Gambling Revenue for the State of Nevada Falls for the First Time in Five Months
17 Maio 2012 - 9:20AM
Marketwired
Despite strong gambling growths in Macau, the only part of China
where gambling in casinos is legal, casino stocks have fallen
sharply recently. The Market Vectors Gaming ETF (BJK) has fallen
over 8 percent in the last week. Recent numbers from the Nevada
Gaming Control Board show gaming revenues for the state dropped in
March. Five Star Equities examines the outlook for companies in the
Resorts & Casinos Industry and provides equity research on Las
Vegas Sands Corp. (NYSE: LVS) and MGM Resorts International (NYSE:
MGM).
Access to the full company reports can be found at:
www.FiveStarEquities.com/LVS
www.FiveStarEquities.com/MGM
Last week the Nevada Gaming Control Board stated that gambling
revenue for the state in March fell 11 percent to $854.6 million
from March 2010. The decrease broke a streak of five consecutive
months of rising revenues. Casinos could possibly face new
competition as Nevada is set to become the first state to license
online poker. Social media juggernauts Zynga and Facebook, as well
as Native American Tribes are expected to compete with Nevada's top
casinos for a license. California, New Jersey, Iowa, Massachusetts,
Delaware are some of the other states contemplating making a
similar move.
Five Star Equities releases regular market updates on the
Resorts & Casinos Industry so investors can stay ahead of the
crowd and make the best investment decisions to maximize their
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Las Vegas Sands recently reported net revenue for the first
quarter of 2012 was a record $2.76 billion, an increase of 30.8%
compared to $2.11 billion in the first quarter of 2011.
Consolidated adjusted property EBITDA in the first quarter of 2012
increased 43.0% to a record $1.07 billion, compared to $745.7
million in the year-ago quarter.
MGM Resorts International recently reported its first quarter
2012 results. The current year quarter included the results of MGM
China Holdings on a consolidated basis. Consolidated net revenue
increased 51% to $2.3 billion; excluding MGM China, net revenue
increased 5% compared to the prior year quarter.
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