Las Vegas Sands and MGM Resorts to Benefit From Growth in Global Gaming
25 Março 2011 - 8:35AM
Marketwired
With Macau revenues still surging, gaming companies with presence
in the region continue to receive the thumbs up from the analyst
community. Back in 2006 the tiny island of Macau surpassed the Las
Vegas Strip as the world's gambling core after the government
allowed overseas casino operators to enter the region. With Vegas
still posting disappointing numbers, casino operators have started
to look elsewhere for possible revenues comparable to Macau. The
Bedford Report examines the outlook for companies in the Resorts
and Casinos Industry and provides research reports on Las Vegas
Sands Corporation (NYSE: LVS) and MGM Resorts International (NYSE:
MGM). Access to the full company reports can be found at:
www.bedfordreport.com/2011-03-LVS
www.bedfordreport.com/2011-03-MGM
Currently Las Vegas Sands is seeking land to expand its casino
in Singapore. Last April Las Vegas Sands opened the lucrative
Marina Bay Sands integrated resort in Singapore. Marina Bay has
only one competitor in the region and has received more than 11
million visitors since it opened.
Las Vegas Sands is also in talks to build a gaming, hotels and
leisure project in Spain costing $13.6bn-$20.4bn. Sands CEO Sheldon
Adelson says the company wants to do a "mini-Las Vegas" in Europe.
"I hope we could use the name 'Europe Vegas' or 'Euro-Vegas' or
something," he said.
The Bedford Report releases regular market updates on the
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MGM's Chairman and Chief Executive Jim Murren is confident that
Las Vegas' fortunes are turning around, claiming "the recovery that
has been long awaited and frustrating in its timing is gaining
momentum." MGM reported a loss of $139 million, or 29 cents a
share, for the fourth quarter, compared with a loss of $433.9
million, or 98 cents a share, a year earlier.
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