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The Zacks Analyst Blog Highlights: Melco Crown Entertainment, Century Casinos, Iao Kun Group Holding and Wynn Resorts

For Immediate Release

Chicago, IL - November 10, 2015 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Melco Crown Entertainment Limited ( MPEL ), Century Casinos Inc. ( CNTY ), Iao Kun Group Holding Company Ltd. ( IKGH ) and Wynn Resorts Ltd. ( WYNN ).

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Here are highlights from Monday's Analyst Blog:

Gambling Stock Roundup

The first week of November was quite mixed and interesting for the gambling industry with a couple of earnings releases and a few other developments. After missing the Zacks Consensus Estimate for five consecutive quarters, Melco Crown Entertainment Limited's ( MPEL ) earnings beat the same in the third quarter of 2015. However, revenues missed the consensus mark for the fourth consecutive quarter owing to a sluggish environment in Macau, which is a key operating region for this Central Hong Kong-based casino operator.

Meanwhile, Century Casinos Inc.'s ( CNTY ) earnings beat the Zacks Consensus Estimate for the third consecutive quarter while revenues missed the same for the third consecutive quarter during third quarter results.

Rolling Chip Turnover at Iao Kun Group Holding Company Ltd. ( IKGH ) fell for the thirteenth consecutive month in October.

In one other development, Wynn Resorts Ltd. ( WYNN ) expanded its portfolio with the announcement of the newest concept in nightlife, Intrigue at Wynn Las Vegas scheduled to open in Apr 2016. (Read earlier development: Gambling Stock Round Up for Nov 2, 2015 ).

Recap of the Week's Important Stories:

1. Melco Crown posted mixed third quarter 2015 results with adjusted earnings of 11 cents per American Depositary Share beating the Zacks Consensus Estimate of 10 cents by 10%. However, earnings declined approximately 61% year over year owing to lower revenues. In the quarter, net revenue plunged approximately 16% year over year to $945.7 million and also missed the consensus mark of $955.0 million by approximately 1%.

The sluggish revenues reflect lower rolling chip revenues and mass market table games revenues in Macau.These declines were partially offset by revenues generated at City of Dreams Manila. (Read: Melco Crown Tops Q3 Earnings, Down Y/Y on Both Counts )

2. Like Melco Crown, Century Casinos also posted mixed third quarter 2015 results with adjusted earnings of 11 cents per share that beat the Zacks Consensus Estimate of 9 cents by 22%. Meanwhile, it significantly increased year over year owing to an increase in revenues.

While net revenue of $33.5 million missed the Zacks Consensus Estimate by 1.5%, it went up 19% year over year. Increase in revenues at Canada, U.S and Poland led to the year-over-year increase. Adjusted EBITDA of $6.7 million was up 133% year over year, owing to an increase in revenues.

3. Iao Kun Group Holding posted weak Rolling Chip Turnover for the month of Oct 2015. Rolling Chip Turnover is used by casinos to measure the volume of VIP business transacted and represents the aggregate amount of non-negotiable chips players purchase. Iao Kun Group's Rolling Chip Turnover of $0.47 billion fell 57% year over year, marking the thirteenth consecutive monthly decline. Win rate for the month of Oct 2015 was 3.21%.

Iao Kun Group Holding is engaged in the promotion of five major luxury VIP gaming facilities in Macau. The downside reflects a decreasing trend at VIP baccarat due to the ongoing anti-corruption campaign in Macau.

4. At Tryst Nightclub's "Final Affair" industry party, Wynn Resorts ' Wynn Las Vegas announced the newest concept in nightlife, Intrigue that is scheduled to open on Apr 28, 2016 in the space currently occupied by Tryst. Tryst closed on Nov 7, 2015 after running for 10 years. Intrigue will feature state-of-the-art lighting and sound throughout the venue spread over an area of 14,000-square-foot venue. Also, it will feature a private club spread over an area of 1,200 square foot, which will be a social media free zone and will provide guests privacy.

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MELCO CROWN ENT (MPEL): Free Stock Analysis Report

CENTURY CASINOS (CNTY): Free Stock Analysis Report

IAO KUN GROUP (IKGH): Free Stock Analysis Report

WYNN RESRTS LTD (WYNN): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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