Casinos in Macau are flourishing and making fantastic revenues in the world’s number one gambling hub.
Macau’s gambling revenue for March was $4.44 billion, which is 13% higher than the same time last year.
This was the reason why the stocks of various casinos like Wynn Resorts, Las Vegas Sands and Melco Crown Entertainment went up and are heatedly discussed in the gambling news.
Wynn Resorts rose 5.03, or 2%, to 227.18 and the stock recovered its 10-week moving average, after it fell below it last week. This happened for the second time after December. Wynn’s Macau properties, which operate under Chinese gambling laws made 71% of Wynn’s revenue in 2012 and the 29% left was accounted from Las Vegas.
Las Vegas Sands raised above its 50-day line with 1.97 to 82.75. Las Vegas Sands’ properties in Macau include Venetian Macao, Sands Macao, Plaza Macao, Four Seasons Macao and Sands Cotai Central. The other locations where LVS has casinos are Las Vegas, Pennsylvania and Singapore.
Melco Crown Entertainment rose 2.19, or almost 6%, to 40.84 in heavy trade. Its properties in Macau include City of Dreams, Mocha Clubs and Altira Macau. It is also getting ready to open City of Dreams Manila casino resort in the Philippines this year.