Sterne Agee raises Q3 estimates for Melco Crown, LVS, MGM and Wynn

Sterne Agee has raised its forecasts for third-quarter earnings before interest, tax, depreciation and amortization (Ebitda) for some of the biggest casino operators with business in Macau due to strong prospects in the territory. The firm now sees Q3 adjusted Ebitda at Melco Crown Entertainment at $343.1 million, 

up from $284.2 million previously and compared with the market consensus of $302.5 million. Sterne Agee says it’s most bullish on Melco Crown. It has raised its Ebitda forecast on Las Vegas Sands to $1.199 billion from $1.129 billion, topping the consensus for $1.157 billion, while it raises Wynn to $420.7 million from $412.7 million and vs. $406.9 million consensus. MGM forecasts rise to $506.5 million from $503.1 million and compare with the market consensus of $501.2 million. All adjustments are Macau related, it said.