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Posted
Sep 22 2009, 09:44 AM
by
Minyanville
Money Blog: Top Stocks Blog - MSN Money
This article is written by Minyanville's Josh Lipton
Investors have wagered hard on the gambling stocks but, at their current prices, it’s hard to see why stock pickers should double down on this bet. Jeff Macke vibed on this sector over the summer in, Don't Gamble on Casino Stocks.
Wynn Resorts (WYNN) made headlines over the weekend when the Las Vegas-based company said it has increased the size of the initial public offering in Hong Kong for its Macau unit by 25%, looking to raise up to $1.6 billion, according to Reuters. Wynn’s rival, Las Vegas Sands (LVS), is also busy, hoping to raise $1 billion to $2 billion through the sale of a stake in its Macau operations, possibly at the end of November.
Investors have gone all-in with the gambling stocks: Over the last six months, Wynn is up 232%, MGM Mirage (MGM) has skyrocketed 329%, and Las Vegas Sands has surged 673%.
Why the enthusiasm? The stocks have run off the bottom as investors bet on better times ahead for the consumer. Also, there's now less fear about these companies going belly up.
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Posted
Aug 11 2009, 09:49 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville's Andrew Jeffery Apparently, when times are tough, Americans are less inclined to burn through their precious dollars at slot machines and blackjack tables. As consumers across the country readjust their spending habits to the new reality of less readily available credit and a weak job market, trips to Vegas, Atlantic City, and the local riverboat are getting the ax. The Wall Street Journal reported yesterday that, after dropping 2.2% in 2008 from the year before, state gambling revenue was weak again during the first 6 months of 2009. (See also: Why You Shouldn't Gamble on Casino Stocks)
Casino companies, too, are smarting, with Las Vegas Sands (LVS), MGM Grand (MGM), Wynn Resorts (WYNN), and Boyd Gaming (BYD) all off sharply from their 2007 highs. Most of the stocks, however, have had a banner year in 2009: Wynn Resorts is up over 300% since its March lows, while Las Vegas Sands has spiked almost 600% since the spring.
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Posted
Jun 29 2009, 11:13 AM
by
Catherine Holahan
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Are human beings hard-wired for financial folly?
Yes, according to an article in this month's issue of Scientific American. Behavioral economists and scientific researchers interviewed by the magazine say human brains simply can't account for inflation.
According to the researchers, humans suffer from a biological flaw called "money illusion." To put it simply, our brains get excited when we receive large sums of money, even when prices have increased sufficiently to prevent any real gains in purchasing power. The human mind is simply fascinated by more money, even when it's not worth any more.
If you've followed the markets at all in the past year, you probably know this intuitively; people buy when it seems like everyone is buying and they sell when it seems like everyone is selling. We are motivated by fear, greed and, perhaps above all, group-think. It's in our DNA.
So how do we make sound financial decisions when our very brains may be conspiring against us?
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Posted
May 21 2009, 02:52 PM
by
Matt Koppenheffer
Rating:
Money Blog: Top Stocks Blog - MSN Money
In a throwback to a time when Pennsylvania was known for thriving steel-making towns, Las Vegas Sands is set to open Sands Casino Resort Bethlehem in the renovated Bethlehem Steel plant.
The $743 million project is very well placed as it is closer than Atlantic City to most people in New York and northern New Jersey. And while a tough economy like this may seem like a bad time to open a new casino, Pennsylvania's budding gaming industry -- which was only legalized in 2004 -- reported year-over-year growth of nearly 14% in April.
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Posted
May 13 2009, 11:16 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Investors are folding on MGM Mirage (MGM) Wednesday. The stock is down more than 20% after the casino operator disclosed plans to raise $2.5 billion through stock and bond offerings.
The company is drowning in $14 billion in debt, $1 billion of which will mature this year. The new stock offering isn't pretty, but it's another step toward getting this company back on its feet.
MGM is trying to recover after its ambitious CityCenter project (pictured) in Las Vegas hit the skids. The government of Dubai was a business partner in the massive project, which will have several hotels and condo complexes, but Dubai sued MGM, accusing it of mismanagement. Things got so bad that construction was about to be stopped altogether.
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Posted
Apr 10 2009, 09:39 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Poor MGM Mirage (MGM). The company is stuck with $13.5 billion in debt, and is trying to finish construction on its massive CityCenter development (pictured) in Las Vegas.
The $9 billion CityCenter was supposed to be Las Vegas' most ambitious endeavor, Reuters reports, but it has become a symbol of how badly the economic downturn has hurt the city.
MGM Mirage partnered with Dubai World, an investment group owned by the Dubai government, on the 67-acre project. But Dubai World wants out. And CityCenter needs a $70 million payment by Monday or construction shuts down. So, like a frustrated blackjack player at 3 a.m., MGM is desperate to find more money.
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Posted
Jun 30 2008, 04:50 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Investors chase high dividend stocks with stable earnings when they are concerned about where to put their money. Which dividends appear safest?
We looked for stocks with dividend yields north of 4.5% (above 10-year T-Note) as the cut-off and those who are expected to see earnings remain ample to maintain the numbers. We had to eliminate everything tied to financial stocks in this climate as many dividends there are trimmed. We also had to eliminate anything tied to high volatility and anything tied to auto's. We screened many others, but here are seven stocks with dividends that we think will either stay the same or grow in the coming year.
24/7 Wall St. created a list of defensive stocks for 2008, and this is an update:
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