Macau casinos may face slump

Investor's Business Daily

Las Vegas Sands (LVS), MGM Resorts Int'l (MGM) and Wynn Resorts (WYNN) may see revenue at Macau casinos contract amid a summer slump after officials in nearby Hong Kong cut their '14 economic growth outlook to 2%-3% vs. a Feb. view for 3%-4%, citing weak consumer spending. Wells Fargo on Fri. cut its Sands stock price target to 80-85 from 90-100, and Wynn to 245-250 from 260-270. Sands shares fell 0.3% to 68.42. MGM fell 0.4% to 25.04.

View Comments (1)