Tag: Macau Slump
Las Vegas Sands May Be Hurt By Macau Slump
May 24, 2014
A second bank said that a Macau slump in gambling revenue that could affect earnings for Las Vegas Sands and other top casinos in the hot gambling destination on China’s southern coast. Nomura Securities on Thursday cut its earlier-raised 2014 revenue growth forecast for Macau from 17% to 14%. The Japanese bank joined Wells Fargo, which, as reported earlier, has been warning for some time that Macau casinos face headwinds in the short term. Sands separately said Thursday that President and Chief Operating Officer Michael Leven will retire at the end of this year. And CEO Sheldon Adelson tried to…