DALLAS, Texas – Beacon Equity Research announces the release of Trade Alerts covering Resorts & Casino Stocks: Las Vegas Sands Corp. (NYSE: LVS), Ameristar Casinos Inc. (Nasdaq: ASCA), Boyd Gaming Corp. (NYSE: BYD), Melco Crown Entertainment Ltd. (Nasdaq: MPEL), Penn National Gaming Inc. (Nasdaq: PENN) and Wynn Resorts Ltd. (Nasdaq: WYNN).
In the Trade Alert, the author highlights Las Vegas Sands’ plans to cut 216 jobs and eliminate bonuses:
“Las Vegas Sands Corp. (LVS) shares fell 4.13% to $7.19 Thursday morning. Las Vegas Sands and its subsidiaries develop multi use integrated resorts worldwide. …The company recently said it plans to cut 216 full-time employees from its Las Vegas properties, and eliminate $6.5 million in management bonuses for 2008. … Las Vegas Sands also said it completed an offering of common stock, preferred stock and warrants that provided about $2.1 billion of additional capital. As a result, the number of outstanding shares more than doubled and shareholder value was significantly diluted.”
The Trade Alert author also featured Ameristar Casinos’ drop in third-quarter profit as revenue goes up 21%:
“Ameristar Casinos Inc. (ASCA) shares climbed 2.90% Thursday morning, trading at $9.57. Ameristar Casinos engages in the development, ownership and operation of casino entertainment facilities in the United States. It also offers slots, food, lodging, entertainment and other services. …The company recently reported its profit dropped 30% in the third quarter as it poured capital to rebrand its new East Chicago property and to back ballot initiatives in Missouri and Colorado. … For the third quarter, Ameristar Casinos, which owns Ameristar Casino St. Charles, posted net income of $14.3 million, or 25 cents per share on a diluted basis down from $20.0 million, or 34 cents per share, a year ago. Its revenue for the third quarter was $321 million, up 21% from $265 million a year earlier.”
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Jeff Bishop, (469)-252-3505