Macau Remains Strong Despite Asian Economic Slowdown
30 Setembro 2011 - 9:16AM
Marketwired
Casino stocks have had a fairly difficult month on fears that a
potential slowdown in the Chinese economy might affect their
operations in Macau. Jefferies analyst, David Katz notes that
Asia's slowdown could "reduce the funding that's available for the
corporate junket business, which is really the engine of these
businesses' growth in Macau." The Paragon Report examines the
outlook for the Resorts and Casinos Industry and provides equity
research on Las Vegas Sands Corporation (NYSE: LVS) and MGM Resorts
International (NYSE: MGM). Access to the full company reports can
be found at:
www.paragonreport.com/LVS
www.paragonreport.com/MGM
Macau has been growing at an exceptionally rapid rate this year.
Macau's Gaming Inspection and Coordination Bureau reported that
Gambling year-over-year revenues were up 57% in August of 2011.
Gambling revenue totaled $3.09 billion in August, despite losses in
financial markets around the world.
Macau overtook the Las Vegas Strip as the World's biggest
gambling market in 2006, and is set to rake in 5 times the Strip's
gambling revenue this year. In the January-August period, Macau's
gambling revenue rose 47% from a year earlier, adding to a 58% rise
in Y 2010.
The Paragon Report provide investors with an excellent first
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Las Vegas Sands Corp. (LVSC) owns and operates The Venetian
Resort Hotel Casino (The Venetian Las Vegas), The Palazzo Resort
Hotel Casino (The Palazzo) and The Sands Expo and Convention Center
(the Sands Expo Center) in Las Vegas, Nevada, and the Sands Macao,
The Venetian Macao Resort Hotel (The Venetian Macao), the Four
Seasons Hotel Macao, Cotai Strip (the Four Seasons Hotel Macao,
which is managed by Four Seasons Hotels Inc.) Sands China said
Wednesday it entered into an agreement last week with over a dozen
banks for term loan and revolving facilities of up to US$3.7
billion.
MGM Resorts International is a holding company engaged in
gaming, hospitality and entertainment. The Company conducts its
business through its wholly owned subsidiaries. It primarily owns
and operates casino resorts that include gaming, hotel, dining,
entertainment, retail and other resort amenities. MGM Resorts
reported second quarter 2011 adjusted loss of 8 cents per share as
net revenue surged 17% year over year to $1.81 billion.
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