Casino EntranceRevenue rose to $35 billion at the Chinese special administrative region of Macau in 2012, up 13.5% for the year after posting a record rise of nearly 20% in December. Predictions of a downturn due to tighter money transfers and visa restrictions did not materialize in 2012, but they continue to leave a cloud over the outlook for 2013.

Casino and resort stocks are taking the news well today. Las Vegas Sands Corp. (NYSE: LVS) is up about 5.6%, Wynn Resorts Ltd. (NASDAQ: WYNN) is up 5.5%, and Monarch Casino and Resort Inc. (NASDAQ: MCRI) is up 5.1%. Other gainers include MGM Resorts International Inc. (NYSE: MGM), up 4.9%; Isle of Capri Casinos (NASDAQ: ISLE), up 4.3%; and Nevada Gold & Casinos (NYSEMKT: UWN), up more than 9%. Interestingly enough, neither Isle of Capri nor Nevada Gold owns or operates properties in Macau.

Revenue growth at Macau is anticipated to be in the range of 5% to 10% in 2013 because the Chinese government likes the growth there and will be encouraging it with plans to enlarge the net it casts for non-gambling revenues.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Casinos & Hotels, China Tagged: featured, gambling revenues, ISLE, LVS, Macau, MCRI, MGM, UWN, WYNN

Increase your money and finance knowledge from home

Professional Vs Do it Yourself Investing

Should you get advice or DYI?

View Course »

Understanding Stock Market Indexes

What does it mean when people say "the market is up 2%"?

View Course »

Add a Comment

*0 / 3000 Character Maximum