Sterne Agee issues revamped casino earnings forecasts

2013-10-15

From：Macau Business

Sterne Agee has issued revised third-quarter earning forecasts for several casino operators with interests in Macau.

The United States brokerage said third-quarter adjusted EBITDA for Melco Crown Entertainment Ltd was raised to US$343.1 million (MOP2.7 billion), a year-on-year growth rate of 52 percent. Analyst David Bain said Melco Crown remains the brokerage’s top pick.

The brokerage also revised upwards its estimates for Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.

The firm says all earnings adjustments were Macau related.

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