8.47-8.57). Devon Energy (DVN) announced a new USD 1bln share repurchase programme. Dish Network (DISH) co-founder Ergen appealed to testify in support of the T-Mobile (TMUS) and Sprint (S) deal, stating he has letters from three banks prepared to offer USD 10bln to fund the company’s new wireless network. E-Trade (ETFC) has announced an online-trade clearance automation, an industry first which allows administrators to enter, view and edit trade clearance instructions online for their participants, which includes trade windows, number and type of shares, time frame, and other grant specific information. FedEx Corporation (FDX) Q4 19 (USD): Adj. EPS 2.51 (exp. 2.84), Revenue 17.3bln (exp. 17.69bln), FY20 EPS view cut to 9.10-10.35 (adj. now seen between 10.25-11.50). Says quarterly results declined due to weak global economic conditions, higher ground costs, loss of business from a large customer. Later timing of Thanksgiving resulted in shifting of cyber week into December, which negatively impacted the results. Sees FDX ground operating margins to rebound. Morgan Stanley note the poor FedEx earnings holds a negative read to its competitor, United Parcel Service (UPS) General Electric (GE) healthcare unit has issued a recall for its Giraffe Incubator, OmniBed, and Care stations at the request of the FDA, who state the bedside panels can be upright and look closed but not be securely latched. General Mills (GIS) Q4 19 (USD): EPS 0.95 (exp. 0.88), Revenue 4.42bln (exp. 4.43bln). Pet food sales +16% at its Blue Buffalo unit (exp. 15%), backs FY20 Adj. EPS forecast of 3-5% growth and revenue growth of 1-2%. Leidos (LDOS) announced it is to acquire Dynetics, a privately owned company who is an industry-leading applied research and national security solutions company, for a cash value of USD 1.65bln. Eli Lilly & Co. (LLY) announced the launch of its long term, real-world evidence study of Emgality, labelled TRIUMPH, to evaluate the drug in comparison to other migraine treatments. Twitter, Inc. (TWTR) had its PT cut by Citibank to USD 36 from USD 45 over concerns on the near-term revenue outlook, adding ongoing issued with its promotion for the mobile app could hit the company’s revenues. ViacomCBS (VIAC) CBS unit is being sued by a Female 60-minutes producer for discrimination, as she claims she was side-lined after reporting her boss texted her an inappropriate photo. (NY Times) Wynn Resorts Ltd (WYNN) has extended its CEO contract for Matt Maddox through to 2022.
OTHER
Allegheny Tech (ATI) announced Don P. Newman will join the co. as Senior VP and CFO, succeeding Pat DeCourcy, who will remain as SVP and Special Advisor to CEO until March 31st. Newman has more than 30 years of corporate finance and accounting leadership experience at high-growth businesses in a variety of industries, including metals and materials, energy, software, and drilling services. (Street Insider) Fiat Chrysler (FCAU) has signed a binding merger agreement with Peugeot (UG FP) owner PSA for a 50/50 deal, which creates the 4th largest automaker by volume and 3rd largest in revenue, valued at USD 50bln. FCAU agrees to distribute a special dividend of EUR 5.5bln to its shareholders. The CEO of FCAU, Mike Manley, will remain as part of the group, although it is unclear in what position. Lionsgate (LGF.A) announced a strategic alliance with Bharti Airtel and Starzplay to provide premium content from Lionsgate Play to customers in India. Pacific Gas & Electric (PCG) submitted a comprehensive, multi-party settlement agreement to the California Public Utilities Commission, aka CPUC, in relation to the wildfires in 2017-18 striking a USD 1.78bln settlement, although it bans recovering money from customers and was accepted by a US bankruptcy judge. Voya Financial (VOYA) announced it has entered into an agreement to sell its Individual Life and other legacy non-retirement annuities businesses to Resolution Life Group Holdings. Voya forecasts a normalised adj. operating EPS to reach 1.80-1.90 quarterly by the end of 2021 and estimates it will provide roughly USD 1.7bln of deployable capital Of note for Casino/gaming names (LVS, MGM, MLCO, WYNN), PBoC announced it will raise the remittance limit on individuals transfer of money from Macau to mainland Chinese accounts to CNY 80,000 per day from CNY 50,000.
Adelson had a potent ally in his quest: the new president of the United States. Following the business breakfast, Abe had a meeting with Trump before boarding Air Force One for a weekend at Mar-a-Lago. The two heads of state dined with Patriots owner Bob Kraft and golfed at Trump National Jupiter Golf Club with the South African golfer Ernie Els. During a meeting at Mar-a-Lago that weekend, Trump raised Adelson’s casino bid to Abe, according to two people briefed on the meeting. The Japanese side was surprised.
...
Trump also mentioned at least one other casino operator. Accounts differ on whether it was MGM or Wynn Resorts, then run by Trump donor and then-Republican National Committee finance chairman Steve Wynn.
Casino Stocks (note, I researched these about a couple of weeks ago) Casinos are a dangerous business to get into. At first, you may be interested in investing into Casino stocks since many people go to casinos. When I was growing up, I went to Grand Casino in Hinckley, MN and Black Bear Casino in Carlton, MN with my parents. The sounds of playing Hot Shots Progressive, betting $5 on Blackjack, and coming out with $100 more than I did coming in were part of an entertaining evenings. Investing into Casinos, however, are different. Most casinos have lots of debt - more than what the company is earning. Some casinos lose money because they cannot convert revenue into profit. The debt yield of a casino is often higher than Government bonds. In order to compare casino debt yields to Government yields, let us use the allegory of the condom. Using a condom is akin to investing into Government bonds. It is highly unlikely to break (the condom), and it is highly unlikely that the country (America) will collapse - even with Donald Trump as President. The yield may not be as high as company yields, but, is still profitable Now imagine if one does not use a condom. It is possible that one might not get pregnant. However, the odds favor pregnancy. Casino yields are just like that. It is possible that one may profit a lot from casino yields - which offers higher yields than Government yields - however, the risk of insolvency due to huge debt is not worth non using a condom. Junk bonds, or high yield bonds, are bonds that are riskier than normal bonds because there is a risk of insolvency. Casinos frequently are junk bonds. Today, I will show you three examples of companies that specialize in Casinos and specialize in near insolvency.
MGM Resorts International (MGM) is a well known casino in Las Vegas. The question is, is the company financially solvent? Let us find out. MGM has $10.77 billion in revenue. MGM also has $2.10 billion in net income. The equity of MGM is $11.65 billion. This is where the good part ends. MGM has $12.92 billion in debt, meaning that there is more debt than what the company is worth. The company’s bond is so disastrous, that the company’s debt yield is 7.75%, maturing in 3/15/2022. Wynn Resorts (WYNN) is owned by elderly Steve Wynn. The company has a casino in Las Vegas, and a casino in Macau. The goal of Wynn is to profit from international gamblers while profiting from domestic ones as well. The company has $6.31 billion in revenue. The company, last year, made a profit of $747.18 million. WYNN also has $1.08 billion in equity. That is where the good news ends. WYNN has $9.81 billion in debt. It has more debt than revenue, meaning that the company makes less than its’ debt. The company’s long-term-debt-to-equity is 4.82. To bond holders, the bond is 5.5%, maturing in 2020.
Investing to this stock is risky. The company needs to spend over a decade’s worth of net income in order to pay off their debt. This is impossible, since the owner, Steve Wynn, is not only elderly, but, has sexual assault allegations.
Empire Resorts (NYNY) is the final example of Casino companies who cannot handle their weight. NYNY reported $157.80 million in revenue. The owner of the state's largest new casino -- built to help boost the Catskills economy -- lost $37.2 million in the second quarter alone, $33.72 million in the third quarter.
Funny, isn’t it? A casino company, who is supposed to make money, is losing money.
Empire Resorts, which owns the big new Resorts World Catskills casino and the older and smaller nearby Monticello Raceway, reported the losses in a quarterly filing to the U.S. Securities & Exchange Commission for the period ending June 30th and September 30th. The filing also showed the company with $462 million in long-term debts as of June 30. Now, you could argue that the company could simply pay off the debts with cash, right? Wrong. The company only has $18.39 million in cash.
The company’s equity is $184.87 million in equity. In other words, the company is more in debt that what it is worth. Furthermore, the company has no dividend, meaning that the company has no money to borrow for their extraordinarily high debt. NYNY’s long-term-debt-to-equity is 2.91. Conclusion
In conclusion, even the best Casino companies are in danger of insolvency due to large debt, low net income, and low equity.
CEOs, investors, and entrepreneurs are among those named in the college admissions cheating scandal — here are the 22 business leaders who've been charged by the FBI
Gregory Abbott: founder and chairman of a food and beverage packaging company.
Gamal Abdelaziz: former president and executive director of Wynn Macau Ltd, a developer and operator of high-end hotels and casinos. He resigned from his role in October 2016.
Diane Blake: an executive at a retail merchandising firm in California.
Todd Blake: an entrepreneur and investor based in California.
Jane Buckingham: founder and CEO of Trendera, a marketing company with offices in New York and Los Angeles that specializes in trend forecasting, brand strategy, and generational research.
I-Hin "Joey" Chen: operator of a provider of warehousing and related services for the shipping industry.
Robert A. Flaxman: co-founder, CEO, and president of Crown Realty & Development Inc., which is headquartered in Costa Mesa, California.
Manuel A. Henriquez: founder, chairman, and CEO of Hercules Capital, a publicly traded specialty finance company.
Douglas Hodge: former CEO of Pacific Investment Management Co. He retired from the position in 2017.
Agustin Huneeus: co-founder of the Quintessa vineyard estate in Napa Valley and involved in a variety of other winery projects.
Bruce Isackson: president of WP Investments, a California-based commercial real estate investment, development, and property management company.
Michelle Janavs: former executive of a large food manufacturer.
Elisabeth Kimmel: director of First Busey Corporation and owner and president of Midwest Television.
Marjorie Klapper: co-owner of a jewelry business in California.
Toby MacFarlane: a former senior executive at a title insurance company.
Bill McGlashan: founder and managing partner of TPG Growth and co-founder and CEO of The Rise Fund.
Marci Palatella: founder of Preservation Distillery and CEO of international spirits and wine distributor.
Peter Jan Sartorio: president and co-founder of Elena's Food Specialties, which manufactures and markets natural and organic frozen food.
Stephen Semprevivo: general manager and growth/strategy executive at Cydcor, a major provider of outsourced sales services.
Devin Sloane: founder and general manager of aquaTECTURE LLC, a technology and investment firm focused on water.
John Wilson: founder and CEO of a private equity and real estate development firm.
Robert Zangrillo: founder, chairman, and CEO of Dragon Global, a private investment company focused on venture capital and real estate investments.
Police said at least 12 people have died after a shooting at a crowded restaurant in Thousand Oaks, California. According to a local NBC News report, at least 11 people had been shot, including a deputy sheriff. The shooter is confirmed dead.
Attorney General Jeff Sessions is leaving the Trump administrationafter more than a year of public criticism from his boss, President Donald Trump. Sessions' chief of staff, Matthew Whitaker, will serve as acting attorney general. (CNBC)
Whitaker will take over Mueller probe oversight (CNBC)
The day after his party lost its lock on Congress, Trump walked into a press conference ready for political combat, name-checking Republicans who he blamed for losing their seats and lashing out at reporters who challenged his assertions. (Reuters)
Trump is in big trouble now that Democrats control the House — and he knows it (CNBC)
Health care wins and stocks rally as Democrats take control of the US House (CNBC)
The White House suspended the press pass of CNN's Jim Acosta after he and Trump had a heated confrontation at a news conference. They began sparring after Acosta asked Trump about the caravan of migrants heading to the southern U.S. border. (AP)
Mike Bloomberg and Tom Steyer become kingmakers for Democrats as both billionaires mull a 2020 run (CNBC)
China reported today exports and imports for the month of October that exceeded forecasts. The country's overall trade surplus was $34.01 billion for October, lower than the $35 billion economists had expected. (CNBC)
Tesla (TSLA) announced late last night that Robyn Denholm has taken Elon Musk's place as chair of the company's board. Denholm, who has served on Tesla's board since 2014, will be leaving her role as CFO of Telstra to focus on Tesla full time. (CNBC)
Walmart (WMT) will begin offering Black Friday deals earlier this year, as it vies with Amazon (AMZN) and other retailers for holiday sales. Black Friday deals will be offered online at 10 p.m. ET on Wednesday, Nov. 21, the night before Thanksgiving. (CNBC)
Alphabet (GOOGL) unit Google is planning to expand its office spacein New York City, potentially allowing the tech giant to significantly increase staffing in the city, according to a new report from The Wall Street Journal.
ARRIS International – The maker of communications hardware and software will be acquired by CommScope for $7.4 billion, including assumed debt. The deal is worth $31.75 per share in cash, compared to Wednesday's closing price for ARRIS of $27.79 per share.
Perrigo – The drugmaker reported adjusted quarterly profit of $1.09 per share, beating estimates by 8 cents a share despite revenue coming in slightly short of forecasts. The company cut its full-year guidance due to challenges in its generic drug business, among other factors.
DR Horton – The home builder matched Street forecasts with quarterly profit of $1.22 per share, while revenue fell below estimates. The company also raised its quarterly dividend to 15 cents per share from 12 1/2 cents.
Party City – The party supplies retailer missed estimates by 10 cents a share, with quarterly profit of 8 cents per share, and revenue also fell short of Wall Street forecasts as comparable-store sales fell 1 percent. Party City also cut its full-year outlook amid operational disruptions, increased inflationary pressures, and slightly lower-than-expected sales.
Monster Beverage – The beverage maker's shares are under pressure, on news that Coca-Cola may be allowed to release two competing drinks. The two companies signed a cooperation agreement in 2015 that did contain some competitive exemptions, but they disagree over whether those exemptions apply in this case.
L Brands – The retailer raised its current-quarter forecast, based on better-than-expected performance at its Bath & Body Works unit. L Brands, which is also the parent of Victoria's Secret, reported an October company-wide comparable-store sales increase of 4 percent.
Cardinal Health – The drug distributor earned an adjusted $1.29 per share for its latest quarter, 21 cents a share above estimates. Revenue also topped Street forecasts.
Qualcomm – Qualcomm reported adjusted quarterly earnings of 90 cents per share, 7 cents a share above estimates. The chipmaker's revenue also came in above Wall Street forecasts, however Qualcomm's current-quarter revenue forecast was below consensus estimates due largely from the loss of chip sales to Apple.
Keurig Dr Pepper – Keurig Dr Pepper beat estimates by 3 cents a share, with adjusted quarterly profit of 30 cents per share. Revenue came in just above Street forecasts. The beverage maker said the combination of Keurig Green Mountain and Dr Pepper Snapple Group is "off to a great start."
Roku – Roku posted an adjusted loss of 9 cents per share, 3 cents a share smaller than Wall Street was expecting. The maker of streaming media devices also saw revenue beat forecasts, but the shares are being pressured by weaker-than-expected video platform revenue and a forecast of a net loss for the holiday quarter.
News Corp – News Corp reported adjusted quarterly profit of 17 cents per share, well above the consensus estimate of 4 cents a share. The Wall Street Journal owner's revenue was essentially in line with forecasts. Results were boosted by the expansion of News Corp's subscription video services business.
Take-Two Interactive – Take-Two beat estimates by 12 cents a share, with adjusted quarterly profit of $1.05 per share,. The videogame maker's revenue also exceeded forecasts and Take-Two raised its full-year outlook following an upbeat debut for its "Red Dead Redemption II" videogame.
Wynn Resorts – Wynn fell 1 cent a share shy of Wall Street forecasts, with adjusted quarterly profit of $1.68 per share. The casino operator's revenue beat estimates, however Wynn executives are warning of a slowdown in the key Macau market.
Comcast – Comcast is planning to roll out a new set top box that allows broadband-only subscribers to aggregate video streaming applications like Netflix and YouTube. Sources tell CNBC that the product is set to be launched next year. Comcast is the parent company of NBCUniversal and CNBC.
Square – Square beat estimates by 2 cents a share, with adjusted quarterly profit of 13 cents per share. The mobile payments company's revenue also beat forecasts, however Square's current-quarter earnings guidance is below Street forecasts.
TripAdvisor – TripAdvisor reported adjusted quarterly profit of 72 cents per share, well above the consensus estimate of 48 cents a share despite revenue falling short of analysts' forecasts.
Tesla – Tesla named board member Robyn Denholm as its new chair, replacing Elon Musk. Musk had agreed to vacate the chairman's role under a settlement with U.S. regulators.
Walmart – Walmart will begin offering Black Friday deals earlier this year, as it vies with Amazon.com and other major retailers for holiday sales. Black Friday deals will be offered online at 10 p.m. ET on Wednesday, November 21, the night before Thanksgiving.
UBS – UBS said it expected to be sued by the Justice Department today over the sales of mortgage backed securities ahead of the 2008 financial crisis. It said it would contest any such complaint "vigorously."
Costco – The warehouse retailer reported an 8.6 percent increase in October comparable-store sales, above the consensus estimate of 7.7 percent compiled by StreetAccount.
Wells Fargo – Wells Fargo is considering the sale of its retirement plan services business, according to a Bloomberg report. The bank is said to be in the early stages of mulling a sale, with the unit worth an estimated $1 billion.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Thursday, November 8th, 2018! :)
Police said at least 12 people have died after a shooting at a crowded restaurant in Thousand Oaks, California. According to a local NBC News report, at least 11 people had been shot, including a deputy sheriff. The shooter is confirmed dead.
Attorney General Jeff Sessions is leaving the Trump administrationafter more than a year of public criticism from his boss, President Donald Trump. Sessions' chief of staff, Matthew Whitaker, will serve as acting attorney general. (CNBC)
Whitaker will take over Mueller probe oversight (CNBC)
The day after his party lost its lock on Congress, Trump walked into a press conference ready for political combat, name-checking Republicans who he blamed for losing their seats and lashing out at reporters who challenged his assertions. (Reuters)
Trump is in big trouble now that Democrats control the House — and he knows it (CNBC)
Health care wins and stocks rally as Democrats take control of the US House (CNBC)
The White House suspended the press pass of CNN's Jim Acosta after he and Trump had a heated confrontation at a news conference. They began sparring after Acosta asked Trump about the caravan of migrants heading to the southern U.S. border. (AP)
Mike Bloomberg and Tom Steyer become kingmakers for Democrats as both billionaires mull a 2020 run (CNBC)
China reported today exports and imports for the month of October that exceeded forecasts. The country's overall trade surplus was $34.01 billion for October, lower than the $35 billion economists had expected. (CNBC)
Tesla (TSLA) announced late last night that Robyn Denholm has taken Elon Musk's place as chair of the company's board. Denholm, who has served on Tesla's board since 2014, will be leaving her role as CFO of Telstra to focus on Tesla full time. (CNBC)
Walmart (WMT) will begin offering Black Friday deals earlier this year, as it vies with Amazon (AMZN) and other retailers for holiday sales. Black Friday deals will be offered online at 10 p.m. ET on Wednesday, Nov. 21, the night before Thanksgiving. (CNBC)
Alphabet (GOOGL) unit Google is planning to expand its office spacein New York City, potentially allowing the tech giant to significantly increase staffing in the city, according to a new report from The Wall Street Journal.
ARRIS International – The maker of communications hardware and software will be acquired by CommScope for $7.4 billion, including assumed debt. The deal is worth $31.75 per share in cash, compared to Wednesday's closing price for ARRIS of $27.79 per share.
Perrigo – The drugmaker reported adjusted quarterly profit of $1.09 per share, beating estimates by 8 cents a share despite revenue coming in slightly short of forecasts. The company cut its full-year guidance due to challenges in its generic drug business, among other factors.
DR Horton – The home builder matched Street forecasts with quarterly profit of $1.22 per share, while revenue fell below estimates. The company also raised its quarterly dividend to 15 cents per share from 12 1/2 cents.
Party City – The party supplies retailer missed estimates by 10 cents a share, with quarterly profit of 8 cents per share, and revenue also fell short of Wall Street forecasts as comparable-store sales fell 1 percent. Party City also cut its full-year outlook amid operational disruptions, increased inflationary pressures, and slightly lower-than-expected sales.
Monster Beverage – The beverage maker's shares are under pressure, on news that Coca-Cola may be allowed to release two competing drinks. The two companies signed a cooperation agreement in 2015 that did contain some competitive exemptions, but they disagree over whether those exemptions apply in this case.
L Brands – The retailer raised its current-quarter forecast, based on better-than-expected performance at its Bath & Body Works unit. L Brands, which is also the parent of Victoria's Secret, reported an October company-wide comparable-store sales increase of 4 percent.
Cardinal Health – The drug distributor earned an adjusted $1.29 per share for its latest quarter, 21 cents a share above estimates. Revenue also topped Street forecasts.
Qualcomm – Qualcomm reported adjusted quarterly earnings of 90 cents per share, 7 cents a share above estimates. The chipmaker's revenue also came in above Wall Street forecasts, however Qualcomm's current-quarter revenue forecast was below consensus estimates due largely from the loss of chip sales to Apple.
Keurig Dr Pepper – Keurig Dr Pepper beat estimates by 3 cents a share, with adjusted quarterly profit of 30 cents per share. Revenue came in just above Street forecasts. The beverage maker said the combination of Keurig Green Mountain and Dr Pepper Snapple Group is "off to a great start."
Roku – Roku posted an adjusted loss of 9 cents per share, 3 cents a share smaller than Wall Street was expecting. The maker of streaming media devices also saw revenue beat forecasts, but the shares are being pressured by weaker-than-expected video platform revenue and a forecast of a net loss for the holiday quarter.
News Corp – News Corp reported adjusted quarterly profit of 17 cents per share, well above the consensus estimate of 4 cents a share. The Wall Street Journal owner's revenue was essentially in line with forecasts. Results were boosted by the expansion of News Corp's subscription video services business.
Take-Two Interactive – Take-Two beat estimates by 12 cents a share, with adjusted quarterly profit of $1.05 per share,. The videogame maker's revenue also exceeded forecasts and Take-Two raised its full-year outlook following an upbeat debut for its "Red Dead Redemption II" videogame.
Wynn Resorts – Wynn fell 1 cent a share shy of Wall Street forecasts, with adjusted quarterly profit of $1.68 per share. The casino operator's revenue beat estimates, however Wynn executives are warning of a slowdown in the key Macau market.
Comcast – Comcast is planning to roll out a new set top box that allows broadband-only subscribers to aggregate video streaming applications like Netflix and YouTube. Sources tell CNBC that the product is set to be launched next year. Comcast is the parent company of NBCUniversal and CNBC.
Square – Square beat estimates by 2 cents a share, with adjusted quarterly profit of 13 cents per share. The mobile payments company's revenue also beat forecasts, however Square's current-quarter earnings guidance is below Street forecasts.
TripAdvisor – TripAdvisor reported adjusted quarterly profit of 72 cents per share, well above the consensus estimate of 48 cents a share despite revenue falling short of analysts' forecasts.
Tesla – Tesla named board member Robyn Denholm as its new chair, replacing Elon Musk. Musk had agreed to vacate the chairman's role under a settlement with U.S. regulators.
Walmart – Walmart will begin offering Black Friday deals earlier this year, as it vies with Amazon.com and other major retailers for holiday sales. Black Friday deals will be offered online at 10 p.m. ET on Wednesday, November 21, the night before Thanksgiving.
UBS – UBS said it expected to be sued by the Justice Department today over the sales of mortgage backed securities ahead of the 2008 financial crisis. It said it would contest any such complaint "vigorously."
Costco – The warehouse retailer reported an 8.6 percent increase in October comparable-store sales, above the consensus estimate of 7.7 percent compiled by StreetAccount.
Wells Fargo – Wells Fargo is considering the sale of its retirement plan services business, according to a Bloomberg report. The bank is said to be in the early stages of mulling a sale, with the unit worth an estimated $1 billion.
Hope Hicks, longtime Trump aide and White House communications director, plans to resign in the coming weeks, NBC News has confirmed. Earlier this week, Hicks reportedly told lawmakers that she sometimes told white lies as part of her job.
Scaramucci to Hicks: 'The best is yet to come' (USA Today)
Special Counsel Robert Mueller has reportedly been investigatingTrump's apparent efforts to oust Attorney General Jeff Sessions last summer. Mueller questioned witnesses about Trump's private comments and state of mind in late July and early August. (Washington Post)
Trump calls AG Sessions' decision on FISA probe 'disgraceful' (CNBC)
During a bipartisan meeting, the NRA and GOP senators pushed backon President Donald Trump's comments about taking guns away from owners without due process. * Trump also called for gun control legislation that would expand background checks. (Axios & NY Times)
On gun reform, Trump must show that he's not all talk (CNBC)
Due process, Obama: 5 things Trump told lawmakers about guns(USA Today)
Walmart (WMT) is raising the minimum age to buy guns to 21, citing "recent events" for the move. It will also remove any items from its website that resemble assault rifles, including non-lethal items. Walmart no longer sells assault rifles, having halted them in 2015. (CNBC)
Treasury Secretary Steven Mnuchin announced the launch of the IRS' new income tax withholding calculator, giving workers guidance on how much they should deduct for these levies under the new law Trump signed in December. (CNBC)
Top steel and aluminium executives have been invited to the White House today for what could be a major trade announcement, Reuters reports, citing sources. The Trump administration has previously proposed tariffs on imports of the metals.
Delivering his annual State of the Union address, Russian President Vladimir Putin revealed a new missile that "can reach any point in the world" and a supersonic device which cannot be tracked by anti-missile systems. (CNBC)
Casino mogul Steve Wynn hit back at explosive accusations of sexual misconduct against him, including one in which a woman accused him of raping her and fathering her child in the 1970s. A spokesman for Wynn called the accusations in part "inflammatory claims." (CNBC)
Music streaming platform Spotify announced plans to list as a public company after nine years as a start-up. The popular service has its share of boosters, but the company has also yet to turn a profit amid amounting music rights costs. (CNBC)
Most of Spotify's investors can cash out at any time (CNBC)
Best Buy – The electronics retailer earned an adjusted $2.42 per share for the fourth quarter, above estimates of $2.04 a share. Comparable store sales came in well above Street forecasts, and Best Buy also increased its full-year outlook as well as raising its quarterly dividend to 45 cents per share from 34 cents.
Kohl's – The retailer came in 22 cents a share above estimates, with adjusted quarterly profit of $1.99 per share. Revenue and comparable-store sales were above forecasts and Kohl's also raised its quarterly dividend to 51 cents per share from 55 cents.
Harley-Davidson – The motorcycle maker announced an investment in electric vehicle maker Alta Motors. Alta and Harley will collaborate on electric motorcycle technology and new product development.
Sotheby's – The auction house beat estimates by 9 cents a share, with quarterly earnings of $1.34 per share. Revenue also beat forecasts. The company called 2017 a "very good year" and said that 2018 would be "even better."
Newell Brands – Investor Carl Icahn has taken a stake in the consumer products maker, according to the New York Post. Activist investor Starboard Value also has a stake in Newell.
Walmart – Walmart is raising the minimum age to buy guns to 21, citing "recent events" for the move. It will also remove any items from its website that resemble assault rifles, including non-lethal items. Walmart no longer sells assault rifles, having halted them in 2015.
Salesforce.com – The company topped estimates by 2 cents a share, with adjusted quarterly profit of 35 cents per share. Revenue topped forecasts, as well. The company's results were boosted by growing sales of its cloud-based sales and marketing software.
Box – Box lost 6 cents per share for its fourth quarter, 2 cents a share smaller than Wall Street had anticipated. Revenue was in line, as was the cloud storage company's earnings outlook for the current year. Its revenue forecast for the year fell shy of expectations, however, and it added fewer paid customers than it had in the third quarter.
Monster Beverage – Monster reported quarterly profit of 35 cents per share, 2 cents a share below estimates. Revenue also missed forecasts. The beverage maker said its fourth-quarter sales fell due to international inventory reductions.
Exxon Mobil – Exxon is exiting some of its joint ventures with Russian energy firm Rosneft, citing 2014 sanctions. Rosneft said the move will result in "serious losses" from that decision.
Anheuser-Busch InBev – The beer brewer is forecasting stronger-than-expected profit and revenue growth this year, thanks to a rebound in the Brazil market.
WPP – WPP reported its lowest full-year earnings since the financial crisis, with the advertising company also giving a weaker than expected outlook for 2018. That's in contrast to competitors who had given more optimistic outlooks for this year.
Netflix – The video streaming service announced a new European partnership with U.K. broadcaster Sky, with Netflix joining a bundle in a new Sky TV subscription package.
Las Vegas Sands, Wynn Resorts – These stocks could be pressured by news that Macau casino revenue grew by 5.7 percent in February, missing analysts' forecasts.
Monsanto – German chemical maker Bayer said it is willing to sell more assets to gain regulatory approval for its planned $60 billion takeover of Monsanto. The Wall Street Journal reports that the European review of the deal does appear to be headed for conditional approval, with a decision expected by April 5.
3D Systems – 3D Systems said it expected to earn an adjusted 3 to 5 cents per share for its fourth quarter, better than the penny per share consensus estimate. The maker of 3D printing systems has delayed its fourth-quarter report as it plans for new revenue recognition rules.
L Brands – L Brands reported adjusted quarterly profit of $2.11 per share, 8 cents a share above estimates. Revenue also topped expectations. Comparable-store sales beat forecasts, but the Victoria's Secret parent gave a weaker-than-expected earnings outlook for the current quarter and the full year.
Hostess Brands – Hostess beat estimates by 3 cents a share, with adjusted quarterly profit of 17 cents per share. The snack maker helped by sales of newer offerings. The company also hinted that it was actively pursuing acquisitions.
US-based casinos went to a lot of problems recently and they struggle to keep revenue on an uptrend, or just breakeven on some occasions. That's why when Wynn Casinos announced that this July revenue exceeded even the most optimistic expectations, the gambling world was pleasantly surprised. The Las Vegas facilities were particularly profitable, with the profits increasing four times more than their counterparts in Macau. This doesn't mean that we are witnessing a shift, as the Asian market remains the most profitable one overall, accounting for more than 60% of Wynn revenue. Nevertheless it is great news that the Las Vegas operations are finally on the mend, with a double-digit growth being a positive sign. Slots were the odd exception as their numbers were rather flat, but table games did quite well and they were responsible for a surge of 15%. Wynn resorts' operations in Macau didn't do too bad, but 3.2% is not the kind of growth to shout for, especially for this booming market. The good news is that even though the revenue resulting strictly from gambling wasn't impressive by any standards, the occupancy level was clearly on the rise. Meanwhile, the owner and top management are thrilled about the fact that this was the best July ever in the history of Las Vegas and they are pretty optimistic about what the summer will bring. Their intention is to expand their presence in Asia, while investing in growing markets such as Vietnam, without completely ignoring what happens back home. The United States is an immensely lucrative market and even though the prospect of legalized online gambling has an intimidating effect on some moguls, overall the consequences shouldn't be feared. Speaking of online gambling, some Americans are already allowed to play poker over the Internet or spinning the reels, but only if they reside in the state of New Jersey, Nevada and Delaware. 32Red Casino would be thrilled to expand its operations in the United States, but until favorable legislation passes nationwide, or at least until state compacts are formed, they have very little to do. On the bright side, their European operations are doing just fine and the customer base is on the rise worldwide. from via Casinoreviews
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. There are 450+ tables and 700+ slot machines in Macau with another 200+ tables and 1,850 slots in Vegas. Plus there's the new outfit coming in Everett, MA!
Recent financials
The figures say it all :(
Metric
2015A
2014A
2013A
2012A
2011A
Revenue
$4.1bn
$5.4bn
$5.6bn
$5.2bn
$5.3bn
EPS
$1.92
$7.18
$7.17
$4.82
$4.88
But if you want to know why? Macau saw sales down 35% in 2015 (to $2.5bn) and Vegas was off a little (down 2% to $1.6bn).
The decline is primarily due to the continued weak gaming environment affecting our Macau Operations, which experienced a year-over-year decrease in casino revenues of 35.5% from $3,586.8 million to $2,312.9 million. Our VIP gaming operations drove the Macau Operations casino revenue reduction, with $57.92 billion in VIP turnover for the year ended December 31, 2015, compared to $108.08 billion for the same period of 2014.
Is that the canary in the coal mine for China? Or just that the wealthy are embracing the new president's austere views?
Competition
Let's focus on Macau first
In addition to Wynn Macau SA, each of Sociedade de Jogos de Macau ("SJM") and Galaxy Entertainment Group Limited are primary concessionaires with Sands China Ltd., Melco Crown and MGM China Holdings Limited operating under subconcessions. There is no limit to the number of casinos each concessionaire or subconcessionaire is permitted to operate, but each facility is subject to government approval. Currently, there are 36 operating casinos in Macau.
Oh dear. Sounds like there's overcapacity...
As of December 31, 2015, there were 32,200 hotel rooms, 5,957 table games and 14,578 slot machines in Macau, compared to 12,978 hotel rooms, 2,762 table games and 6,546 slot machines as of December 31, 2006.
So a 2 to 3 fold increase in 10 years. Now over in Vegas things are decidedly rosier!
During 2015, the average daily room rate increased 2.7% and visitation increased 2.9% to 42.3 million visitors compared to 2014. In addition, Las Vegas Strip resorts experienced 2015 year-over-year increases of 0.6% and 3.3% in occupancy and revenue per available room, respectively.
Companies
Latest Sales
Operating Profit
Return on Equity
Wynn Resorts, Limited
$3,999M
24%
N/A
Las Vegas Sands Corp.
$11,122M
32%
24%
MGM Resorts International
$8,952M
22%
-3%
Red Rock Resorts Inc
$1,382M
34%
33%
Penn National Gaming, Inc
$2,999M
29%
N/A
Churchill Downs, Inc.
$1,279M
21%
12%
So margins are good, but not great... and returns are N/A... why? Because WYNN's been so good at returning capital that there really is no equity left to measure returns on equity. Nice!
Cash / Debt?
Wynn Resorts, Limited has $7,345M of net debt. That is 7.8x its latest operating profit. Ooops. So in effect the aggressive pay-outs come with a catch.
Metric
2015A
2014A
2013A
2012A
2011A
EPS
$1.92
$7.18
$7.17
$4.82
$4.88
Cash distribution per share
$3.00
$6.26
$7.00
$9.50
$6.50
Wall Street thinks?
The professionals on Wall Street have a $102.54 for Wynn Resorts, Limited and their recommendation to clients is Hold. That implies an downside of 6% to their target.
Valuation
At 28x earnings it's hard to disagree with the brokers. Though, am a little surprised they see such good long-term growth prospects. How can I justify WYNN when RRR is on 18x and PENN on 13x?
Wynn Resorts, Limited is forecast to pay a dividend of $2.16 per share, compared with a historic dividend of $2.00 per share. That is a 8% growth. The forecast dividend of $2.16 compares to a forecast EPS of $3.88.
Catalysts
After the horror of 2015, 2016's got back on track and the business is stabilising and EPS is recovering. In the last 3 months the stock price has moved by 8% that compares with a change in the earnings forecasts of +6%. Though on a 1 year view the stock's up 60% with earnings up 20%. On the management team's latest call with Wall Street brokers they highlighted that Macau's improving and that they'll keep up returning capital to shareholder. They even spoke of the new casino near Boston, finally getting it's construction permits. But the one thing they didn't do was talk guidance. Seems it's just not something they do! I fear the easy money's been made on WYNN the last 12 months, as folks that believe the earnings would come back got rewarded. So, how do the chips fall from here? Is the next big event, the launch of Boston? Or will we have to bear the capex cost before we see the benefit? What's your gamble? View the archive of Stock a Day posts at its subreddit stockaday. And please send us suggestions on what you'd like us to research next! If you'd like to join the writing team please get in touch. Our writing template is available here if you'd like to use it to pen your own stockAday type posts :). Disclosure: I have no positions in any stocks mentioned. However I may initiate a position within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. Author notes: u/shane_stockflare works at a financial website, Stockflare, and is a Chartered Financial Analyst. Previously he worked at Credit Suisse, where he was an equity research analyst covering tech stocks and at Citigroup where he was an investment banker.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. There are 450+ tables and 700+ slot machines in Macau with another 200+ tables and 1,850 slots in Vegas. Plus there's the new outfit coming in Everett, MA!
Recent financials
The figures say it all :(
Metric
2015A
2014A
2013A
2012A
2011A
Revenue
$4.1bn
$5.4bn
$5.6bn
$5.2bn
$5.3bn
EPS
$1.92
$7.18
$7.17
$4.82
$4.88
But if you want to know why? Macau saw sales down 35% in 2015 (to $2.5bn) and Vegas was off a little (down 2% to $1.6bn).
The decline is primarily due to the continued weak gaming environment affecting our Macau Operations, which experienced a year-over-year decrease in casino revenues of 35.5% from $3,586.8 million to $2,312.9 million. Our VIP gaming operations drove the Macau Operations casino revenue reduction, with $57.92 billion in VIP turnover for the year ended December 31, 2015, compared to $108.08 billion for the same period of 2014.
Is that the canary in the coal mine for China? Or just that the wealthy are embracing the new president's austere views?
Competition
Let's focus on Macau first
In addition to Wynn Macau SA, each of Sociedade de Jogos de Macau ("SJM") and Galaxy Entertainment Group Limited are primary concessionaires with Sands China Ltd., Melco Crown and MGM China Holdings Limited operating under subconcessions. There is no limit to the number of casinos each concessionaire or subconcessionaire is permitted to operate, but each facility is subject to government approval. Currently, there are 36 operating casinos in Macau.
Oh dear. Sounds like there's overcapacity...
As of December 31, 2015, there were 32,200 hotel rooms, 5,957 table games and 14,578 slot machines in Macau, compared to 12,978 hotel rooms, 2,762 table games and 6,546 slot machines as of December 31, 2006.
So a 2 to 3 fold increase in 10 years. Now over in Vegas things are decidedly rosier!
During 2015, the average daily room rate increased 2.7% and visitation increased 2.9% to 42.3 million visitors compared to 2014. In addition, Las Vegas Strip resorts experienced 2015 year-over-year increases of 0.6% and 3.3% in occupancy and revenue per available room, respectively.
Companies
Latest Sales
Operating Profit
Return on Equity
Wynn Resorts, Limited
$3,999M
24%
N/A
Las Vegas Sands Corp.
$11,122M
32%
24%
MGM Resorts International
$8,952M
22%
-3%
Red Rock Resorts Inc
$1,382M
34%
33%
Penn National Gaming, Inc
$2,999M
29%
N/A
Churchill Downs, Inc.
$1,279M
21%
12%
So margins are good, but not great... and returns are N/A... why? Because WYNN's been so good at returning capital that there really is no equity left to measure returns on equity. Nice!
Cash / Debt?
Wynn Resorts, Limited has $7,345M of net debt. That is 7.8x its latest operating profit. Ooops. So in effect the aggressive pay-outs come with a catch.
Metric
2015A
2014A
2013A
2012A
2011A
EPS
$1.92
$7.18
$7.17
$4.82
$4.88
Cash distribution per share
$3.00
$6.26
$7.00
$9.50
$6.50
Wall Street thinks?
The professionals on Wall Street have a $102.54 for Wynn Resorts, Limited and their recommendation to clients is Hold. That implies an downside of 6% to their target.
Valuation
At 28x earnings it's hard to disagree with the brokers. Though, am a little surprised they see such good long-term growth prospects. How can I justify WYNN when RRR is on 18x and PENN on 13x?
Wynn Resorts, Limited is forecast to pay a dividend of $2.16 per share, compared with a historic dividend of $2.00 per share. That is a 8% growth. The forecast dividend of $2.16 compares to a forecast EPS of $3.88.
Catalysts
After the horror of 2015, 2016's got back on track and the business is stabilising and EPS is recovering. In the last 3 months the stock price has moved by 8% that compares with a change in the earnings forecasts of +6%. Though on a 1 year view the stock's up 60% with earnings up 20%. On the management team's latest call with Wall Street brokers they highlighted that Macau's improving and that they'll keep up returning capital to shareholder. They even spoke of the new casino near Boston, finally getting it's construction permits. But the one thing they didn't do was talk guidance. Seems it's just not something they do! I fear the easy money's been made on WYNN the last 12 months, as folks that believe the earnings would come back got rewarded. So, how do the chips fall from here? Is the next big event, the launch of Boston? Or will we have to bear the capex cost before we see the benefit? What's your gamble? View the archive of Stock a Day posts at its subreddit stockaday. And please send us suggestions on what you'd like us to research next! If you'd like to join the writing team please get in touch. Our writing template is available here if you'd like to use it to pen your own stockAday type posts :). Disclosure: I have no positions in any stocks mentioned. However I may initiate a position within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. Author notes: u/shane_stockflare works at a financial website, Stockflare, and is a Chartered Financial Analyst. Previously he worked at Credit Suisse, where he was an equity research analyst covering tech stocks and at Citigroup where he was an investment banker.
This was my 2nd time to Macau (poker-related) and I have good news and bad news for anyone considering a trip. The good news: The games are pretty fishy and if you are a decent player you have a good chance of walking away with a profit. Both this trip and last trip I tripled my original buyin over 3 days. This time, won enough to cover my flight and hotels and still have a profit. Didn't get especially lucky either; there were upswings and downswings but I just played disciplined and aggressive poker. Note that I'm talking about the lowest limits (25 - 50 Hong Kong dollars no limit, which is about $3 - 6 USD) so games may be tougher in 50 - 100 or above. Most players there are weak-tight. 80% of the time there is no pre-flop raise. Post-flop there is more aggression, but you can profit if you learn which type of fish each player is. Some fold too easily, and some call to easily. Once you determine which is which, easy game. A few are good local regs, mostly TAG's. Just avoid getting in big pots with them if possible. The bad news: Poker is not profitable for the casinos, so more and more hotels are closing their rooms, limiting the number of tables, and upping the limits. Hotel Lisboa used to have a big room with 50 tables or so, tournaments, and lower limits (10-25 I think). Just recently they closed it all down. Hard Rock Hotel also closed their poker room. The reason is that there is a cap for each hotel on the total number of table games they can have, and baccarat is much more profitable than poker. So hotel owners look at the numbers and are ditching or really cutting back on the poker, replacing them with baccarat tables. As a result, there are only three hotels left that spread poker: The Venetian, the Wynn, and StarWorld (and this may change so check this thread on 2+2 before you go; click last to go the most recent dated post) http://forumserver.twoplustwo.com/200/regional-communities/macau-488/ So that's not much of a problem in itself. My biggest gripe is that they only have 5 to 10 tables each, so the waiting list is always super long. First night at the Venetian, I was 18th on the list and ended up waiting 6 hours. That was the worst; but other times it was always 2+ hours wait. So basically, the best strategy is to put your name on a list (early afternoon, like 2 or 3, is best), go eat, come back, sit down, and stay there all day and all night. Details and impressions about each place: Venetian: Terrible service. Rude and super slow; plus estimates for wait time were never accurate. Little to no drink service (all costs money). Play is supposed to be softer here but I didn't notice a difference. Limits: 25-50, 50-100, 100-200; NLHE only (others if there is interest) Rake: 5%, 250 HKD cap Wynn: Excellent service. They send you a text when your name is on top of the list, so you don't have to sit there waiting. Decent drink service, free unless alcoholic. Play was pretty soft at 25-50. Limits: 25-50 up to 1,000-2,000; apparently they spread the highest in the world here. They also regularly have PLO but I think 100-200 was the lowest. Rake: 5%, 200 HKD cap StarWorld (Poker King Club): I had high hopes but didn't get to play here. You can call ahead and put your name on the list, but if you're not there within 30 minutes of being called, it's back to the end of the line (which is long). They are the only place with a players card. Limits: 25-50 was the lowest; don't remember how high they went. No Omaha. But they have Sit-N-Go's on Fridays and Saturdays. This is the only "tournament" left in Macau. Rake: Don't know Another thing - not sure if it was coincidence, but most of my profits on all 3 days came between midnight and 6:00 AM. During the day time there were more nit-regs, and night time is when more tourists came out.
I figure you're looking for some kind of crazy Oceans 11 story (of which there are several in the industry but none on my watch), but honestly the best ones are people trying to steal from the fucking buffet.
Mom comes in with two kids and says they're not eating so she shouldn't have to pay. The cashier says OK.
Fast forward 15 minutes and the cashier notices that the kids are missing.
THE FUCKING MOTHER IS FEEDING THEM UNDER THE TABLE LIKE FUCKING DOGS.
We never make judgment on whether or not they can afford it. We really only step in if they come to us or start doing something overt like begging for money or asking for loans, etc. In the macro view, it's very bad for business if we don't do something about problem gambling when it presents itself.
Overhead... EBITDA margin of 30% is great.
Expenses... I guess crab legs would be too obvious? Besides that, maybe table games labor. You have a 0.5% house advantage at blackjack and have to have a physical person here 24/7 plus a supervisor for every 5-6 games.
1.) I actually just moved away for a job. I just think Vegas is OK. I moved there when I was in my mid-20s with a decent job so it was cool and exciting then. Fast forward a decade or so and the allure isn't there anymore. It's not "home" and I don't think it will ever will be because of how transient the population is.
2.) I don't have the numbers in front of me, but we did a study one time and showed that Vegas has the highest incidence of regularly gambling activity in the nation. I always just felt that was a function of accessibility and self selection on the part of the residents. But you're right that locals don't go to the strip. The marketing offers are terrible compared to the non-strip properties and it's a pain to get to the strip just to get your gambling fix.
The industry is very, very heavily regulated. When you get to the executive ranks you have to go through very, very thorough background checks. 5 years of tax returns, 5 years of all cancelled checks, explanations of all withdrawals > $200 and deposits > $500, in depth interview with an agent, etc.
The last time I've heard of legit organized crime here in the states (places like Macau are an entirely different story) was in Rosemont, IL I think in the mid-90s.
Well i'm going to have to respectfully disagree with you on everything except the money laundering despite the fact we have to live by Title 31 Link to en.wikipedia.org
It's possible but relatively rare. you have to have enough cash to really turn out our lights to get to that point. for the vast vast majority of people, we have more money than you so as long as feel like we can get you back in the door, go ahead and win away
It's a lot more than the number of decks and the casinos use that information asymmetry to their advantage (e.g., $5 SINGLE DECK BLACKJACK!!!) Everything being the same, the less amount of decks the better but we will change the payouts for BJ, rules for splitting and double down, etc. to our advantage. So you can have a 6-deck shoe with otherwise very liberal rules that have a lower house advantage than a single deck show with very unfavorable rules.
Every casino company has policies regarding problem gambling that are audited by the state. Each state also has its own minimum guidelines like mandating that brochures be placed in very visible areas of the casinos, hotline numbers printed on every ad, etc.
It's a delicate situation when you think someone might have a problem because, well it might not be a problem. So we generally only do things if they specifically ask us to (e.g., they can ban themselves) or if they start doing something really egregious like asking players or employees for loans at which point we'd probably pull them aside and hand them a brochure and ask if there's anything we can do to help because what they're currently doing is unacceptable (the begging).
I was being sarcastic. It's a huge competitive disadvantage to not be able to offer credit (e.g., Missouri) because no high roller wants to play there. You'd have to physically go to the bank, withdraw 20K cash or whatever, somehow survive walking to your car, and then somehow survive walking to the casino from your car. TBF, there's also what is called front money which is where you can wire money to us and we will hold it for you but you have to pay the fees vs us offering you credit free. I did have a millionaire player who strictly got his money off of a variety of credit cards and would just do cash advances. We obviously never questioned it but he had apparently had a huge credit line (evidenced by the amount he was able to withdraw) and enough to pay it back (evidenced by him able to come often).
Sorry this isn't my area of expertise so I can't with this level of specificity. I'd think a 4X spread wouldn't be bad, though, but just an educated guess.
You could buy a membership to the Green Chip forum (bj21.com), though and read up on the reverse engineering they've done.
Honestly, everything I found out about it at the time was from 2+2. I didn't have direct access to the players so it wasn't really like I could analyze the session with Phil afterwards.
This one is international but I think is the funniest. Not only did you "win" $55MM on a machine that stated the max jackpot was $50K but after winning $55MM, you went ahead and played another spin... just in case...
I'd heard something like that. My best friend (avid gambler) went to Costa Rica and basically came back saying he had to totally re-learn BJ when he was down there because of all of their crazy rules.
If that's true about Panama, I'm surprised there aren't people haven't just set up shop down there and pillaged that place until they went bust.
I actually did something similar for my friend after he split up with his whore wife. We wanted to boost his spirits so gave a hooker $100 to go and flirt with him.
In NC, for example, games have to be "games of skill" so like on the slot machines you don't just pull the handle and watch the reels go round and round, you have to physically touch the game to stop each reel.
Btw, I'm a bit of an advantage gambler myself. I only play low house advantage games, maximize my coupons and promotions etc. so I'm sympathetic but there's just nothing that can be done on the card counting front.
In Texas it's because your legislature meets relatively irregularly. expansion since the 90s has been predicated on budget shortfalls and using gaming to patch up those holes.
Texas' economy has been relatively good so combine that with a conservative legislature that doesn't meet often as we'd have have to have the perfect storm of you having a bad economic run at the same time the legislature is meeting.
Trust me, we are ready to pounce when that happens.
So, if you've never done that kind of work before or sales at all for that matter, you just need to take anykind of remotely similar job and then just keep trying to plug along with the job search.
You see where companies like PENN have already bought stakes in racetracks there, taking a bet that racinos (adding slots to tracks) will be the states first foray.
Need some reference point. Horrible as compared to what. You've got a 3-mile long street with literally a million people on it. There's gonna be crime.
I'm a minimalist. Same mattress I've had for literally 15 years that I got at a department store. Hypoallergenic pillows from Target. 800 count. Also from Target.
No it is not illegal but just like any other business we reserve the right to serve whomever we please (as long as we're not discriminating against a protected class, of course).
In essence you are keeping track of how many 10s/face cards and low cards are in the deck because high cards help the player, low cards help the dealer.
So if you know that the deck is rich in high cards you bet more and vice versa.
For undergrad? Make the program what you want out of it. Just by graduating no one is going to hand you a huge job but if you do well the brand recognition can really work in your favor.
Well everyone goes through a background check through the state with fingerprints and whatnot then executives go through an FBI-style background check where they check all of your bank records and stuff.
But with so much cash floating around there is theft but it's basically like a bank so I can't imagine the incidence to be much higher than with tellers at banks.
Depends on the property and depends on the game. And by rooms, do you mean like direct mail offers or the ability to walk up to someone and say "bitch, I'm a baller - hook me up!"
Wynn Macau is one of 4 properties owned by Wynn Resorts, Limited and Wynn Macau Limited. The following ownership information is a subset of that available in the Gaming Business Directory published by Casino City Press. Wynn Macau presents exquisite classic and contemporary works of art. LEARN MORE. DINING. Fine Dining. Enjoy a world of exquisite flavor at our Forbes Travel Guide Five-Star and Michelin-starred restaurants. Savor every moment at Wynn Macau. Wynn had been on the Forbes list of billionaires since 2004. He owned various properties on the Las Vegas Strip, including Wynn Las Vegas. The executive’s company also had its lucrative Chinese casino, Wynn Macau, while it had opened a $4 billion luxury resort on the Cotai Pensinsula, the Wynn Palace, in 2016. Separately, the Macau casino operator Galaxy Entertainment agreed to buy 5.3 million shares of Wynn Resorts at $175 a share, giving it a stake of around 5 percent in the operator, which has Macau hit by gambling crackdown. Casino owner Wynn Resorts is one of the worst-performing stocks of the year. But founder and CEO Steve Wynn just gave investors a huge vote of confidence by The Mirage, Wynn's first major casino on the Vegas Strip, opened in 1989. He then opened Treasure Island in 1993, and the Bellagio in 1998. In 2006, he opened his first casino in Macau, where A diverse roll encompassing a wide range of group wide “special projects” and initiatives. Liaising closely with casino operations, hotel, marketing, IT and relevant support departments to evaluate new casino and hospitality focused hardware and software systems to advance strategic operational efficiencies and elevate the guest experience. Now $122 (Was $̶1̶6̶1̶) on Tripadvisor: Wynn Macau, Macau. See 1,204 traveler reviews, 1,386 candid photos, and great deals for Wynn Macau, ranked #3 of 121 hotels in Macau and rated 4.5 of 5 at Tripadvisor. Suffolk Downs Owner Again Suing Wynn Resorts Over Boston Casino License. Posted on: November 27, 2020, 10:13h. Last updated on: November 27, 2020, 10:26h. Billionaire casino-owner opened Wynn Macau last year Owner of Las Vegas casinos The Mirage, Treasure Island and Bellagio Rat Pack scene inspired him to move to Las Vegas in 1960s
Stanley Ho, Hong Kong billionaire and Macao's 'godfather of gambling,' dies at 98
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