Casino Gambling Web, Ltd.
Play Free Casino Games Now!
The Top Online Casino Gambling News Reporting Site Since 2002!

Las Vegas Gaming Companies Stock Rises To Start 2013

Las Vegas-based gaming companies may have their home offices and majority of their business interests in the US, but it is an International market that is driving the rise of stock prices. Wynn Resorts, Melco Crown, and Las Vegas Sands started 2013 off on a high note after stock prices rose on Wednesday.

With Wall Street bracing for an unsure result just a day after the fiscal cliff was avoided in the US, gaming groups had no idea what their stock would look like come the close of the trading day Wednesday. For the three companies with interests in Macau, the day was a successful one.

Las Vegas Sands saw the biggest increase in stock price, up 5.6%. Sands' stock closed the day at $48.75, the largest increase since the last couple of days in November. Sands CEO Sheldon Adelson was the first to take a chance in Macau, and when the gaming industry blew up in the Chinese enclave, LVS prospered.

Wynn Resorts has become the most profitable US gaming stock in recent years, and continued its climb this week. Wynn stock closed at $118.07, up five percent from the last day of 2012. Steve Wynn, the founder of Wynn Resorts, is one of the executives preparing for the online gambling boom about to take place in the US.

Melco Crown had been one of the stocks hit the hardest during the economic recession. The stock has been rebounding over the past year, and Wednesday signaled hope for 2013 when the stock closed at $17.36, an increase of 3.1%.

The surge in stock prices was directly attributed to the success that Macau casinos continue to experience. After a record-setting 2011, casino revenue in Macau rose in 2012, but not by the standards that were set the previous year. In December, revenue jumped to $28.2 billion, a record that was set previously in October. For 2012, total revenue equaled 304 billion patacas, up from 268 billion in 2011.

All three of the aforementioned companies have launched International publicly traded companies over the past few years on the London Stock Exchange. Sands and Wynn have been the most successful in London, with Melco Crown holding steady.

Previous Casino Gambling News Articles

Illinois Profits Rising From Video Gambling

Terms & Conditions | Gambling Problems | © 2002 - 2017 Casino Gambling Web, Ltd.