Las Vegas Sands and Wynn Resorts Look to Gain as Macau's Gaming Revenues Rebound in August
The Paragon Report Provides Stock Research on Las Vegas Sands and Wynn Resorts
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/10/12 -- After growing just 1.5 percent in July, the slowest rate in three years, Macau reported gaming revenues in August increased by 5.5 percent. Total revenues of 26.1 billion patacas ($3.3 billion) in August were the second highest total ever seen by Macau casinos. The Market Vectors Gaming ETF (BJK) has rallied nearly 5 percent in the last month. The Paragon Report examines investing opportunities in the Resorts and Casinos Industry and provides equity research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN).
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Macau in recent years has emerged as the world's largest gambling center. Last year Macau's casino revenues soared 42 percent to $33.5 million, which was more than five times the revenue earned on the Las Vegas Strip. During the first eight months of the year revenues have increased 15 percent over 2011. Despite the current state of the global economy Stern Agee expects China's gambling mecca to continue to grow.
"We believe the (Chinese) government will continue to approve projects under its five-year plan, with local governments initiating multiyear investment projects to sustain and propel growth," Sterne Agee analyst David Bain said in the report.
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Sands China is the largest operator of integrated resorts in Macao. The company has recently announced September 20, 2012 as the opening day for the second phase of its Sands Cotai Central integrated resort. Shares of Las Vegas Sands have rallied nearly 10 percent in the last month.
Wynn Resorts owns and operates Wynn Las Vegas, Encore and Wynn Macau. The company reported net revenues from their Macau operations of $907.6 million, a 7.1 percent decrease from the $976.5 million generated in the second quarter of 2011.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 10.09.2012 - 06:20 Uhr
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