Playboy going public: Porn, Gambling, and Cannabis
NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY. https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1. https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%) NEW INFO 2 Here is the full webinar. https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866 NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx Playboy going public: Porn, Gambling, and Cannabis !!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should. In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase. Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below: https://www.playboy.com/ https://www.playboytv.com/ https://www.playboyplus.com/ https://www.iplayboy.com/ Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success. “Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.” https://www.scientificgames.com/ https://www.microgaming.co.uk/ “This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.” https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/ As per their SEC filing: “Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1 They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon. https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again: https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea “Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.” “According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently: https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress. Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait. https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/ Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video: https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05 Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing: “For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.” “In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.” “In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.” “In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.” They are profitable across all three of their current business segments. “Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders). https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world. "Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.” Also in the SEC filing, the Time Frame: “As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn. The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :( He should be fine with the 16 million PLBY shares he's going to have though :) Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw. I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets. https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003 Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this: “Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy. “Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative. https://www.secform4.com/insider-trading/1832415.htm https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html Y’all like that China money? “Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.” Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose. I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future. https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing. https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing “Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.” “Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.” Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong. Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will. Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way. Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains. TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here: WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf Or here: https://www.mcacquisition.com/investor-relations/default.aspx Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.” STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon. Position: 5000 shares. I will buy short, medium, and long-dated calls once available.
Guess the Company #3 (ticker trivia / due diligence)
Previously on Guess the Company Hi fellow kids, I'm back again today with yet another DD where I reveal the ticker at the end rather than the beginning. Let's see how many clues it takes for you to correctly guess today's company: -This company's Q2 2020 revenues dropped 98% compared to a year ago, and its quarterly EPS plunged from $1.24 in Q2 2019 to a loss of ($1.07) in Q2 2020. -Despite these revenue numbers, shareholders were barely fazed and the stock continued to trade sideways between $40-$50 from June to November 2020 -If you bought $10000 of this stock at its all time low in March 2009, you would be receiving about twice that much in annual dividends up until it was suspended in Q2 2020 due to the pandemic -As part of the terms of a $1.5 billion credit facility, this company is not permitted to pay dividend until Q4 2021 unless it can maintain a $1 billion+ liquidity after paying the dividend. -During the height of the financial crisis in 09, this company was reportedly losing $1000 per *second* -When this company was about to go bankrupt, its owner dug into his own pockets and loaned the company $1 billion -Before his company's stocks took a nosedive in 2008, the owner of this company was briefly the 3rd richest person in the USA behind only Bill Gates and Warren Buffet -Although this company is based in Paradise, NV, the majority of its revenues comes from China. More specifically, Macau, China. -In 2010 this company built a $6.88 billion resort in Singapore, billed the world's "most expensive standalone casino property" -With annual revenues of $14 billion, this company is the largest casino operator in the world by market capitalization Have you made your guess yet? If your guess was LVS , you are correct! Outlook for LVS: There are speculations that LVS might sell its Las Vegas Strip properties to a REIT and then lease them back, a move that would raise about $6 billion and allow it to further focus its efforts in Asia where most of its revenues come from. Although my outlook for LVS is bullish, I expect this stock to trade mostly sideways until later this year or early 2022 when it resumes paying dividends to shareholders. OPTAP: $75
Good luck today guys, hope everyone makes some tendies
Edit 8:30PM Thanks for the love and awards guys, hope everyone ended the week off positive, enjoy your weekend.
Of note for Airlines (LUV, DAL, AAL, UAL), the Airlines for Americas trade association says the industry needs “immediate financial assistance” to protect the 11mln jobs it represents. Of note for Banks (JPM, C, MS, BAC, GS), the Fed is encouraged by a notable increase in discount window borrowing as banks show a willingness to use the window as a funding source to support the flow of credit to households and businesses. Of note for Car Rental Services (HTZ, CAR), both Hertz and Avis Budget Corp have requested aid from the US government.
Dow Jones
Apple Inc. (AAPL) supply chain is reportedly still facing supply disruptions even as China recovers due to factory closures of suppliers in Malaysia. Elsewhere, it has limited the number of purchases on its iPhones to two per customer in the US and China, according to Canalys. Boeing Company (BA) is reportedly leaning towards a temporary halt of operations at its twin-aisle jetliner factories due to the spread of the coronavirus, according to people familiar with the matter, in a similar move to Airbus (AIR FP). Johnson & Johnson (JNJ) Global Supply Chain Officer Wengel announced its supply chain is currently holding steady and meeting patient needs. Walmart (WMT) announced it is planning to give special cash bonuses for hourly associates for their work during the current conditions with full-time associates receiving USD 300 and part-time associates receiving USD 150, which will equate to USD 365mln. WMT is to also accelerate its next bonus for store, club and supply chain associates which will equate to USD 180mln, overall it will equate to USD 550mln, the co. says. WMT is to also hire over 150k hourly employees as the number of shoppers increases.
Nasdaq 100
Amazon.com Inc. (AMZN)– Some sellers state its decision to stop receiving non-essential inventory in response to the coronavirus pandemic could limit sales they need to make payments on its loans from Amazon. Tesla (TSLA) announced it decided to temporarily suspend production at its Fremont, California factory and NY Factory after March 23rd. Elsewhere, CEO Musk announced his factories are working on ventilators to address a potential shortage. United Continental Holdings (UAL) – Apollo Global Management (APO) has reportedly purchased part of the airlines USD 2bln loan from a group of banks, according to people familiar with the matter.
S&P 500
Accenture plc (ACN) had its PT cut at a number of brokers, however, they were positive on its ability to continue through the coronavirus crisis. AFLAC Inc (AFL) American Family Life Assurance of Columbus and New York agreed to acquire Zurich North America's US corporate Life and Pensions. AFL expects the acquisition to be dilutive to 2020 adj. EPS by USD 0.02 to 0.03. Altria Group Inc (MO) announced it is temporarily suspending operations at its Richmond manufacturing center. Anthem Inc. (ANTM) announced it is offering up to 80 hours of paid emergency leave for qualifying needs, including if associates are experiencing coronavirus symptoms or for caring for young children whose school has been closed. AT&T Inc. (T) announced it has cancelled is accelerates share repurchase programme of USD 4bln worth of stock, noting the impact of the coronavirus could be material although it cannot currently estimate the impact onto its financial or operational results. Bank of America Corp (BAC) announced it is offering additional support for its consumer and small business clients in response to the coronavirus, where clients can request funds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees through deposit accounts. Many customers can also request to defer any payments. Carnival Corp. (CCL) preliminary Q1 20 (USD): EPS 0.22 (exp. 0.27), revenue 4.8bln (exp. 4.66bln); coronavirus resulted in a net loss of 0.23/shr. Cintas Corporation (CTAS) Q3 20 (USD): Adj. EPS 2.16 (exp. 2.02), revenue 1.81bln (exp. 1.8bln), gross margin 45.5% (exp. 45.7%, prev. 44.9% Y/Y); announced it is not providing guidance for Q4 20 and it is suspending FY20 guidance due to uncertainty surrounding the coronavirus. Coty, Inc (COTY) provided an update on the current situation: Expects Q3 20 revenue to fall approximately 20% like for like, with a meaningful impact on profit, it has also withdrawn FY20 guidance. It is recommending to the board that shareholders be given the option to receive up to 100% of their quarterly dividend in kind for the coming two quarters. Its largest shareholder JAB decided to fully repay the loan it used to finance the tender offer in 2019. It is taking initiatives to manufacture hand sanitizer. Notes activations on Amazon have seen US sales nearly double in recent weeks, as well as launching the Kylie skin-care Europe in upcoming weeks; it is also preparing for increased demand post coronavirus. Danaher Corp. (DHR) announced the US FTC is on board with the acquisition of General Electric’s (GE) Life Sciences Biopharma Business. The closing of the deal is still subject to customary closing conditions as announced in the agreement, but DHR expects the deal to close on March 31st, 2020. Ford Motor (F) announced it has plans to suspend production in Argentina and Brazil starting next week due to the coronavirus. Kohl's Corp. (KSS) announced it is to close its stores nationwide through to at least April 1st, although customers will still be able to shop on its App. It also withdrew guidance for Q1 and FY20. Mylan N.V. (MYL) announced it is increasing production of its malaria drug for potential use to combat the coronavirus. Occidental Petroleum (OXY) is reportedly planning on naming its former CEO Stephen Chazen as its new chairman as it tries to improve amid weak demand and activism from Carl Icahn, according to WSJ citing people familiar with the matter. Sysco Corp. (SYY) announced it will donate 2.5mln meals over the next four weeks as part of its response strategy to help against COVID-19. Elsewhere, it has withdrawn its three-year plan guidance due to the impact from the coronavirus. Tiffany & Co. (TIF) Q4 19 (USD): Adj. EPS 1.80 (exp. 1.77), revenue 1.4bln (exp. 1.36bln); SSS +3%, SSS Ex-Hong Kong +5%, Gross Margin 63.3% (Prev. Y/Y 63.8%). Announced it will not be issuing FY20 guidance due to the pending merger with LVMH
Other
Crowdstrike (CRWD) Q4 19 (USD): Adj. EPS -0.02 (exp. -0.08), Revenue 152mln (exp. 137mln); FY21 Adj. EPS view -0.14 to -0.10 (exp. -0.18), revenue view 723-733mln (exp. 685mln) Samsung (SSNLF) has reportedly been hit hard by Vietnam’s travel restrictions from South Korea, fueling concerns its Galaxy Note smartphones will fall behind schedule in its largest manufacturing hub outside South Korea Teva (TEVA) announced it will be donating over 6mln doses of hydroxychloroquine sulfate tablets across the US to meet the urgent demand for the medicine as an investigational target to treat the coronavirus.
Additional US Equity Stories
Of note for casino names (MGM, CZR, WYNN, MLCO); Macau has halved its 2020 gaming revenue forecast due to the coronavirus and predicts a 56% fall from previous year to USD 16bln. US Steel (X) Q1 20 (USD): Adj. EPS view -0.80 (exp. -0.84), EBITDA 30mln. Coca Cola (KO) does not expect to meet its FY20 guidance, although does not foresee any near-term interruptions to its concentrate or beverage-based production. Meanwhile, it had its PT lowered at Deutsche Bank to USD 53/shr from USD 64/shr, although the desk reiterated its long-term buy rating. Ross Stores (ROST) announced it is to temporarilty close all of its stores throughout the US due to the coronavirus. Dollar Tree (DLTR) announced it is hiring 25,000 associates (both full and part time) to help across its stores in the US. Synaptics Inc. (SYNA) downgraded to Underweight from Neutral at JP Morgan Colgate Palmolive (CL) upgraded to Buy from Neutral at BofA Accenture (CAN) upgraded to Buy from Neutral at MoffettNathansonMonster Beverage
As requested, I will provide DD for NAT, DHT Holdings and MGM based on votes from my previous thread. I'll start with the tankers. (Let me note that I do not expect the general market trend to be positive for the next few weeks) Preface: Positive Virus news is generally bad for Tanker company share prices. NAT Current share price: $6.12 EPS Q1 2019: $0.04 EPS Q1 2020 Estimate: $0.26 Earnings: 5/18 (Per NAT website, Thanks u/Nice_Block) NAT operates Suezmax size tankers, the next step down from VLCC, and daily prices for Suezmax's are considerably less than VLCC. Current spot price is up 141% at $3.92 bpd from March of 2019 to March of 2020. I think that this earnings estimate is roughly accurate, but suezmax vessels have more room for positive price movement as more and more storage is filled to capacity. Suezmax ships allow producers more maneuverability and fluidity to store their oil, as such, turnover rates are higher than VLCC vessels. Revenues at current prices indicate an earnings estimate closer to $0.36. This is the high end of earnings estimates. Additionally, demand for oil consumption is not likely to improve soon. If anything, a slow reopening of states without ports will not affect tanker company bottom lines and will extend the operating duration of oil producers in the permian. Keep in mind, if oil consumption does not increase, wells will either shut down, or more likely, prices will go negative again. This may have some effect on spot price for tanker transports. That said, spot prices are not likely to diminish significantly in the near future. As a bonus, NAT recently (like yesterdayish) approved a buyback program to take advantage of increased revenues. This is the best news for NAT holders at this time. Their true intentions will be reflected in the earnings call. Price Target: $8 in the short term. If quarantine continues through June with no oil production cuts, I would expect at $10+ is possible, but unlikely. Historical action levels: https://imgur.com/a/dzsAZop One week chart showing some consolidation for a potential breakout: https://imgur.com/a/10DZWE7 Note - I suggested this as a bullish play last weekend, and as such my $8 price target was hit on Tuesday. This ship may have already sailed. Pun intended. I would find another trade. Recommendation: If you are dead set on an NAT play, shares at a reduced price through earnings, or options with expiry longer than 45 days out purchased next week. DHT Holdings Current share price: 7.10 EPS Q1 2019: $0.13 EPS Q1 2020 Estimate: $0.57 Earnings: 5/5 DHT operates operates exclusively VLCC tankers, of which the majority are on spot price rental. Current spot price for VLCC tankers up to 180k/day, up from an average of 19k/day this time last year. This is an over 9x increase. NAT is also currently operating more tankers on spot price rental, increasing volume under spot price contract over last year. They currently have 23 of 27 operating on spot pricing. Historical action levels: https://imgur.com/a/X3W3kD4 One week chart showing downward channel (Im not sure this trend is completed yet) before potential breakout: https://imgur.com/a/CYCaYcv Recommendation: I think the resistance levels for DHT are more relevant than those of NAT, and are also more realistic to be beaten. Calls mid week for EOW earnings at least 2 weeks out. General market sentiment is important for this trade. MGM Current share price: 15.01 Summary of MGM's plans to reopen casinos: https://www.usatoday.com/story/travel/destinations/2020/04/30/mgm-plans-reopen-las-vegas-bellagio-new-york-new-york/3061417001/ I would expect the mayor of Las Vegas to attempt to reopen the tourism to the city along with President Trump's guidance. If they are able, they will reopen soon. They likely will not have large scale shows or concert events to draw in customers, but gambling will be open to some extent. I do not expect casinos to see a large influx of patrons, and this will end up being a net negative for them in the coming months as their expenses will increase more than revenues. They may even potentially have to re-close if Covid testing reveals an uptick in cases in the Las Vegas area. That said, their saving grace is Macau, where a significantly large portion of their income is generated. China expects tourism to Macau to increase, but I would take that with a grain of salt. Given MGM's recent meteoric rise to nearly $18 per share, I think they fall into the sentiment of the rest of the market and will suffer in the coming month. I expect the share price will visit mid-april prices of $13, or potentially lower following a general trend with SPY. Luckily, If you see these prices, I consider MGM a very long term and stable play. They have enough cash on hand to last an entire year with no revenue; a situation that is uncommon at this time. In general, event or discretionary based spending, hospitality and travel will be the last to recover, but this is a commonly assessed sentiment. Historical action levels: MGM was not surprisingly rejected by the historical support level of $17.50 this week https://imgur.com/a/aoRNvk8 5 day chart does not provide any major price movement indication. Recommendation: Sell shares, do nothing until share prices revisit mid-April levels. As always, feel free to comment and tell me why I'm wrong. EDIT - I accidentally switched which size tanker each company uses, it has been corrected - Shoutout u/kindlyblacksmith
Everything I knew about conducting good DD tossed out the window in one earnings report. Im done for now until the market becomes rational again. Trying to justify these price movements is giving me daily migraines, I need a break from this. If anyone still wants to play this stock here's everything that was just COMPLETELY IGNORED in its earnings report yesterday.
43% Decline in revenue
Net loss of over 400 million Q1, -3.54 eps which was -237% below estimated -1.05 eps
Suspended their 5% dividend
Issued $600 million in new 2025 bonds at an 8% yield towards the end of Q1
Still have 2.9 b in cash, equivalents, and restricted cash (bullish, if they are able to reduce cash burn)
Will continue paying their U.S employees salary + benefits through May 15th (I really respect this, but it will result in higher cash burn through Q2)
Q2 Estimate is -1.14 eps, 1.1 B in Revenue. Yeah you heard that right. They will miraculously increase rev and EPS during a historically bad quarter. I mean they've missed earnings 4 times in a row, for sure they won't miss again. /s
Some other financials to consider
Debt to equity ratio of 6
During 2019 traded at an average PE of 70 - for comparison, LVS trades at PE of 11, MGM is at 3
Paying 130 mill per quarter in interest on debt, this will increase slightly with newly issued notes
Assets are depreciating at an average rate of 140 mill per quarter
Where the fuck are S&P and Moodys? It's unclear when WYNN will turn a profit again, are leverage by a multiple of 6, and are issuing 5y bonds at an 8% yield. Credit agencies - DO YOUR FUCKING JOB. Last rating was in Sep from Moodys, where they state
The positive rating outlook reflects Moody's expectation that Boston Encore Harbor, which officially opened June 23, 2019 will ramp successfully during the next 6-12 month period. The positive rating outlook also considers Moody's favorable positive long-term revenue and earnings prospects for the company's Macau, China and Las Vegas Strip, Nevada casino resort assets.
Guess what. None of these locations make money anymore. They probably won't turn a profit for the rest of the year. Why are agencies holding back on downgrading this piece of shit. This stock is up 45% in April. They released most of the info in this post yesterday AH. Stock is up 1% as Im typing this. My puts are toast, probably holding until exp in Sep in case the market decides to suddenly wake the fuck up.
To start, I’m a bored SE on a Friday so you’ll probably want to inverse all the plays I talk about here for max profit. Also, while I don’t think the Coronavirus is a threat to any of us, it’s still worth discussing the economic impact. First, the stocks most dependent on China: https://www.cnbc.com/2019/05/06/here-are-the-companies-wall-street-is-worried-most-about-if-a-full-blown-trade-war-breaks-out.html https://finance.yahoo.com/news/big-stocks-exposure-china-185734394.html The yahoo link is a little old but use the info as you wish. WYNN reported earnings today and they missed, also reported they’re losing 2-2.5 million US dollars a day. Their Macau casinos will remain shut for 2 weeks minimum. The semiconductors are all way up on the list as well, and are suffering as most of China’s manufacturing has remained shut down (80% of it). Apple supplier Foxconn also delayed the opening of production in Shenzhen, told employees not to return, and lowered its 2020 outlook due to drop in manufacturing. Apple has further delayed the reopening of its retail stores in China. All of these companies (Semis, Apple, Nike, etc) not only rely on China for revenue/sales, but also manufacturing. Most of the semis released earnings recently, prior to any realizing the virus could have a large effect on revenue and supply. I’ll be playing $MRVL earnings for early March, and watching the casinos (WYNN, MGM) into next earnings. If they pop up a bit in the coming weeks I’ll grab some puts for mid May/June because their quarters are going to be poor. Same goes for the other semis with large China exposure. I also expect a SPY pull back just due to the size of the Chinese economy and the length to which it’s been mostly shut down. Additionally, the virus seems to be spreading at a continuous pace with no signs of slowing yet (within China). They can pump a few billion into the market, but that doesn’t come close to making up for the lost revenues and manufacturing from the second largest economy.
As you may have heard Macau shut down all casinos for 2 weeks. 70% of WYNN revenue comes out of Macau. Prior to this, Macau government tourism office reported a 75% decrease in mainland tourists for the first 4 days of the Lunar New Year compared to 2019. Mainland tourists made up 70% of visitors in 2019, and I’d have to assume there’s been massive drops in international tourists as well since many airlines have cancelled all flights or cut back on flights to China. Their earnings are Thursday after hours. These events won’t affect this quarter, but Will have a huge impact on outlook. Today the stock is up 4.5%.
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.
Restrictions for tourists have been lifted in Macau - casino promotions are becoming more expensive.
China has opened borders with Macau, and a sharp jump in the value of securities is recorded on the Hong Kong stock exchange. Positions of Galaxy Casino S.A. rose 10%, Las Vegas Sands Corp subsidiary Sands China recorded an 8.9% gain, and Wynne Macau Casino shares climbed a record 16% since 2011. On July 14, the government of Gundong Province decided to resume the route to the enclave. At the same time, the exchange recorded increased investor activity in the Macau gambling market. Experts from the JP Morgan Chase and Co financial holding predict that casino revenues will grow by 20% in the near future. 25% compared to the same period last year. The decision of the authorities to change the mandatory two-week quarantine for tourists who enter the country was particularly welcomed. Anyone who arrives is still required to pass a virus test immediately upon arrival. Recall that the gambling sector revenues in June amounted to 89.7 million dollars, which is 97% less than the figures recorded in 2019. Before the spread of the pandemic, more than 23 million tourists visited Macau a year. Due to restrictions, only 4,537 visitors were recorded last month. have already estimated the loss from the forced shutdown of all entertainment establishments at $ 14.5 billion. www.aussiecasino24.com https://preview.redd.it/0t30yqy5q0c51.png?width=1084&format=png&auto=webp&s=cd7dda127ff0e605504a17ad5272d6f0522d08f7
Last month, Macau casinos earned about $ 90 million. The indicator is 97% less than the same period last year. Gross industry revenue from January to June of this year amounted to $ 4.2 billion. Restrictions on tourist trips due to quarantine have not yet been lifted. Therefore, Macau continues to be called a ghost city. $ 89.7 million in June casino revenue was recognized as the lowest point of monthly decline in profitability of the Special Administrative Region since the start of the pandemic. Experts call the month the period of greatest decline in industry history, as well as the ninth month in a row, when Macau recorded a decline in profitability. In the same month of 2019, six licensed casino operators earned about $ 3 billion. Macau's total gross income last year was $ 18.7 billion, which means that the pandemic cost the region $ 14.5 billion. The casino accounts for about 90% of all tax revenues in the region. According to general indicators, the economy of the enclave fell by 48.7% in the first quarter of this year. https://preview.redd.it/lhl86ftwht951.jpg?width=500&format=pjpg&auto=webp&s=795d94735aa0a32164d0b3ac912e528e877ee54e Tommy Xie, an economist at China Banking Corp., suggests a possible bounce back for the gambling region in the event restrictions are lifted. Once they are lifted, tourism related sectors in Hong Kong and Macau will quickly restore visitors flow and income. But neither of the two cities is in a hurry risk their tourism activities amid fears of a second wave. Read more at www.aussiecasino24.com
Global stocks are surging on news that the US President Trump has asked US trade officials to begin drafting a trade agreement with China
US Stocks
Global stocks are surging to end the week on hopes that US – China trade tensions are thawing
US index futures are point to a jump in US stocks on the NY open with Dow Jones minis +1.20%, S&P500 minis +0.88% and Nasdaq 100 minis +0.18%
According to Bloomberg News, US President Trump has instructed US trade officials to begin drafting a potential trade agreement following a phone call between US President Donald Trump and Chinese President Xi Jinping
Change in US Nonfarm Payrolls for October will be released later this morning at 8:30am
Disappointing new iPhone sales for Apple (AAPL) may put a cap on gains in the tech indices this morning – there may be an opportunity to buy QQQ this morning if there is a disconnect between the benchmark tech ETF and other major US stocks ETFs like SPY and IWM
The VIX is little changed this morning and is currently at 18.65 after closing at 19.34 yesterday
FXI December 21 OTM Calls, SPY November 2 OTM Puts, EEM December 21 OTM Calls & Puts, and HYG November 16 & January 2019 OTM Puts are the most actively traded options contracts in the US pre-market
US 10-Year Treasury Bonds are lower with yields up 3.24 basis points to 3.1627%
The US Treasury 2s-10s Spread has widened 0.61 basis points to 0.29%
WTI Crude is currently down -2.48% to USD$63.69/bbl with the Brent-WTI spread up USD$2.76 to USD$8.58/bbl
Gold is currently little changed 0.17% to USD$1235.48/oz
Stocks Trending in the News
Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.
Alibaba Group Holding Limited (BABA) shares are trading higher after reporting earnings that largely beat analyst expectations. Alibaba delivers FY2Q2019 adjusted EPS of USD$1.40/share, beating consensus estimates of USD$1.06/share by 31%. Alibaba’s top-line revenue fell just short of analyst forecasts with FY2Q2019 revenue of USD$12.40bn while consensus forecasts called for USD$12.45bn. Alibaba management also pulled-back FY2019 revenue growth guidance by between 4% to 6%. Trump comments on a potential China-US trade resolution has put a further bid into Chinese stocks. Alibaba is rated “Neutral” in our China All-Cap Global Top Stock Ideas.
Apple (AAPL) reported 3Q results that beat expectations but guidance that disappointed. Following the disappointing guidance, Apple declined more that 5%. Apple reported 4Q revenue of USD$62.9 billion while 61.44 billion was expected. Apple’s 3Q EPS of USD$2.91 beat USD$2.78 expected. Apple sold 46.9mn iPhones, 48.4mn was expected. Apple 4Q outlook, however, has come at the low end of expectations. Apple expects 4Q sales of iPhones, which included the key holiday season, to be 46.9mn units while the market is expecting 48.4mn. Notably Apple announced that in the future it will not report individual sales figures on iPhones, iPads and iMac sales. Apple is rated “Attractive” in both our US Large-Cap and US Information Technology Global Top Stock Ideas.
Caesars Entertainment (CZR) reported an unexpected profit of 14 cents per share. Caesars Entertainment was expected to report a 1 cent per share loss. Caesars Entertainment reported revenue of USD$2.19 billion, in line with USD$2.21 billion expected. Adjusted ebitdar was USD$600mn. Caesars Entertainment is rated “Unattractive” in both our US Large-Cap and US Consumer Discretionary Global Top Stock ideas.
CBS Corp. (CBS) reported 3Q profit of USD$1.24 excluding some items versus USD$1.22 expected. CSB saw a 19% jump in tv-show licensing and as sales at its entertainment unit. CBS expects a surge in ad sales in the next quarter with up to USD$250mn in additional ad sales. CBS is rated is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock ideas.
Kraft Heinz (KHC) reported 3Q adjusted EPS that missed estimates. Kraft Heinz reported adjusted EPS of 78 cents while 81 cents was consensus. Kraft Heinz net sales came at USD$6.38 billion, consensus was USD$6.31 billion. Kraft Heinz saw higher costs weigh in results. Kraft Heinz is rated is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Staples Global Top Stock ideas.
Mahindra & Mahindra (MM IN) reported a 17% increase in tractor sales for October. Mahindra & Mahindra reported 47,376 units sold versus 39.516 a year ago. Exports were 2% of sales. Mahindra & Mahindra said demand is strong as festival season approaches. Mahindra & Mahindra is rated “Attractive” in our India All-Cap Global Top Stock Ideas.
MGM China (2282 HK) surged on news Macau casino revenue rose 2.6%. Total revenue hit a record USD$3.38 billion and the sector is reacting positively. MGM China is rated “Neutral” in our china All-Cap Global Top Stock ideas.
Mitsubishi Corp (8058 JP) increased net income guidance to 640 billion yen but still comes blow average consensus of 654 billion yen. Mitsubishi Corp booked a one-time charge of 55 billion yen for losses related to Chiyoda Corp. Mitsubishi Corp expects strong growth from its energy business. Mitsubishi Corp is rated “Unattractive” in our Japan Large-cap Global Top Stock Ideas.
Rosneft (ROSN RS) may invite ExxonMobil (XOM) to participate in Far East project called Eastern Petrochemical according to a report in the local Russian press. The report outlines a number of options, one of which is to offer ExxonMobil over 50% of the project, having ExxonMobil control, to avoid US sanctions. Blomberg reports Russian officials mentioned in October that the 2 companies were talking. ExxonMobil is rated “Neutral” in our US Large-Cap Global Top Stock Ideas, Rosneft is rated “Top Buy” in our European SMID-Cap Global Top Stock Ideas.
Starbucks (SBUX) posted results that beat sales expectations in the US. Starbucks sales in the Americas rose 4% versus 2.8% consensus. Starbucks saw 1% growth in China. Starbucks reported 4Q EPS of 62 cents while 60 cents was consensus. Starbucks is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock ideas.
European Stocks
European stocks are advancing this AM and poised to close the week with the biggest weekly advance since December 2016
The Euro Stoxx 600 is currently up +1.04%, the FTSE 100 is higher by +0.75%, the DAX has advanced +1.46%, and the CAC 40 has risen +1.3%
News that trade tensions between China and the US may be thawing is putting a bid into export-sensitive stocks
Eurozone manufacturing PMI dropped to 52.0 for the month of October (final amount)
Italian manufacturing shrank for most of October, the greatest negative move in 4 years
Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 5.59x
Automobiles & Parts (+3.51%), Basic Resources (+2.91%), and Technology (+2.05%) stocks are the top performers in the Euro Stoxx 600 today
Food & Beverage (-0.07%), Health Care (-0.06%), and Utilities (+0.11%) stocks are the worst performers in the Euro Stoxx 600 today
77 stocks in the Euro Stoxx 600 are at 4-week highs while 8 stocks are at 4-week lows
6 stocks in the Euro Stoxx 600 are overbought while 16 stocks are oversold according to the 16-day RSI Measure
VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 18.05 after closing at 19 yesterday
EUR€ is currently up +0.316% against the USD$ to 1.1444
GBP£ is currently little changed against the USD$ at 1.3029
CHF is currently up +0.471% against the USD$ to 1.0026
German 10-Year Bunds are lower with yields up 3.3 basis points to 0.432%
UK 10-Year GILTs are lower with yields up 3.3 basis points to 1.488%
Asian Stocks
Asian stocks shot up overnight following news that US President Donald Trump has asked US trade officials to draft a potential trade agreement
The Nikkei 225 finished up +2.56%, the Hang Seng ended up +4.21%, the Hang Seng China Enterprise up +3.97%, and the CSI 300 was +3.56%
The 4%+ jump in the Hang Seng is the biggest one day for the index since CY2015
Investor sentiment for Japanese stocks finished positive with the advance/decline ratio for the Nikkei 225 closing at 2.95x
10 stocks in the Nikkei 225 hit 4-week highs while 29 stocks reached 4-week lows
0 stocks in the Nikkei 225 closed overbought while 22 stocks closed oversold according to the 16-day RSI Measure
6 stocks in the Hang Seng hit 4-week highs while 1 stocks reached 4-week lows
0 stocks in the Hang Seng closed overbought while 2 stocks closed oversold according to the 16-day RSI Measure
Japan 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.129%
JGBs 2s-10s Spread has widened 1.1 basis points to 0.26%
JPY¥ is currently little changed against the USD$ at 112.85
It's a new month for Wall Street, but so far it appears it will begin the same way the old one ended — with losses. The Dow has now fallen for six consecutive weeks for the first time in eight years, while the S&P 500 and Nasdaq have posted four straight weekly declines, as ongoing tariff tensions with China and now Mexico as well as U.S. economic uncertainty loom. (CNBC)
Market drop in May felt serious, but it is normal for stocks (CNBC)
The Dow's Friday close was its lowest since Jan. 29, while the S&P 500 and Nasdaq closed at their lowest since March 8. And although the Nasdaq is still up more than 12% for the year, it is moving closer to correction with a nearly 9% decline from its May 3 record closing high. (CNBC)
Goldman Sachs (GS) sees increased risks of escalations of U.S. trade disputeswith China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports. There is now a 70% chance of Trump imposing 5% duties on Mexican goods and a 50% chance that goes to 10%. (CNBC)
US-China trade deal isn't likely at the G-20 summit this month, JP Morgan and Morgan Stanley say (CNBC)
Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war (CNBC)
Top officials from the U.S. and Mexico are set to begin talks today over tariffs and border safety. "Mexico is sending a big delegation to talk about the Border," the president tweeted. "Problem is, they've been 'talking' for 25 years. We want action, not talk." (AP)
On the economic calendar, at 10 a.m. ET, both the May ISM manufacturing index and April construction spending are out. Some of the nation's automakers issue May sales today, although Ford (F) and GM (GM) only report on a quarterly basis. There are no major earnings this morning. Box (BOX) releases its quarterly number after today's closing bell.
President Donald Trump arrived for his first state visit to Britain today. Cracks are starting to appear in the transatlantic relationship, with political analysts concerned that his "off-the-cuff" and "impulsive" leadership style could make matters worse over the coming days. (CNBC)
Trump calls London Mayor Sadiq Khan a 'stone cold loser' (CNBC)
Everything you need to know about Trump's state visit (CNBC)
Trump tweeted that White House Council of Economic Advisers Chairman Kevin Hassett will "shortly" leave his post, but did not provide a reason. It's unclear who's set to takeover, in a time of drama between the U.S., China and Mexico. (Reuters)
Secretary of State Mike Pompeo said the White House's Mideast peace plan is possibly "unexecutable" and might not "gain traction," according to an audio recording of the private meeting obtained by The Washington Post.
Trump administration says it will negotiate with Iran with 'no preconditions'(NY Times)
More than 300 Boeing (BA) 737 jets, including the Max, may have faulty wing parts that don't meet strength and durability standards, the FAA said, following a joint investigation with the aircraft manufacturer. The agency plans to order airlines to remove and replace the parts if their aircraft are affected. (CNBC)
Alphabet's (GOOGL) Google unit is the subject of an upcoming antitrust probeby the Justice Department, according to multiple reports. The probe will focus on Google's search and other businesses. (CNBC)
Apple (AAPL) is expected to launch the latest version of iOS, its software for the iPhone and iPad, today at its annual Worldwide Developers Conference.The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don't expect this year to be any different. (CNBC)
Facebook (FB) has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
SoftBank's bid to raise a $100 billion fund is off to a rocky start, the Wall Street Journal reports. Some of the world's biggest money managers plan to make limited or no contributions to the Japanese technology giant.
Fiat Chrysler (FCAU) is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Goldman Sachs (GS) is buying Capital Vision Services, manager of the MyEyeDr optometry practices, from a private equity firm and a Canadian pension fund for $2.7 billion, including debt, according to the Wall Street Journal.
Apple – Apple holds its Worldwide Developers Conference Monday and is reportedly set to announce the end of its iTunes store. Bloomberg reports that iTunes functions will be divided among three newly developed applications.
Alphabet – Alphabet’s Google unit is the subject of an upcoming antitrust probe by the Justice Department, according to multiple reports. The probe will focus on Google’s search and other businesses.
Cypress Semiconductor – The chipmaker will be bought by Germany’s Infineon for $23.85 per share in cash, a 34 percent premium over Friday’s close. The deal is valued at $10.1 billion including assumed debt.
Humana – In an SEC filing, Humana said it did not intend to make a proposal to combine with health insurer Centene as an alternative to Centene’s planned acquisition of WellCare Health Plans. Humana said this statement was a one-time exception to its policy of not commenting on market rumors.
Goldman Sachs – Goldman is buying Capital Vision Services – manager of the MyEyeDr optometry practices – from a private equity firm and a Canadian pension fund. Goldman did not reveal financial details but the Wall Street Journal reports that the deal is worth $2.7 billion.
Blackstone Group – Blackstone is buying industrial warehouse assets from Singapore logistics provider GLP For $18.7 billion, in what Blackstone said is the largest-ever private real estate transaction.
Boeing - Some of Boeing’s 737 MAX jets may have faulty parts, according to the FAA. Boeing said it has identified 20 jets that most likely to have faulty parts and plans to check another 159 for the same parts.
Facebook – Facebook has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
Fiat Chrysler – Fiat Chrysler is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Merck, AstraZeneca – The drug makers reported upbeat study results involving their Lynparza drug. The treatment successfully stalled the advance of pancreatic cancer in certain patients.
Wynn Resorts, Las Vegas Sands – These and other casino operators in Macau may see their stocks benefit after gaming revenue in Macau hit a five month high in May.
Waste Management – Waste Management was upgraded to “outperform” from “sector perform” at RBC Capital, which cited the company’s unique positioning within its sector.
Salesforce.com – J.P. Morgan Securities removed the stock from its “Analyst Focus List”, based on current valuation following a 2½ year gain of 121 percent.
It's a new month for Wall Street, but so far it appears it will begin the same way the old one ended — with losses. The Dow has now fallen for six consecutive weeks for the first time in eight years, while the S&P 500 and Nasdaq have posted four straight weekly declines, as ongoing tariff tensions with China and now Mexico as well as U.S. economic uncertainty loom. (CNBC)
Market drop in May felt serious, but it is normal for stocks (CNBC)
The Dow's Friday close was its lowest since Jan. 29, while the S&P 500 and Nasdaq closed at their lowest since March 8. And although the Nasdaq is still up more than 12% for the year, it is moving closer to correction with a nearly 9% decline from its May 3 record closing high. (CNBC)
Goldman Sachs (GS) sees increased risks of escalations of U.S. trade disputeswith China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports. There is now a 70% chance of Trump imposing 5% duties on Mexican goods and a 50% chance that goes to 10%. (CNBC)
US-China trade deal isn't likely at the G-20 summit this month, JP Morgan and Morgan Stanley say (CNBC)
Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war (CNBC)
Top officials from the U.S. and Mexico are set to begin talks today over tariffs and border safety. "Mexico is sending a big delegation to talk about the Border," the president tweeted. "Problem is, they've been 'talking' for 25 years. We want action, not talk." (AP)
On the economic calendar, at 10 a.m. ET, both the May ISM manufacturing index and April construction spending are out. Some of the nation's automakers issue May sales today, although Ford (F) and GM (GM) only report on a quarterly basis. There are no major earnings this morning. Box (BOX) releases its quarterly number after today's closing bell.
President Donald Trump arrived for his first state visit to Britain today. Cracks are starting to appear in the transatlantic relationship, with political analysts concerned that his "off-the-cuff" and "impulsive" leadership style could make matters worse over the coming days. (CNBC)
Trump calls London Mayor Sadiq Khan a 'stone cold loser' (CNBC)
Everything you need to know about Trump's state visit (CNBC)
Trump tweeted that White House Council of Economic Advisers Chairman Kevin Hassett will "shortly" leave his post, but did not provide a reason. It's unclear who's set to takeover, in a time of drama between the U.S., China and Mexico. (Reuters)
Secretary of State Mike Pompeo said the White House's Mideast peace plan is possibly "unexecutable" and might not "gain traction," according to an audio recording of the private meeting obtained by The Washington Post.
Trump administration says it will negotiate with Iran with 'no preconditions'(NY Times)
More than 300 Boeing (BA) 737 jets, including the Max, may have faulty wing parts that don't meet strength and durability standards, the FAA said, following a joint investigation with the aircraft manufacturer. The agency plans to order airlines to remove and replace the parts if their aircraft are affected. (CNBC)
Alphabet's (GOOGL) Google unit is the subject of an upcoming antitrust probeby the Justice Department, according to multiple reports. The probe will focus on Google's search and other businesses. (CNBC)
Apple (AAPL) is expected to launch the latest version of iOS, its software for the iPhone and iPad, today at its annual Worldwide Developers Conference.The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don't expect this year to be any different. (CNBC)
Facebook (FB) has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
SoftBank's bid to raise a $100 billion fund is off to a rocky start, the Wall Street Journal reports. Some of the world's biggest money managers plan to make limited or no contributions to the Japanese technology giant.
Fiat Chrysler (FCAU) is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Goldman Sachs (GS) is buying Capital Vision Services, manager of the MyEyeDr optometry practices, from a private equity firm and a Canadian pension fund for $2.7 billion, including debt, according to the Wall Street Journal.
Apple – Apple holds its Worldwide Developers Conference Monday and is reportedly set to announce the end of its iTunes store. Bloomberg reports that iTunes functions will be divided among three newly developed applications.
Alphabet – Alphabet’s Google unit is the subject of an upcoming antitrust probe by the Justice Department, according to multiple reports. The probe will focus on Google’s search and other businesses.
Cypress Semiconductor – The chipmaker will be bought by Germany’s Infineon for $23.85 per share in cash, a 34 percent premium over Friday’s close. The deal is valued at $10.1 billion including assumed debt.
Humana – In an SEC filing, Humana said it did not intend to make a proposal to combine with health insurer Centene as an alternative to Centene’s planned acquisition of WellCare Health Plans. Humana said this statement was a one-time exception to its policy of not commenting on market rumors.
Goldman Sachs – Goldman is buying Capital Vision Services – manager of the MyEyeDr optometry practices – from a private equity firm and a Canadian pension fund. Goldman did not reveal financial details but the Wall Street Journal reports that the deal is worth $2.7 billion.
Blackstone Group – Blackstone is buying industrial warehouse assets from Singapore logistics provider GLP For $18.7 billion, in what Blackstone said is the largest-ever private real estate transaction.
Boeing - Some of Boeing’s 737 MAX jets may have faulty parts, according to the FAA. Boeing said it has identified 20 jets that most likely to have faulty parts and plans to check another 159 for the same parts.
Facebook – Facebook has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
Fiat Chrysler – Fiat Chrysler is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Merck, AstraZeneca – The drug makers reported upbeat study results involving their Lynparza drug. The treatment successfully stalled the advance of pancreatic cancer in certain patients.
Wynn Resorts, Las Vegas Sands – These and other casino operators in Macau may see their stocks benefit after gaming revenue in Macau hit a five month high in May.
Waste Management – Waste Management was upgraded to “outperform” from “sector perform” at RBC Capital, which cited the company’s unique positioning within its sector.
Salesforce.com – J.P. Morgan Securities removed the stock from its “Analyst Focus List”, based on current valuation following a 2½ year gain of 121 percent.
It's a new month for Wall Street, but so far it appears it will begin the same way the old one ended — with losses. The Dow has now fallen for six consecutive weeks for the first time in eight years, while the S&P 500 and Nasdaq have posted four straight weekly declines, as ongoing tariff tensions with China and now Mexico as well as U.S. economic uncertainty loom. (CNBC)
Market drop in May felt serious, but it is normal for stocks (CNBC)
The Dow's Friday close was its lowest since Jan. 29, while the S&P 500 and Nasdaq closed at their lowest since March 8. And although the Nasdaq is still up more than 12% for the year, it is moving closer to correction with a nearly 9% decline from its May 3 record closing high. (CNBC)
Goldman Sachs (GS) sees increased risks of escalations of U.S. trade disputeswith China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports. There is now a 70% chance of Trump imposing 5% duties on Mexican goods and a 50% chance that goes to 10%. (CNBC)
US-China trade deal isn't likely at the G-20 summit this month, JP Morgan and Morgan Stanley say (CNBC)
Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war (CNBC)
Top officials from the U.S. and Mexico are set to begin talks today over tariffs and border safety. "Mexico is sending a big delegation to talk about the Border," the president tweeted. "Problem is, they've been 'talking' for 25 years. We want action, not talk." (AP)
On the economic calendar, at 10 a.m. ET, both the May ISM manufacturing index and April construction spending are out. Some of the nation's automakers issue May sales today, although Ford (F) and GM (GM) only report on a quarterly basis. There are no major earnings this morning. Box (BOX) releases its quarterly number after today's closing bell.
President Donald Trump arrived for his first state visit to Britain today. Cracks are starting to appear in the transatlantic relationship, with political analysts concerned that his "off-the-cuff" and "impulsive" leadership style could make matters worse over the coming days. (CNBC)
Trump calls London Mayor Sadiq Khan a 'stone cold loser' (CNBC)
Everything you need to know about Trump's state visit (CNBC)
Trump tweeted that White House Council of Economic Advisers Chairman Kevin Hassett will "shortly" leave his post, but did not provide a reason. It's unclear who's set to takeover, in a time of drama between the U.S., China and Mexico. (Reuters)
Secretary of State Mike Pompeo said the White House's Mideast peace plan is possibly "unexecutable" and might not "gain traction," according to an audio recording of the private meeting obtained by The Washington Post.
Trump administration says it will negotiate with Iran with 'no preconditions'(NY Times)
More than 300 Boeing (BA) 737 jets, including the Max, may have faulty wing parts that don't meet strength and durability standards, the FAA said, following a joint investigation with the aircraft manufacturer. The agency plans to order airlines to remove and replace the parts if their aircraft are affected. (CNBC)
Alphabet's (GOOGL) Google unit is the subject of an upcoming antitrust probeby the Justice Department, according to multiple reports. The probe will focus on Google's search and other businesses. (CNBC)
Apple (AAPL) is expected to launch the latest version of iOS, its software for the iPhone and iPad, today at its annual Worldwide Developers Conference.The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don't expect this year to be any different. (CNBC)
Facebook (FB) has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
SoftBank's bid to raise a $100 billion fund is off to a rocky start, the Wall Street Journal reports. Some of the world's biggest money managers plan to make limited or no contributions to the Japanese technology giant.
Fiat Chrysler (FCAU) is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Goldman Sachs (GS) is buying Capital Vision Services, manager of the MyEyeDr optometry practices, from a private equity firm and a Canadian pension fund for $2.7 billion, including debt, according to the Wall Street Journal.
Apple – Apple holds its Worldwide Developers Conference Monday and is reportedly set to announce the end of its iTunes store. Bloomberg reports that iTunes functions will be divided among three newly developed applications.
Alphabet – Alphabet’s Google unit is the subject of an upcoming antitrust probe by the Justice Department, according to multiple reports. The probe will focus on Google’s search and other businesses.
Cypress Semiconductor – The chipmaker will be bought by Germany’s Infineon for $23.85 per share in cash, a 34 percent premium over Friday’s close. The deal is valued at $10.1 billion including assumed debt.
Humana – In an SEC filing, Humana said it did not intend to make a proposal to combine with health insurer Centene as an alternative to Centene’s planned acquisition of WellCare Health Plans. Humana said this statement was a one-time exception to its policy of not commenting on market rumors.
Goldman Sachs – Goldman is buying Capital Vision Services – manager of the MyEyeDr optometry practices – from a private equity firm and a Canadian pension fund. Goldman did not reveal financial details but the Wall Street Journal reports that the deal is worth $2.7 billion.
Blackstone Group – Blackstone is buying industrial warehouse assets from Singapore logistics provider GLP For $18.7 billion, in what Blackstone said is the largest-ever private real estate transaction.
Boeing - Some of Boeing’s 737 MAX jets may have faulty parts, according to the FAA. Boeing said it has identified 20 jets that most likely to have faulty parts and plans to check another 159 for the same parts.
Facebook – Facebook has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
Fiat Chrysler – Fiat Chrysler is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Merck, AstraZeneca – The drug makers reported upbeat study results involving their Lynparza drug. The treatment successfully stalled the advance of pancreatic cancer in certain patients.
Wynn Resorts, Las Vegas Sands – These and other casino operators in Macau may see their stocks benefit after gaming revenue in Macau hit a five month high in May.
Waste Management – Waste Management was upgraded to “outperform” from “sector perform” at RBC Capital, which cited the company’s unique positioning within its sector.
Salesforce.com – J.P. Morgan Securities removed the stock from its “Analyst Focus List”, based on current valuation following a 2½ year gain of 121 percent.
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 Monday, June 3rd, 2019! :)
U.S. stock futures were pointing to a higher "quadruple witching"Friday open on Wall Street, with investors welcoming positive signs in U.S. trade talks with China. The Dow, S&P 500 and Nasdaq were tracking for a positive week. (CNBC)
The U.S. and China are making "concrete progress" on the text of their trade agreement, Chinese state media reported Friday. President Donald Trump said the U.S. will probably know in the next three or four weeks about a possible deal with China. (South China Morning Post & CNBC)
The New York Fed's Empire State manufacturing index is out at 8:30 a.m. EDT. The Federal Reserve releases February industrial production. The University of Michigan releases its preliminary March consumer sentiment index and the government issues its January JOLTS, job opportunities and labor turnover, report. (CNBC)
Forty-nine people were killed today when at least one shooter opened fire at two mosques in Christchurch, New Zealand. Authorities charged one man in his late 20s with murder. New Zealand Prime Minister Jacinda Ardern calls the terrorist attacks "one of New Zealand's darkest days." (CNBC)
Gunman streamed what appeared to be helmet camera video on Facebook (NY Times)
Microsoft (MSFT) denied any connection with a Chinese facial recognition app that rights groups claim is being used by Beijing to track minority Muslims in China. The app, called SenseNets, sells facial recognition and crowd analysis technology designed to detect unusual behavior. (CNBC)
Facebook (FB) announced the departure of Chief Product Officer Chris Cox and WhatsApp division head Chris Daniels. Cox did not explicitly mention CEO Mark Zuckerberg's shift in focus to private messaging. (CNBC)
Apple (AAPL) refuted Spotify's (SPOT) complaint to European regulators, which claims the App Store creates unfair competition, saying the music streaming rival's goal is to "make more money off others' work." Apple said Spotify is seeking all the benefits of a free app, without being free. (CNBC)
Apple released its first commercial about privacy: Watch it here(CNBC)
Tesla (TSLA) unveiled its Model Y crossover SUV, with CEO Elon Musk saying last night that deliveries would begin in the fall of 2020 for configurations between $47,000 and $60,000. The base $39,000 Model Y won't be ready until spring of 2021. (CNBC)
The U.S. Securities and Exchange Commission is suing German automaker Volkswagen and ex-CEO Martin Winterkorn, alleging in a court filing that they "perpetrated a massive fraud" and repeatedly lied to U.S. investors in connection with the so-called dieselgate scandal. (CNBC)
Uber is planning to kick off its initial public offering in April, putting it close on the heels of its smaller rival Lyft. Next month, the ride-hailing company plans to launch its investor roadshow. Uber and Lyft are joining a number of expected tech IPOs, including Slack, Pinterest and Palantir. (Reuters)
Closing pop-up stores, pushing the grocery business, and focusing on advertising all will help Amazon (AMZN) boost profits, KeyBanc analysts said as they boosted the online retailer's price target to $2,100 per share, nearly 25 percent higher than Thursday's close. (CNBC)
Facebook — Facebook announced the departure of Chief Product Officer Chris Cox and WhatsApp division head Chris Daniels. Cox said a shift in Facebook's focus would benefit from new leadership, although he did not explicitly mention CEO Mark Zuckerberg's move to emphasize private messaging.
Oracle — Oracle reported adjusted quarterly profit of 87 cents per share, 3 cents a share above estimates. Revenue also beat Wall Street forecasts and the business software company forecast current-quarter revenue below estimates, citing the strengthening dollar.
Adobe Systems — Adobe beat estimates by 9 cents a share, with adjusted quarterly earnings of $1.71 per share. The software provider's revenue also topped the Street, however Adobe issued lower-than-expected current-quarter guidance.
Newell Brands — CEO Michael Polk will retire at the end of the second quarter after serving in that role since 2011. During Polk's tenure, the household goods company had been accused by activist investors Starboard Value and Carl Icahn of missteps, and eventually agreeing to give them board seats and accelerate a turnaround plan.
Amazon.com — In contrast to BMO's move, Amazon was upgraded to "overweight" from "sector weight" at KeyBanc, which pointed to Amazon's moves to improve profitability at its core retail operation.
AT&T — Raymond James upgraded AT&T to "outperform" from "market perform," citing the prospect of improved earnings growth and the delivering of AT&T's balance sheet.
Jabil — Jabil came in 3 cents a share above estimates, with adjusted quarterly profit of 64 cents per share. The electronics manufacturer's revenue was essentially in line with expectations.
Ulta Beauty — Ulta reported quarterly profit of $3.61 per share, 5 cents a share above estimates. The cosmetics retailer's revenue was slightly above analysts' forecasts. Comparable sales jumped 9.4 percent on an increase in customer traffic.
Broadcom — Broadcom exceeded analysts' forecasts by 32 cents a share, with adjusted quarterly profit of $5.55 per share. The chipmaker's revenue came in below estimates, however, amid a slowdown in its China business.
Apple — Apple responded to Spotify Technology's European Union complaint that it unfairly limits rivals to its own streaming music service, Apple Music. Apple said it had approved nearly 200 updates to Spotify's app, and only requested changes when Spotify tried to sidestep platform rules.
Rent-A-Center — Rent-A-Center was within its rights to abandon a merger deal with private-equity firm Vintage Capital in 2018, according to a ruling by a Delaware state court. The rent-to-own company also says Vintage owes it a $126.5 million termination fee, but that issue has not been decided yet by the court.
Zumiez —The action sports retailer earned $1.18 per share for its latest quarter, 7 cents a share above estimates. Revenue came in below analysts' forecasts and Zumiez forecast a current-quarter loss of 7 to 13 cents per share, compared with a consensus estimate of a 7 cents a share loss.
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's 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 Friday, March 15th, 2019! :)
This hot piece of garbage might be ready to get some relief, in my opinion. Having fallen from the 140s to 108 on Friday, this stock has taken a well-deserved beating (given their exposure to Macau and protests going on in nearby HK - among other things). But the Massachusetts Gaming Commission should be coming out with revenue statistics this week on the 15th (if last month is any indication), which will show full-month results for WYNN's newly-opened Encore Boston Harbor property. In the last report (https://massgaming.com/wp-content/uploads/Revenue-Encore-6-2019.pdf), only one week of data was available (because the Casino opened at the end of June). On slots alone, there was 93.5 million of coin in with a 9.75% hold. Will be interesting to see what comes out this month.
'Problem size?' Jeju casino enlargement 'hot issue' https://preview.redd.it/cj67rhcqdey31.jpg?width=560&format=pjpg&auto=webp&s=2d7869e695c894d1b92947d025bce670bb619cb8 Large-scale and complex resorts have become a hot issue in the Jeju casino industry centered on small businesses. According to Jeju Island on the 12th, there are 8 casinos for foreigners in Tokyo, half of which is 16 in Jeju. Jeju foreign casino sales climbed to W11.7bn in 2011, W143.8bn in 2012, W216.9bn in 2013, and W2248bn in 2014, and declined to W29.5bn in 2015, W1760bn in 2016, and W177.7bn in 2017. The MERS outbreak in 2015 and Sadd's deployment in 2017 were the main reasons behind the decline in sales. Then, the casino industry in Tokyo, which suffered a deficit in 2018, was shaken. Landing Casino, a Chinese-based capital, Ramjeong Jeju Development Co., Ltd., relocated the casino at the Hyatt Hotel in Jungmun, Seogwipo, to the complex resort Shinhwa World, expanding the area seven times from 803㎡ to 5581㎡. Since the opening of the Landing Casino, casino sales in Tokyo jumped to W511.2bn last year. The industry estimates that Landing Casino recorded sales of KRW 370 billion in the first half of last year alone. The annual number of casino visitors in Tokyo, which was 200,000, rose to 370,000 last year. Jeju Tourism Promotion Fund, which collects some casino sales, also rose to W47.9bn, well above last year's W13.4bn. 검증 사이트 ◇ "Composite resort is big"… Downtown Casino Concerns The casino enlargement issue is expected to heat up ahead of the opening of the Dream Tower Complex Resort, a high-rise building (5 stories below ground and 38 stories above ground) that Lotte Tourism Development is building in Nohyeong-dong, Jeju. Casino experts say that not only casinos, but also complex resorts for accommodation, food, drinks, conventions, and shopping can be found worldwide. Kim Sang-hyuk, professor of tourism management at Gachon University, presented the successful cases of Macau and Singapore at the 2019 Jeju International Casino Policy Forum at the Ramada Hotel in Jeju City. Is shifting from negative perceptions such as gambling to tourism and leisure, including travel and luxury hotels. ” Lotte Tourism Development acquired Paradise Jeju, which was operated by Lotte Hotel in July last year, for 15 billion won. Lotte Tourism Development plans to move the casino here once the Dream Tower is completed. In addition to relocating the site, the area will be increased by four times (1200㎡ → 4800㎡). Dream Tower, which is scheduled to be completed next month and to be completed by March 2020, is expected to begin administrative procedures for casino relocation early next year. Unlike Shinhwa World Casino, which was the outskirts, Dream Tower Casino is located in Nohyeong-dong, the downtown of Jeju. There are many residential areas as well as primary and secondary schools. This is why mixed eyes are coming out. At the time of the landing casino, it was virtually a new license, and it was the first large casino in the province. Recently, opinions were divided within the council, with the proposal of a partial revision of the Ordinance on Jeju Island Casino Business Management and Supervision, which blocks casinos from becoming larger. However, the agenda is in the process of disposal. ◇ The success of the mixed resort Singapore The casino policy of Singapore, one of the success cases of the casino complex resort, has many implications for Jeju, which is facing the era of large-scale expansion. According to a report by the Metropolitan Council for Culture, Sports, and Sports in August, the Singapore government decided to invest 7.6 trillion won in the expansion of two complex resorts this year. Singapore's additional investment has nothing to do with accelerating competition, such as promoting complex resorts in other Asian countries such as Japan. It is pointed out that if Jeju is to enlarge casinos, it must clearly set its own competitiveness and policy direction. Singapore recognizes the business feasibility of the complex resort, and promotes the supervision system, prevention of side effects, and welfare of residents. For example, casino entry fees and taxes are increased, as well as the proceeds from the admission fees, which are used for public interest activities including the prevention and healing of gambling. Unlike Jeju, which allowed taxi casino full-page ads, Singapore also bans external advertising. In terms of tax revenue, Singapore's tax rate is 22% in Singapore and 9.54% in Korea. Singapore collects only W15.5bn in annual casino permit fees, but not Jeju. 10% tourism promotion fund and corporate tax. In addition to the Casino Regulatory Authority, which also acts as Singapore's casino supervisor, it has set up a separate administrative agency in charge of welfare and medical services to increase casino tax revenues and reform the healthcare system. The necessity of strengthening the management system such as the casino supervisory board was also raised. Jeju Casino's Casino Policy Division has a total of 16 people and the Casino Supervisory Board has a total of 9 people. The Supervisory Commission points out that the level of advisory authority of the Governor is related to casino policy, and thus, the need for status and empowerment is required. The Singapore Casino Regulatory Commission consists of 170 employees and 15 board members. In addition to monitoring and researching casino operations, he also has the authority to audit audits, criminal investigations and various records related to casinos.
Gaming operator Sands China indicated today that it recorded some US$1.06 billion in profits in the first half of this year, reporting a 9% year-on-year increase. Sands China (1928.HK), the owner and operator of integrated resorts, retail malls and casinos, is planning to renovate and rebrand the 1,200-room Holiday Inn at Sands Cotai Central in Macau as The Londoner, a higher-end 600-suite hotel, in line with brands like The Venetian and The Parisian. This will be central to a larger expansion plan costing over USD 2 billion. The new development features a replica of the Big Ben. Analysts view this positively. The upgrade is important as some Sands properties are aging. Sands have also been more successful with city-branded properties. The upgrade will also draw in a more premium segment of the market, attracting higher-end gamblers and thus enhancing gaming revenues. Sands China has profit margins above industry averages and is in good shape to fund the project. [Special Delivery]:Could This Conglomerate Offer You A Good Opportunity Sands believe the opening of the Hong Kong-Zhuhai-Macau Bridge and the expected increase in traffic will contribute positively to the business. Casinos are becoming a more competitive business in the region, with countries including Japan, Vietnam, South Korea, and Cambodia all seeking to gain market share. Nevertheless, Sands recognise such threats, which is why they have been serious in the non-gaming businesses. The same cannot be said about some of its competitors. To provide some context, over a quarter of Sands’ global revenue is from non-gaming sources, including retail property, hotels, conferences and exhibitions. With Sands, investors can expect to be dealt a good hand.
Futures were lower this morning, signaling a possible end to three-week win streaks for the S&P 500 and Nasdaq. The S&P is down 0.2% for the week, while the Nasdaq is up 0.2%. The Dow is slightly higher for the week but could lose that gain at the open. (CNBC) Blackstone (BX) shares surged 9.5% in pre-market trading after the investment firm announced it will become a corporation in July, shifting from its current status as a publicly-traded partnership. (CNBC)
Pinterest (PINS) begins trading today on the New York Stock Exchange after its initial public offering (IPO) priced at $19 per share, valuing the company at $10 billion. That was above the initially projected range of $15 to $17 per share. (CNBC)
Dow component Travelers (TRV) and Blackstone (BX) are among the companies reporting quarterly earnings this morning. Dow component American Express (AXP) and Intuitive Surgical (SRG) will report after today's closing bell. (CNBC)
On the data front, the government will issue March housing starts at 8:30 a.m. ET, with consensus forecasts calling for a 4.1 percent increase to an annual rate of 1.21 million units. Housing starts had fallen 8.7 percent in February. (CNBC)
Attorney General William Barr will discuss special counsel Robert Mueller's report today at a 9:30 a.m. ET press conference. Deputy Attorney General Rod Rosenstein will accompany him, according to NBC News.
The Mueller report is coming. Here's how we got here — and what's coming next (CNBC)
CNBC has learned Pete Buttigieg's presidential run has drawn the support of more than two dozen top Democratic fundraisers, including people who bundled big-dollar donations for Barack Obama and Hillary Clinton.
Facebook (FB) said last night it may have "unintentionally uploaded" the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. (CNBC)
Samsung's $1,980 Galaxy Fold phone is breaking for some users after a day or two of use. A review unit given to CNBC by Samsung is also completely unusable after just two days of use.
Samsung shares tumble amid concerns its foldable phones are breaking (CNBC)
Amazon (AMZN) is shutting down its domestic e-commerce marketplace business in China. It has faced stiff competition from Chinese e-commerce giants Alibaba and JD.com. It's also been less visible in terms of marketing. (CNBC)
It may be entering its middle age, but there appears to be plenty of life left in Ford's (F) 55-year-old Mustang "pony car." Ford upped the power on iconic Mustang muscle car with new performance package at the New York auto show. (CNBC)
Canopy Growth (CGC) is near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.
Some 60 doctors, pharmacists and other licensed medical professionals in five states are being charged in connection with illegally prescribing more than 32 million pain pills, in some cases for sexual favors, federal prosecutors said. (CNBC)
American Express — The financial services company earned an adjusted $2.01 per share for the first quarter, 2 cents a share above estimates. Revenue came in below Wall Street forecasts, however. American Express also reiterated its 2019 guidance.
Travelers — The insurance company reported adjusted quarterly profit of $2.83 per share, 9 cents a share above estimates. Revenue was slightly below forecasts. Travelers benefited from better underwriting results and lower catastrophe losses. The company also raised its dividend by 5 cents to 82 cents per share.
Honeywell — Honeywell earned $1.92 per share for the first quarter, compared to the consensus estimate of $1.83 a share. Revenue beat estimates as well, with Honeywell seeing strong demand for its aerospace products. The company also raised its full-year forecast.
Pinterest — Pinterest begins trading Thursday on the New York Stock Exchange after its initial public offering priced at $19 per share. That was above the initially projected range of $15 to $17 per share.
Las Vegas Sands — Las Vegas Sands reported adjusted quarterly profit of 91 cents per share, beating estimates by 4 cents a share. The casino operator's revenue came in above forecasts as well. The company's results were helped by strong growth in Macau, the world's largest gambling market.
Canopy Growth — Canpoy Growth s near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.
JPMorgan Chase — Chief Financial Officer Marianne Lake is leaving that job to lead the bank's consumer lending unit, while JPM's current card services CEO Jennifer Piepszak will step into the CFO role.
TSMC — The company formerly known as Taiwan Semiconductor reported its biggest profit decline in more than seven years during the first quarter. The world's largest contract chipmaker earned just under $2 billion, nearly 32% less than a year earlier.
Facebook — Facebook said it may have "unintentionally uploaded" email contacts of 1.5 million new users since May 2016. Facebook said the contacts were not shared with anyone and are being deleted, and affected users are being notified.
Tesla — Funds operated by T. Rowe Price slashed their holdings in Tesla during the first quarter, according to data from Refinitiv. The funds sold off 92% of their stock in the automaker during the quarter.
Pier 1 Imports — Pier 1 reported a bigger-than-expected loss during its fiscal fourth quarter, as well as lower than expected revenue and a 13.7 percent decline in same-store sales. Additionally, Chief Financial Officer Nancy Walsh is leaving the home furnishings retailer after being in that job for less than a year.
E*Trade Financial — E*Trade earned $1.09 per share for its latest quarter, beating the consensus estimate of 93 cents a share. The online brokerage also reported 135,000 new accounts during the quarter, a 41% jump in new account adds compared to the same quarter a year earlier.
Monthly Gross Revenue from Games of Fortune Back: Av. Praia Grande Ed. China Plaza 762-804, 21fl. Tel: (853) 2856 9262 Fax: (853) 2837 0296 Email: [email protected] ... Jan 01, 2020 Newsdesk Latest News, Macau, Top of the deck Macau’s casino gross gaming revenue (GGR) contracted 3.4 percent year-on-year in calendar year 2019. That is according to data released on Wednesday by the local regulator, the Gaming Inspection and Coordination Bureau, a body also known as DICJ. Analysts surveyed by Bloomberg forecast on average that Macau’s gaming revenue will swing from 14% growth in 2018 to a decline of 3% in 2019. They predict a mild improvement of 3% in 2020 on easy comparisons with this year’s low levels. A Bloomberg Intelligence index of Macau casino operators has dropped 20% from a peak in late April. It ... Gambling in Macao's casinos generated almost 36.7 billion U.S. dollars in 2019. Gambling in Macau - additional information Macau, along with Hong Kong, is one of two Special Administrative Regions... It is still below 2013’s revenue of 361 billion patacas. In 2014, 2015 and 2016, revenue declined 2.6%, 34.3% and 3.3%, respectively. The industry’s revenue grew 19% in 2017. Macau’s casino industry struggled after China introduced capital restrictions and carried out measures to combat corruption. 2019 will mark an end to Macau’s two-year casino rebound. GGR fell from $45 billion in 2013 to $27.9 billion in 2016 as a result of China cracking down on VIP junkets. Macau, located on the southern coast of China and a one-hour ferry ride from Hong Kong, is the world’s largest legal casino destination by revenue, bigger than Las Vegas. The city is home to 41 ... The institution cut its forecast for 2019 year-on-year performance in Macau casino gross gaming revenue (GGR) to -3 percent, from -1 percent year-on-year previously. For 2020, Morgan Stanley is currently anticipating 3 percent GGR expansion year-on-year, compared to its previous estimate of 8 percent growth. According to Macau Secretary for Economy and Finance Lei Wai Nong, mass market play generated gross gaming revenue (GGR) of $19.6 billion last year, which is 53.7 percent of the Chinese Special... Macau gaming revenue slipped for the third straight month, marking the worst annual decline since 2015 as the world’s largest gambling hub struggled to lure high rollers amid geopolitical ...
Looks like 'Lady Luck' is steering clear of Macau. Casino revenue in the gambling capital of the world plunged by nearly half last month, as fewer Chinese hi... Komm mit mir in die spannendsten Ecken der Tempel- und Casino-Stadt Macau. Japan: http://bit.ly/Japan-Vlog-1 Australien: http://bit.ly/AustraliYEAH-1 Letz... Let check all casino in Macau and see if they have low limit games About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators ... Rachel Joined me for another great visit to Macau, a place that is about to become the wealthiest place on earth! Senado Square, The Venetian Hotel, Cotai, C... Macau, einst eine vergessene portugiesische Kolonie, ist jetzt der zweitreichste Ort der Erde und die größte Casino Stadt der Welt. Eine gigantische Spieloth... Stay connected :) Connect me on instagrm - iampratikjainMy name is Pratik Jain and i am from Mumbai, India. I planned to travel world and upload amazing vlog... To see more 'Get Sidetracked' videos in Macau:#getsidetrackedmacau Published on Jan 13, 2019 the Macao Special Administrative Region of the People's Republic of China, is an autonomous territory on the western side of the Pearl River estuary in East Asia. Steve Bourie, from the American Casino Guide, visits casinos in Macau, China, also known as Macao. It is the gambling capital of Asia, as well as the gamblin...
