Las Vegas Sands and Wynn Resorts Rise as Gambling Revenues in Nevada Surge 10 Percent in December
RDInvesting Provides Stock Research on Las Vegas Sands and Wynn Resorts
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 02/11/13 -- Shares of major casinos surged last week after reports showed gambling revenues in the state of Nevada posted a 10 percent gain in December and as New Jersey inched closer to legalizing online gambling. The Market Vectors Gaming ETF (BJK) posted a gain of 2.5 percent last Friday. Research Driven Investing examines investing opportunities in the Resorts & Casinos Industry and provides equity research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Ltd. (NASDAQ: WYNN).
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The Nevada Gaming Control Board reported that casinos won approximately $943 million in December, and as a result the state's share was $39 million, which was an increase of 23.5 percent when compared to a year ago. Statewide casino revenues totaled $10.86 billion, a year-over-year increase of 1.5 percent, and the third consecutive annual increase.
"We are slowly increasing revenues," said Michael Lawton, senior research analyst for the Nevada Gaming Control Board. "We are still 15.5 percent below the peak in 2007, but we are gradually moving in the right direction."
Research Driven Investing 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.
Among Las Vegas Sands' properties in the United States are two AAA Five Diamond luxury resorts on the Las Vegas Strip: The Venetian and The Palazzo Las Vegas. The company reported that net revenues for the full year 2012 increased 18.3 percent year-over-year to a record of $11.13 billion. The town of Alcorcon, Spain has been chosen as the site of the company's "EuroVegas" resort.
Wynn Resorts owns and operates Wynn Las Vegas, Encore and Wynn Macau. The company reported total revenues were $5,154.3 million for the full year 2012, a year-over-year decrease of 2.2 percent. The decrease in revenues was driven by a 3.2 percent decline from their operations in Macau, as their Vegas operations posted an increase of 0.4 percent.
Research Driven Investing has not been compensated by any of the above-mentioned publicly traded companies. Research Driven Investing 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: 11.02.2013 - 07:20 Uhr
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