March 16, 2024 | Daily JAM, Mid Term |
As James Earl Jones told Kevin Costner in Field of Dreams, “Build it and they will come.” Of course, if they don’t come on schedule, you’ll wind up sitting on a mountain of debt. Which is the reason that Melco Resorts and Entertainment finished 2023 with total debt of $8.1 billion. Which, in turn, is why the stock traded at just $7.20 a share on Friday, March 15. And why it’s down 18% for 2024 to date, as of the March 15 close, and down 40.36% for the last 12 months. But I also see the potential for a 60% gain to fair value in these shares.
May 4, 2023 | Daily JAM, Jubak Picks, LVS, Videos |
Today’s Quick Pick is Las Vegas Sands Corp. (NYSE: LVS). Is Macau gaming the best way to play China? I would say yes. News out of China is that it’s clearly reaccelerating and will easily hit 5% economic growth in the current quarter. The economy is reopening and growth is up and Macau, as a gaming center, is benefitting in a pure Covid reopening story. Total gaming revenue in Macau was up 247% year over year in March and 450% in April. Normally I’d look at MGM International to play Macau, but their Las Vegas presence outweighs their China presence, and at this moment, I’m looking for something with less presence in Las Vegas. Although the name may suggest otherwise, Las Vegas Sands has a much bigger presence in China and is in the process of selling their Las Vegas assets in order to invest more in Singapore and Macau. This is a good place to play China gaming as the country accelerates and I’ll be adding it to my JubakPicks Portfolio with a target price of $70 a share.
August 1, 2022 | Daily JAM |
I ended my recent post “This looks like the Bear Market rally I’ve been waiting for” on my subscription JubakAM.com site by saying “Enjoy the ride but look to sell shares of companies that look most exposed to the return of recession/high interest rates/inflation worries. That post had been up for all of 18 minutes before I got the perfectly reasonable question “Like what?” And I promised an answer so here are my preliminary thoughts on what I’d look to sell in a Bear Market rally
March 13, 2022 | Daily JAM, MGM, Volatility |
The Major League Baseball lockout is over–and the baseball season will start next month roughly on schedule. And the NCAA Basketball Tournament–March Madness–begins next week.
Both pieces of news are GOOD news for sports betting stocks.
November 22, 2021 | Daily JAM, Stock Alerts |
Analysts watching game revenue in Macao’s casinos are seeing just a bit of improvement after operators were walloped by Pandemic shutdowns, border closings with Hong Kong, and government restrictions aimed at high-rollers. JPMorgan has forecast that 2022 gross gaming revenue in Macao will rise to just above 50% of the pre-pandemic level seen in 2019 as a result of 70% recovery in mass market gaming and travel and a 24% recovery in VIP revenue. That’s a very slight improvement from JPMorgan’s previous outlook. Investment house Jefferies has also become incrementally more positive on the Macao outlook. Analyst David Katz says the Macao market could be close to bottoming with current local Covid-19 infections in China falling to single-digits and a partial China-Hong Kong border opening possible before year-end. My preferred stock to play Macao is MGM Resorts International
March 15, 2021 | Daily JAM, Jubak Picks, MGM |
Shares of MGM Resorts International (MGM) are up 15.16% since I added them to my Jubak Picks Portfolio on February 11, 2021. I don’t think the gains are done for this casino and hotel stock. Today I’m raising my target price to $48 a share from the current $42
February 11, 2021 | Daily JAM, MGM, Millennial |
I’m taking advantage of today’s drop in shares of MGM Resorts International (MGM) after yesterday’s earnings report to add these shares to my new Millennial Portfolio. The stock dropped on bad pandemic performance from the company’s Las Vegas casinos and resorts and a slide in revenue from its Macao operations. But revenue from online betting soared. And that business is the future of MGM–and the reason that investors with long-time horizons would want to own this stock. (And it won’t hurt at all, when revenue picks up from Las Vegas operations once the pandemic is in the rear-view mirror.
June 15, 2018 | Daily JAM, MGM, Stock Alerts |
Shares of MGM Resorts International (MGM) peaked for 2018 (so far) at $38.03 on January 29, 2018 and since then the trend has been brutally downward. The stock's 50-day moving average broke below its 200-day moving average (a moment that technical analysts called the...
February 19, 2018 | Daily JAM, MGM, Stock Alerts |
Tomorrow's earnings report from MGM Resorts International (MGM) could be make or break for the call options that I hold on this stock in my Volatility Portfolio. The options have been all over the block in recent weeks from up 50% to down 30% on market volatility and...
January 30, 2018 | Daily JAM, Stock Alerts, TCEHY |
First, on January 15, China's Tencent Holdings (TCEHY) announced that it would partner with privately-owned Lego to develop a Lego streaming video zone for children on Tencent's video platform and create Lego-branded games for Tencent's gaming network. (Tencent is the...
January 2, 2018 | Daily JAM, Notes You Need |
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don’t justify a full post. I’ve decided to start compiling these notes here each day in a kind of running mini blog that I’m calling Notes You Need. A typical item resembles this from today: “10:40 a.m.: Ahead of earnings Barclays raised its target on U.S. Bancorp (USB) to $65 from $60. Stock was trading at $53.38 at the open. Before Christmas, December 17, to be precise UBS downgraded the bank stock to neutral from buy (while raising its target price to $60 from $58.) The downgrade reflects a shift to favor banks with a higher exposure to tax cuts in the recently passed tax bill.”
January 1, 2018 | Daily JAM |
Traders and investors will spend the first few days after the New Year’s holiday catching up on random news and getting ready for the start of earnings season.
