Gambling Stock Roundup: WYNN, MGM & Other Q1 Earnings In Focus; Macau Sales Rise In April

Last week was a big one for the gambling industry, as major casino operators reported their first-quarter 2017 earnings.

While players like Wynn Resorts Ltd. (WYNN – Free Report) , MGM Resorts International (MGM – Free Report) and Penn National Gaming Inc. (PENN – Free Report) reported better-than-expected results, Las Vegas Sands Corp. (LVS – Free Report) and Monarch Casino & Resort Inc. (MCRI – Free Report) posted mixed results.

Though Las Vegas Sands’ earnings beat the Zacks Consensus Estimate, revenues missed the mark. Meanwhile, Monarch Casino & Resort failed to beat bottom-line expectations while its top line surpassed.

On the other hand, Churchill Downs Inc. (CHDN – Free Report) lagged on both fronts.

Additionally, Macau’s gaming revenues rose for the ninth consecutive month in April. This signals that the casino hub is firmly on its path to recovery from the two-year slump stemming from China’s anti-graft corruption drive and slow economic growth.

Moreover, the Nevada Gaming Control Board announced an increase in revenues in the region in March.

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