Posts Tagged ‘JP Morgan’

Bird Flu Threat in China Temper Macau Gaming Stocks

by , Apr 15, 2013 | 10:00 am

lisboa_macauOne would think that after a record-setting gaming revenue month for Macau, share prices of the three Nevada casino operators doing business in the Chinese gaming enclave would skyrocket.

Guess again.

Shares of Wynn Resorts Ltd., Las Vegas Sands Corp. and MGM Resorts International saw little movement upward in the days following news that Macau’s gaming revenues reached an all-time single-month record of $3.92 billion in March.

All three companies rose in value Monday.

Concerns over a potential outbreak of a new strain of bird flu in mainland China worried investors and kept stock prices from rising, even as analysts touted Macau cracking gaming revenue records throughout the year.

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Macau Sees Record Gaming Revenues in March

by , Apr 10, 2013 | 10:00 am

Macau CasinoAny predictions of a slowdown in Macau’s gaming market are long forgotten.

The Chinese gaming enclave shattered the region’s monthly gaming revenue record in March, with casinos collecting more than $3.92 billion from gamblers during the month.

The figure eclipsed the previous one-month record of $3.5 billion in gaming revenues, which was set in December. The March total accounted for a 25.4 percent increase over the amount casinos collected in March 2012.

The monthly results were released Tuesday by the Macau Gaming Inspection and Coordination Bureau. The March total is the best year-over-year growth rate since January 2012, when gaming revenues increased by 35 percent.

Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. are the three American casino companies operating in Macau.

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Nevada gaming revenues top $1 billion for July, up nearly 17 percent

by , Sep 15, 2012 | 1:00 pm

Nevada recorded its second $1 billion gaming revenue month of 2012 during July – the first time in four years the state has seen multiple billion-dollar months – due in large part to a near-record performance in baccarat play.

Nevada casinos collected $1.005 billion from customers during July, according to figures released Monday by the Gaming Control Board.

Revenues increased almost 17 percent from the $860.1 million collected in July 2011.

On the Strip, gaming revenues jumped 27.5 percent to almost $597.5 million, compared to $468.5 million in July 2011.

Baccarat was the driving force behind the revenue increase. Casinos collected $189.9 million gamblers, a jump of 111.8 percent from a year ago. Gamblers wagered $1.2 billion on baccarat during the month, a 28.9 percent increase from a year ago.

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