This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

7 Casino Stocks to Play

Stocks in this article: MPEL ASCA WYNN PENN BYD MGM LVS

5. Wynn Resorts (WYNN) owns and operates two destination casino resorts. It owns and operates Wynn Las Vegas in Las Vegas, Nevada, and Wynn Macau in the Macau Special Administrative Region of China (Macau).

Net revenue for the first quarter of 2011 increased 38.7% to $1.3 billion from $908.8 million in the year-ago quarter, following a 46.6% increase in revenue from Macau operations and 24% revenue from Las Vegas operations. On a segment basis, casino revenue soared 45.5% to $1 billion, rooms revenue spiked 24.2%, food and beverage revenue increased 15.3%, and entertainment, retail, and other revenue surged 19.4% year-over-year.

In terms of operating metrics, room occupancy for Las Vegas operations stood at 87.9% compared to 89.4% for the quarter ended March 31, 2010. Average daily rate increased to $240 from $203. For Macau, room occupancy was 88.6% from 90.7%, while average daily rate increased 8.9% to $307.

On a non-GAAP basis, net income stood at $173.4 million or $1.38 per share, compared to $33.8 million or 27 cents per share during the first quarter of 2010. Recently, analysts at Brean Murray initiated coverage on the stock with a buy rating and a price target of $175.

Of the 28 analysts covering the stock, 32% recommend a buy and 64% rate a hold. JP Morgan recently raised its price target for the stock to $174 from the earlier $158 indicating an 11% upside from current levels.

4 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs