Top Casino Companies Stock for this Year
By:NewsyStocks   Friday, July 22, 2021 9:08 AM

In the last few years, the casino industry has not done well. In 2008, revenue for the industry declined 4.6 percent, and in 2009, it fell by 5.7 percent to $30.7 billion, according to figures from the American Gaming Association. Nevada saw its gaming winnings in 2009 fall to $10.4 billion, down 10.4 percent compared with 2008 and representing the single largest drop since records began 55 years ago. Atlantic City's 11 casinos posted their lowest gambling revenue in over 10 years while New Jersey's casino revenue fell 8.5 percent in January from a year earlier.

However, in 2011, the trend seems to be changing, as casino operators reported profits during the second quarter of 2011. Here are the top 3 casino operators and there performance so far in 2011.

The company that tops the list with gains in its stock value is Melco Crown Entertainment Ltd. (Nasdaq: MPEL), which has a market capitalization of $7.99 billion, and its stock price is up 285.6 percent in the last year. The company reported earnings of $0.06 per share for the quarter ended March 2011 and is expected to report earnings of $0.10 per share for the quarter ended June 2011. The company is a developer, owner and, operator of casino gaming and entertainment resort facilities focused on the Macau market. Melco Crown Gaming is one of the six companies licensed, through concessions or sub-concessions, to operate casinos in Macau. Total value of its assets is about $2.5 billion, and it has a book value per share of $4.77. Liabilities are 48 percent of assets. The company has a P/E ratio of 877.6, and its price-to-profit ratio is 44, Price-to-profit signifies the amount an investor spends for $1 of next year's profit. The stock last traded at $15, up 0.60 percent on Wednesday.

Wynn Resorts Ltd. (Nasdaq: WYNN) has a market capitalization of $20.24 billion, and its stock price has gained 82.68 percent in the last year. Wynn Resorts is a developer, owner and operator of destination casino resorts. It owns and operates two destination casino resorts. In Las Vegas, Nevada, it owns and operates Wynn Las Vegas and Encore, which are on the most famous Las Vegas Strip. In Macau it owns and operates Wynn Macau and Encore at Wynn Macau. For the second quarter, the company's reported earnings tripled from $0.52 per share to $1.60 in the quarter, which ended June 2011. Revenue for the quarter also jumped 32.4 percent to $1.36 billion for the quarter. The company has annual sales of $4.9 billion and earnings of $3.29 per share. The stock's P/E ratio is 48.8 and its price of profit is estimated at 30. The last trading price of the stock was $160.18, down 1.29 percent.

Penn National Gaming Inc. (Nasdaq: PENN) has a market capitalization of $3.18 billion and its stock price increased by 77.9 percent in the last year. The company is a diversified, multi-jurisdictional owner and manager of gaming and pari-mutuel properties. The company is scheduled to report its second quarter financial results later today. Analysts expect earnings of $0.48 per share on revenue of $686 million. For the quarter ended March 2011, the reported EPS exceeded Wall Street's consensus estimate by 17.10 percent. The company has total assets of $1.8 billion, and its book value per share is $23.45, which means that the company has a P/B ratio of 1.8. Total liabilities of the company are 58 percent of total assets. The price of profit for the investors is 24. The stock last traded at $41.11, up 1.81 percent on Wednesday.

 


 

Sponsors

Advertisement


Advertisement