More than two years after a government crackdown on corruption sent Macau gaming stocks tumbling, The Chinese government has unveiled yet another new regulation on the Macau gaming industry that has hit gaming stocks hard. The latest new law cut the daily ATM withdrawal limit in Macau from 10,000 patacas to 5,000 patacas, or roughly $626.
Unfortunately, transparency and predictability has never been one of the Chinese government’s strong points. Wynn Resorts, Limited (NASDAQ: WYNN) CEO Steve Wynn said the government’s behavior was “preposterous” when it kept operators in the dark about how many table games they would be allotted just weeks prior to opening billion-dollar new resorts. For the record, none of the major operators that have opened resorts in the past two years have received the table allotment they requested.
Although the U.S. gaming market likely doesn’t have the kind of long-term growth potential that Macau does, U.S. casinos are doing just fine these days. In the current fiscal year, Las Vegas Strip revenue is trending about 6% ahead of last year, and other regions of the country are doing even better. For better or worse, U.S. stock investors likely won’t have to worry about new regulations in the next four years under President-elect Trump.
Best Casino Stocks To Own Right Now: American Capital, Ltd.(ACAS)
Advisors’ Opinion:
- [By Monica Gerson]
American Capital Ltd. (NASDAQ: ACAS) shares rose 5.63 percent to $16.50 in the pre-market trading session as Ares Capital Corporation (NASDAQ: ARCC) reported the purchase of American Capital at $3.4 billion in cash and stock.
Best Casino Stocks To Own Right Now: Marvell Technology Group Ltd.(MRVL)
Advisors’ Opinion:
- [By Chris Neiger]
Specifically, GoPro (NASDAQ:GPRO) and Marvell Technology (NASDAQ:MRVL) caught my eye recently. The two companies are hardly pure-plays in the IoT (there aren’t many of those), but each is betting on the Internet of Things in its own way, and each looks a bit overpriced right now.
- [By Lisa Levin]
Marvell Technology Group Ltd. (NASDAQ: MRVL) agreed to acquire Cavium Inc (NASDAQ: CAVM) in a deal valued at around $6 billion.
Under the deal, Marvell will buy Cavium for $40 per share in cash and 2.1757 shares of its stock for each Cavium share.
- [By Lisa Levin]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Friday’s regular session.
- [By Peter Graham]
The Q4 2017 earnings report for mid cap fabless semiconductor stock Marvell Technology Group Ltd (NASDAQ: MRVL) is scheduled forafter the marketcloses onThursday (March 2nd). Marvell Technology Groupwas in our SmallCap Network Elite Opportunity (SCN EO) portfolio back in 2013 becauseits fundamental and technical context appeared very attractive at the time and the Company’s products also drive Samsung’s family of mobile devices. Our SCN EO newsletter had noted back in May 2013:
- [By Lisa Levin]
Marvell Technology Group Ltd. (NASDAQ: MRVL) agreed to acquire Cavium Inc (NASDAQ: CAVM) in a deal valued at around $6 billion.
Under the deal, Marvell will buy Cavium for $40 per share in cash and 2.1757 shares of its stock for each Cavium share.
- [By Peter Graham]
Mid cap fabless semiconductor stock Marvell Technology Group Ltd (NASDAQ: MRVL) reported Q2 fiscal 2018 earnings after the Thursday market close with results beating Wall Street expectations. Q2 revenue was $604.750 million (which exceeded the midpoint of the Company’s guidance provided on May 25, 2017) versus $597.346 million. GAAP net income from continuing operations was $165.259 million versus $51.305 million. The CEO commented:
Best Casino Stocks To Own Right Now: Chiasma, Inc.(CHMA)
Advisors’ Opinion:
- [By Lisa Levin]
Chiasma Inc (NASDAQ: CHMA) was down, falling around 13 percent to $9.51 ahead of the U.S. Food and Drug Administration’s decision on Friday to approve or reject the company’s therapy. The status of its oral treatment for acromegaly, a capsule known as Mycapssa, will be in focus on Friday. The Street’s biotechnology expert Adam Feuerstein stated that an investor source believes the FDA will reject Chiasma’s capsules because data from a single-arm study failed to demonstrate a clinically meaningful benefit among patients.
