Tag: Sands Macau
April May Mean Showers For Sands, Other Macau Casinos
Investors – Las Vegas Sands, Wynn Resorts, MGM Resorts International and others with casinos in Macau could be negatively affected by a slowdown in gambling revenue in the Chinese gaming hotspot. Wells Fargo analyst Cameron McKnight said in a report Monday that channel checks show April gaming revenue in the former Portuguese colony, now the top global casino gambling destination, is trending between 5% and 10% growth, well below the bank’s earlier midteens estimate. McKnight had earlier said he expected a slowdown in Macau gaming revenue in mid-2014, due to a possible slowdown in the high-roller “VIP” segment gaming that…
Sands China’s earnings impress
Reuters – Robust quarterly results from billionaire Sheldon Adelson-owned Sands China propelled shares of most Macau casinos to record highs on Friday, and more gains could lie in store as strong gaming revenue is expected for the month. Sands China posted a nearly 43 percent jump in net revenue to $2.3 billion in the third quarter from a year earlier, sending its shares in Hong Kong surging by as much as 10.8 percent on Friday. The surprise, according to Deutsche Bank analyst Karen Tang, was down to a faster-than-expected increase in margin growth at its Sands China Cotai casino and…