Las Vegas Sands and Wynn Resorts Shares Surge as Macau's Gaming Revenues Hit a Record in December
Five Star Equities Provides Stock Research on Las Vegas Sands and Wynn Resorts
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/03/13 -- Shares of major casino stocks surged this week after a report from Macau regulators showed casino revenues in the Chinese gambling mecca hit a new record in December. The Market Vectors Gaming ETF (BJK) started the year with a 3.5 percent gain on Wednesday. Five Star Equities examines the outlook for companies 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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Macau's Gaming Inspection and Coordination Bureau reported that gambling revenue in Macau grew by 20 percent to a record of 28.2 billion patacas ($3.5 billion) in December, topping the previous record of 27.7 billion patacas which was set in October. For full year 2012, gambling revenues gained 13.5 percent to total 304 billion patacas ($38 billion), which was also a record.
"This is definitely better than our expectation, and much higher than the street estimates," said Kim Eng Securities HK Ltd. analysts, Jeremy Tan, "It's a combination of higher holiday footfall, higher win-rate, and a return to VIP market," he said.
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Through its majority-owned subsidiary Sands China Ltd., Las Vegas Sands owns a portfolio of properties on Macao's Cotai Strip, including The Venetian Macao, Four Seasons Hotel Macao, and Sands Cotai Central. The company's market share of gross gaming revenue in Macao reached 19.3% in the third quarter compared to 14.3% last year, reflecting market share growth of 35%.
Wynn Macau is a destination casino resort in the Macau Special Administrative Region of the People's Republic of China and currently features 600 deluxe hotel rooms and suites, and an approximately 222,000 square foot casino. In the third quarter of 2012, net revenues from Wynn's Macau operations were $910.5 million, a 4.3% decrease from the $951.4 million generated in the third quarter of 2011.
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Datum: 03.01.2013 - 13:20 Uhr
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