Macau Gambling Revenue In December Drives Up Operators' Stock

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For over a year now, gaming operators have not had much to be happy about either with the revenue at their casinos or their own stock prices. On Monday, these operators received good news on both fronts.

Casino company stocks soared on Monday after reports surfaced of an almost fifty percent increase in revenue at Macau casinos. The increase follows a trend that began in the latter part of 2009 for Macau casinos.

The Chinese government has had a lot to do with the up and down revenue figures at Macau casinos in the past year. Early last year, revenue was down after the Chinese government restricted the number of times residents from the mainland visited Macau.

Later in the year, the restrictions were lightened, and Macau again started seeing big revenue numbers from their casinos. Towards the end of the year, the government encouraged Macau to diversify their means for income to include other areas outside of casino gambling.

According to a Susquehanna Financial, casino revenue in Macau increased by forty-eight percent, or $1.42 billion, in December. There is also optimism that the first quarter of 2010 will be strong, which means gaming companies' stock should continue to rise.

On Monday, Wynn Macau and Sands China, two newly traded gaming companies on the Hong Kong market, rose to three week highs. The two companies are Asian branches of Wynn Resorts and Las Vegas Sands. Wynn Macau closed at HK$9.89, and Sands China finished the trading day at HK$10.42. Their US company shares also jumped Monday on the New York market.

January 5, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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