For Immediate Release
Chicago, IL - January 31, 2017 - 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 Las Vegas Sands Corp. (NYSE: LVS - Free Report ), Wynn Resorts Ltd. (NASDAQ: WYNN - Free Report ), Eldorado Resorts, Inc. (NASDAQ: ERI - Free Report ) and Capri Casinos, Inc. (NASDAQ: ISLE - Free Report ).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Monday's Analyst Blog:
Gambling Stock Roundup: LVS, WYNN Q4 Earnings in Focus
Last week was a big one for the gambling industry, as major casino operators Las Vegas Sands Corp. (NYSE: LVS - Free Report ) and Wynn Resorts Ltd. (NASDAQ: WYNN - Free Report ) kick-started fourth-quarter 2016 earnings.
Wynn Resorts results were mixed as its earnings lagged the Zacks Consensus Estimate while revenues beat the consensus mark. On the other hand, Las Vegas Sands lagged on both fronts.
Apart from this, Eldorado Resorts, Inc.'s (NASDAQ: ERI - Free Report ) pending acquisition of Isle of Capri Casinos, Inc. (NASDAQ: ISLE - Free Report ) got the approval from shareholders of both companies.
Recap of the Week's Most Important Stories
1. Las Vegas Sands' fourth-quarter earnings of 62 cents lagged the Zacks Consensus Estimate of 65 cents by 4.6%. Meanwhile, the figure remained flat on a year-over-year basis.
Quarterly net revenues of $3.08 billion came below the Zacks Consensus Estimate of $3.15 billion by over 2%, but increased 7.4% year over year due to a somewhat better performance in Macao. On a consolidated basis, adjusted property EBITDA increased 6.1% year over year to $1.12 billion during the quarter owing to higher revenues.
This Zacks Rank #3 (Hold) company stated that its Macao portfolio experienced strong visitation and higher hotel occupancy rates. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Thus, though the operating environment in Macao continues to improve, a complete rebound in the region will take time as is evident from Las Vegas Sands' lower-than-expected Q4 results (read more: Las Vegas Sands Misses on Q4 Earnings, Stock Down ).
2. Wynn Resorts posted earnings of 50 cents per share in the fourth quarter, missing the Zacks Consensus Estimate of 67 cents by 25.4%. Further, earnings decreased 35% year over year mainly due to a lower operating income margin.
Net revenue of $1.30 billion surpassed the Zacks Consensus Estimate of $1.25 billion by 4%. Moreover, revenues increased 37.3% on the back of the Wynn Palace opening, partly offset by lower revenues from Wynn Macau and unfavorable performance by the company's Las Vegas Operations (read more: Wynn Resorts Stock Up Despite Earnings Miss in Q4 ).
3. In Sep 2016, Eldorado Resorts reached an agreement to buy the regional gaming operator Isle of Capri Casinos. The total value of the deal between Eldorado and Isle of Capri stands at $1.7 billion, including the latter's long-term debt of $929 million. Recently, at separate Special Meetings of shareholders, certain actions in connection with the transaction received approval from the shareholders of both companies.
Notably, both companies are in the procedure of acquiring all obligatory approvals for the planned transaction, which is expected to close in the second quarter of 2017. Upon completion, Isle of Capri shareholders will own about 38% of the combined entity's outstanding shares. Meanwhile, the combination of Eldorado and Isle of Capri is likely to create a regional player with 20 casino resorts across 10 states.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free .
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