Casino Operators Face Earnings Pressure as Macau Revenues Skyrocket
The Bedford Report Provides Equity Research on Las Vegas Sands and Wynn Resorts
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/19/11 -- It is now the heart of earnings season and investors are eagerly following results from the Resorts and Casinos Industry. No doubt there is pressure on companies with a heavy presence in Macau to put up strong numbers following positive growth forecasts from the American Gaming Association. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides stock analysis on Las Vegas Sands Corporation (NYSE: LVS) and Wynn Resorts Limited (NASDAQ: WYNN). Access to the full company reports can be found at:
The American Gaming Association (AGA) says that it expects the island of Macau to post 40 percent year-on-year growth in gross gaming revenues this year. AGA reports that Macau boasts the highest concentration of casinos anywhere in the world.
Gross gaming and gambling revenues in Macau totalled $15.515 billion in the first six months of 2011, representing a year-on-year rise of 44.6 percent, according to the Macau Gaming Inspection and Coordination Bureau.
The Bedford Report releases investment research on the Resorts and 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 analyst reports and industry newsletters.
Las Vegas Sands is set to report second quarter earnings next week. In the most recent quarter Las Vegas Sands set records for net revenue. Strong revenue growth and margin expansion in Macau, together with the continuing ramp of growth in all areas at Marina Bay Sands in Singapore contributed to a strong financial performance overall.
Yesterday Wynn Resorts said stronger gambling business in both Las Vegas and Asia helped more than double its second-quarter net income. On an adjusted basis, knocking out special charges, the company would have earned $1.60 a share, up from 52 cents. Revenue jumped to $1.37 billion from $1.03 billion
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Datum: 19.07.2011 - 12:16 Uhr
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