For Immediate Release

Chicago, IL – May 19, 2015 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Wynn Resorts Ltd. (WYNN),Pinnacle Entertainment Inc. (PNK),MGM Resorts International (MGM) and Iao Kun Group Holding Company Ltd. (IKGH).

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Here are highlights from Monday’s Analyst Blog:

Gaming Stock Roundup

The last week was a mixed bag for the gambling industry. Full House Resorts Inc. posted weak first quarter results. On the other hand, Wynn Resorts Ltd.’s (WYNN) largest individual shareholder reportedly lowered its stake in the company by 40% possibly as it has been posting sluggish results owing to the Macau slump. In fact, recently the company cut its dividend by 66.7%.

On a positive note, gaming companies like Pinnacle Entertainment Inc. (PNK) and MGM Resorts International (MGM) increased the value of their assets by adding new restaurants in their respective casinos and resorts amid the current challenging environment. Meanwhile, Iao Kun Group Holding Company Ltd. ( IKGH) was found expanding its portfolio in Australia in order to diversify its sources of revenue. (Read last development: Gambling Stock Round Up for May 11, 2015 )

Recap of the Week’s Important Stories:

1. Full House Resorts posted a loss of 9 cents in the first quarter of 2015 that compared unfavorably with the year-ago loss of 6 cents per share and the Zacks Consensus Estimate of a loss of 4 cents. The downside reflects a decline in revenues. This marked the second consecutive quarter of loss for the company.

Meanwhile, the company’s revenues of $29.1 million declined 4.2% year over year due to lower revenues at the Rising Star Casino Resort due to increased competition in Ohio and a decline in Northern Nevada revenues. Also, expiration of the tribal casino management contract in New Mexico in Sep 2014 led to the decline. Adjusted EBITDA was down 14.3% year over year to $2.1 million.

A major part of the new hotel at Silver Slipper Casino is scheduled to open on May 22 with the remainder of the rooms coming online in Jun 2015.

2. T. Rowe Price Group Inc., the largest individual shareholder in Wynn Resorts, has reportedly cut its stake in the casino company by almost 40%. T. Rowe Price Group Inc, a mutual fund investor, now holds 10.4 million shares, down from approximately 17.1 million shares it held up to Feb 13 this year as listed in Wynn Resorts’ proxy filing of Feb 27. Wynn Resorts has been posting sluggish results over the past few quarters due to the government-led crackdown on corruption in Macau.

3. Iao Kun Group Holding completed the purchase of all of the profit interests of Lou Kan Kuong who was acting as a junket operator of the Crown Perth Casino and the Crown Melbourne Casino Complex in Australia for a nominal value. Lou Kan Kuong, who is currently an officer of Iao Kun Group Holding, had entered into agreements to act as a junket operator for the casinos on behalf of the company in Apr 2015. The company believes that this step will allow it to establish its presence in Australia and diversify its revenue sources.

4. Pinnacle Entertainment recently opened the Stadium Sports Bar & Grill at Ameristar East Chicago. It offers more than the traditional sports bar cuisine. There is a supreme menu accompanied by house-made chorizo, beer cheese soup, and tater tots with cheddar lager sauce. With 20 draft and 50 craft beers, wines by the glass, and cocktails, Stadium Sports Bar will be an attraction for sports lovers. Ameristar Casino Hotel East Chicago has one of the largest selections of games in northwest Indiana and features 288-rooms, more than 1,700 slots, 70 table games, a dedicated baccarat room and a poker room.

5. In one other development, MGM Resorts announced that its Aria Resort & Casino will have a Carbone restaurant beginning Oct 2015, which will offer an Italian-American dining experience. While the menu will be very similar to Carbone New York, the design will be inspired by the history of Las Vegas and the Rat Pack era.

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WYNN RESRTS LTD (WYNN): Free Stock Analysis Report
 
PINNACLE ENTRTN (PNK): Free Stock Analysis Report
 
MGM RESORTS INT (MGM): Free Stock Analysis Report
 
IAO KUN GROUP (IKGH): Free Stock Analysis Report
 
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