Fly News Breaks for March 18, 2015
WYNN, MGM, LVS
Mar 18, 2015 | 08:24 EDT
CLSA downgraded the Macau sector given disappointing run rates year-to-date and expectations for more negative newsflow. The firm said the anti-corruption campaign continues to pressure VIP and premium mass customer visits. CLSA now expects 2015 EBITDA growth of -26%, lowered its view of VIP growth to -32% from -14%, reduced mass growth to -17% from -2%, and now expects new Cotai projects ROIC to average only +18, down from +35% previously. As part of the sector view change, the firm downgraded Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN) to Outperform from Buy.
News For LVS;MGM;WYNN;LVS;MGM;WYNN From the Last 2 Days
LVS
Mar 18, 2024 | 10:15 EDT
Bearish flow noted in Las Vegas Sands with 3,077 puts trading, or 3x expected. Most active are 3/22 weekly 49.5 puts and 3/22 weekly 50 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 3.42, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 17th.