LVS - Macau Government Authority just now renewed LVS' license.
Updated
LVS - Macau Government Authority just now renewed LVS' license to operate- Giving the stock a minimum of $58 price to the Up side. I call this number not because it is fair value, no, but because it is the st number of channel upper boundary. I think LVS os now going back to $90 again or more.
I anticipate these next two years to be a stock rally for all markets. Why? The combinacion of democrats in the White House and Republicans in The House or Representatives historically bears fruit for equities and two arms of government keep each other in check, and industry finally can do better without their interference.
I anticipate these next two years to be a stock rally for all markets. Why? The combinacion of democrats in the White House and Republicans in The House or Representatives historically bears fruit for equities and two arms of government keep each other in check, and industry finally can do better without their interference.
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Additional comments. I would not be looking to liquidate at $58 LVS, I think this puppy will roll back over $90 - Again, running the numbers on LVS is super easy, take the calculator out, LVS is a cash cow now more than ever. Covid is going away. The volume will return, and LVS has not adjusted for inflationTrade active
Macau casino stocks rally after license renewal hurdle is clearedNov. 28, 2022 7:10 AM ETMGM Resorts International (MGM)LVS, WYNN, MLCO, SJMHF, GXYEFBy: Clark Schultz, SA News Editor2 Comments
Macau cityscape at night, all hotel and tower are colorful lighten up with blue sky, Macau, China.
greenleaf123
Macau casino stocks broke higher on Monday after the local government announced that it has tentatively renewed the casino licenses of MGM Resorts (NYSE:MGM), Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Resorts & Entertainment (MLCO), SJM Holdings (OTCPK:SJMHF) and Galaxy Entertainment (OTCPK:GXYEF).
While the next step involves the incumbent operators negotiating the finer details of the casino contracts, Jefferies expects this is only a formality with the new licenses signed by the end of the year and new contracts to begin on January 1.
Analyst David Katz said the development removes an overhang that the firm believes should have a positive impact on the group. "Remaining is the continued zero-tolerance COVID policy which leaves uncertainty in the timing and trajectory of the visitation and volume recovery as the driver of further upside in the estimates and the stocks," he warned. As it stands on November 28, visitors to Macau are still subject to quarantine and the risk of a lockdown if an outbreak occurs during a visit.
Also weighing in, Bank of America raised targets on Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN) on higher multiples with recovery potential offset by low visibility on geopolitics and the China/Macau COVID recovery.
Premarket movers in the U.S. included MGM +2.91%, LVS +3.71%, WYNN +5.45%, MLCO +6.07%. In Hong Kong trading, SJM Holdings and Galaxy Entertainment both rose more than 6%.
Now Read: Las Vegas revenue trends are solid with convention business bouncing back
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