Positive Macau Numbers to Drive Melco Crown Entertainment and MGM Resorts This Earnings Season
Five Star Equities Provides Stock Research on Melco Crown Entertainment & MGM Resorts
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/19/12 -- Casino stocks have been on the upswing this week as positive news out of China helped drive shares of gaming companies with a heavy presence in Macau higher. China said its economy grew by 8.9 percent in the fourth quarter, which was slower than the previous quarter. Analysts, however, consider these levels "robust," the Associated Press reports. Five Star Equities examines the outlook for the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. (NASDAQ: MPEL) and MGM Resorts International (NYSE: MGM). Access to the full company reports can be found at:
According to data published by the Macau Gaming Inspection and Coordination Bureau (GICB), gross gaming and gambling revenues in Macau totalled 269.058 billion patacas (US$33.632 billion) in 2011. MacauHub.com reports that revenues in 2011 were an almost five-fold increase on revenues in 2006 (57.521 billion patacas). Revenues also jumped from 189.588 million patacas in 2010.
By the end of 2011, there were 34 casinos in Macau, 20 of which were owned by Sociedade de Jogos de Macau, three by Venetian Macau, five by Galaxy Casino, three by Melco/PBL Jogos (Macau) and one each by Wynn Resorts and MGM Grand Paradise.
Five Star Equities releases regular market updates on the Resorts & Casinos industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
A recent article from Forbes helps explain why Macau continues to grow at such a rapid pace. For example, Macau has initiated a series of initiatives to encourage visitors, Forbes reports. The tiny island investing in new transportation links to ease travel for Chinese visitors. Now, a new railway line connects Macau to Guangzhou in China and a new road bridge links it to Hong Kong.
With China's middle class continuing to expand, Forbes highlights an increase in disposable income in China's population, which is driving the growth of mass market in Macau.
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Datum: 19.01.2012 - 07:20 Uhr
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