Las Vegas Sands (NYSE: LVS ) is now in the market for a new auditor following its admission that PricewaterhouseCoopers will no longer fill that role. In a filing submitted to the Securities and Exchange Commission, Las Vegas Sands revealed that the accountancy firm has "declined to stand for re-election" in that capacity. The cooperation between the two companies will terminate immediately after the casino operator's latest set of quarterly financial statements is finalized.
Las Vegas Sands did not provide the reason for PricewaterhouseCoopers' resignation. The two companies had had a 25-year relationship, with the latter reaping around $5.5 million in fees from its client in 2011.
Hot Casino Companies To Invest In 2014: Wynn Resorts Limited(WYNN)
Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts. The company owns and operates Wynn Las Vegas casino resort in Las Vegas, which includes approximately 22 food and beverage outlets comprising 5 dining restaurants; 2 nightclubs; 1 spa and salon; 1 Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; meeting space; and foot retail promenade featuring boutiques. Wynn Las Vegas casino resort also features approximately 147 table games, 1 baccarat salon, private VIP gaming rooms, 1 poker room, 1,842 slot machines, and 1 race and sports book. It also owns and operates an Encore at Wynn Las Vegas resort, a destination casino resort located adjacent to Wynn Las Vegas that features a 2,034 all-suite hotel, as well as a casino with 95 table games, 1 sky casino, 1 baccarat salon, private VIP gaming rooms, and 778 slot machines. In addition, the company operates Wyn n Macau casino resort located in the Macau Special Administrative Region of the People?s Republic of China. Wynn Macau casino resort features approximately 595 hotel rooms and suites, 410 table games, 935 slot machines, 1 poker room, 1 sky casino, 6 restaurants, 1 spa and salon, lounges, meeting facilities, and retail space featuring boutiques. Further, it operates Encore at Wynn Macau resort located adjacent to Wynn Macau. Encore at Wynn Macau resort features approximately 410 luxury suites and 4 villas, as well as casino gaming space, including a sky casino consisting of 60 table games and 80 slot machines, 2 restaurants, 1 luxury spa, and retail space. The company was founded in 2002 and is based in Las Vegas, Nevada.
Advisors' Opinion:- [By Chris Hill and Bill Barker]
Shares of the casino and resort company have had a very good run lately, rising 12% in the last three months alone. While most people automatically picture the iconic Las Vegas strip when they think of casinos, Wynn Resorts (NASDAQ: WYNN ) actually makes the majority of its profits from its operations in Macau. With China's economy slowing down, how much will Wynn's bottom line be hurt? Motley Fool Asset Management analyst Bill Barker shares why investors focused on the long term have nothing to fear.
- [By Michael Vodicka]
But that got me thinking: Which companies from the S&P 500 are the most shareholder friendly, with the biggest dividend increases in the last 5 years? Here is a list of the top 5 companies from the last 5 years with the biggest dividend increases.
UnitedHealth Group (UNH) 152%Wynn Resorts Ltd. (WYNN) 137%Aetna, Inc. (AET) 136%Ensco Plc. (ESV) 121%Western Union (WU) 91%But from the group, there is one company that offers the most unique combination of growth and income. And even though shares are up a market-beating 43% on the year, there should be plenty more to come.
- [By Jon C. Ogg]
Wynn Resorts Ltd. (NASDAQ: WYNN) was downgraded to Neutral from Outperform, but the price target was raised to $160 from $149, at Credit Suisse.
Zoetis Inc. (NYSE: ZTS) was raised to Overweight from Equal Weight at Morgan Stanley.
- [By Kyle Spencer]
Unfortunately, the Chinese frozen food market is an oligopoly, which means there aren't U.S. listed stocks that stand to benefit at this point, apart from General Mills (GIS) subsidiary Wan Chai Ferry. On the other hand, there are plenty of short opportunities, including YUM brands (YUM), and Wynn Resorts (WYNN), despite the amusingly Panglossian report that RBC Capital released on Wynn Resorts Monday.
Hot Casino Companies To Invest In 2014: MGM Resorts International(MGM)
MGM Resorts International, through its subsidiaries, primarily owns and operates casino resorts in the United States. The company?s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. As of December 31, 2010, the company owned and operated 15 properties located in Nevada, Mississippi, and Michigan; and has 50% investments in 4 other casino resorts in Nevada, Illinois, and Macau. In addition, MGM Resorts International has an agreement with the Mashantucket Pequot Tribal Nation, which owns and operates a casino resort in Connecticut, to carry the ?MGM Grand? brand name. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was founded in 1986 and is based in Las Vegas, Nevada.
Advisors' Opinion:- [By Rich Smith]
On Friday, Amazon announced that its European LOVEFiLM subsidiary is teaming up with MGM (NYSE: MGM ) Television to bring the hit new History Channel television show VIKINGS to viewers in the U.K., and Germany as well. Beginning May 24, LOVEFiLM will be the only service offering streaming video of all nine episodes of Vikings' first season to viewers in the U.K. and Germany. (Season 2 is scheduled to arrive in 2014). Additionally, Amazon points out that it will be streaming the show through LOVEFiLM before Vikings even goes into broadcast in Europe.
- [By Matt Thalman]
In the following video, Fool contributor Matt Thalman discusses why he believes MGM Resorts' (NYSE: MGM ) recent move to partner with both Southwest Airlines (NYSE: LUV ) and Hyatt Hotels (NYSE: H ) will greatly benefit not only MGM but also its two new partners.
- [By Dan Caplinger]
On Thursday, MGM Resorts (NYSE: MGM ) will release its latest quarterly results. The key to making smart investment decisions on stocks reporting earnings is to anticipate how they'll do before they announce results, leaving you fully prepared to respond quickly to whatever inevitable surprises arise. That way, you'll be less likely to make an uninformed knee-jerk reaction to news that turns out to be exactly the wrong move.
- [By Rich Smith]
Vikings became a huge success for A&E when it began airing in the U.S. in the month preceding GoT's Season 3 premiere on HBO. On Friday, Amazon.com (NASDAQ: AMZN ) announced a deal in cooperation with MGM (NYSE: MGM ) Television to bring the series to the U.K. and Germany via Amazon's local streaming subsidiary LOVEFiLM.
Hot Bank Companies To Watch For 2014: Boyd Gaming Corporation(BYD)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States. As of December 31, 2011, the company owned and operated 1,042,787 square feet of casino space, containing approximately 25,973 slot machines, 655 table games, and 11,418 hotel rooms. It also owned and operated 16 gaming entertainment properties located in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey. In addition, the company owns and operates a pari-mutuel jai-alai facility located in Dania Beach, Florida, as well as a travel agency in Hawaii. Further, it holds a 50% controlling interest in the limited liability company that operates Borgata Hotel Casino and Spa in Atlantic City, New Jersey. Boyd Gaming Corporation was founded in 1988 and is headquartered in Las Vegas, Nevada.
Advisors' Opinion:- [By Travis Hoium]
Earnings from Boyd Gaming (NYSE: BYD ) surprised investors last week, but there's still a lot of fundamental weakness for the company. Revenue is declining across the country as more supply is added to the market, and the only way to grow is through acquisitions. The Fool's Erin Miller sat down with Travis Hoium to see how to play the gaming market now.�
- [By Dan Caplinger]
MGM has built a history of being the odd player out in many of the most lucrative opportunities in the gaming industry. In Macau, the company is stuck in the slower-growth area of the Asian gaming destination. In Las Vegas, the new CityCenter area in the mid-Strip has watered down MGM's opportunities and has created another potential barrier for patrons coming from the northern end of the Strip to its namesake MGM Grand property. And in New Jersey, where online gaming has boosted prospects for Caesars Entertainment (NASDAQ: CZR ) and Boyd Gaming (NYSE: BYD ) , MGM has no exposure.
- [By Roberto Pedone]
One gaming player that's rapidly moving within range of triggering a big breakout trade is Boyd Gaming (BYD), which owns and operates gaming entertainment facilities located in Nevada, Mississippi, Illinois, Louisiana and Indiana. This stock has been blazing a trail to the upside so far in 2013, with shares up sharply by 115%.
If you look at the chart for Boyd Gaming, you'll notice that this stock has been uptrending strong over the last month and change, with shares moving sharply higher from its low of $11.27 to its intraday high of $14.38 a share. During that move, shares of BYD have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of BYD into breakout territory above resistance at $13.79 a share, and it's quickly pushing the stock within range of another big breakout trade.
Traders should now look for long-biased trades in BYD if it manages to break out above its 52-week high at $14.50 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 2.34 million shares. If that breakout triggers soon, then BYD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $18 to $20 a share.
Traders can look to buy BYD off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $13 a share. One can also buy BYD off strength once it takes out $14.50 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.
- [By M. Joy, Hayes]
Industry trends
Other businesses in the industry also have copious related-party transactions. In particular, founder-led businesses Wynn Resorts (NASDAQ: WYNN ) and Boyd Gaming (NYSE: BYD ) �reported a large number of such transactions in their 2013 proxies, including employment of relatives, employee use of company services, and employee use of company-owned property. MGM Resorts International (NYSE: MGM ) , on the other hand, didn't have to report any related-party transactions in its 2013 proxy.
Hot Casino Companies To Invest In 2014: (XTRN)
Las Vegas Railway Express Inc. focuses to re-establish a conventional passenger train service between the Las Vegas and Los Angeles metropolitan areas. It plans to establish a ?Vegas-style? passenger train service. The company is based in Las Vegas, Nevada.
Hot Casino Companies To Invest In 2014: Pinnacle Entertainment Inc.(PNK)
Pinnacle Entertainment, Inc. owns, develops, and operates casinos, and related hospitality and entertainment facilities in the United States. It operates casinos, such as L'Auberge du Lac in Lake Charles, Louisiana; River City Casino and Lumiere Place in St. Louis, Missouri; Boomtown New Orleans in New Orleans, Louisiana; Belterra Casino Resort in Vevay, Indiana; Boomtown Bossier City in Bossier City, Louisiana; and Boomtown Reno in Reno, Nevada. The company also operates River Downs racetrack in southeast Cincinnati, Ohio. As of May 26, 2011, it operated seven casinos and one racetrack. The company was formerly known as Hollywood Park, Inc. and changed its name to Pinnacle Entertainment, Inc. in February 2000. Pinnacle Entertainment, Inc. was founded in 1935 and is based in Las Vegas, Nevada.
Advisors' Opinion:- [By Sean Williams]
Time to make the switch
If I could name a sector that I'd certainly tread lightly around considering that consumers are tightening their wallets, it would be the casino sector. Casino companies rely on loose wallets and vacations to drive profits. This is why I feel it could be the time to say goodbye to casino and race track operator Pinnacle Entertainment (NYSE: PNK ) near its 52-week high. - [By Dan Radovsky]
Pinnacle Entertainment (NYSE: PNK ) has reached an agreement in principle with the Bureau of Competition of the Federal Trade Commission that would allow the company to complete its proposed acquisition of Ameristar Casinos (NASDAQ: ASCA ) , Pinnacle announced today.
- [By Travis Hoium]
What: Shares of Ameristar Casinos (NASDAQ: ASCA ) and Pinnacle Entertainment (NYSE: PNK ) fell as much as 11% today after the government brought into question the merger of the two companies.
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