Macau’s Casinos Enjoy Continuing Success
Macau based casinos are continuing to perform fantastically and this week the Melco Crown Entertainment’s stock reached a record high.
A number of reports released this week show that Macau’s casinos are enjoying unprecedented success despite the recent typhoon Utor.
There was also a report released which shows that Las Vegas Sands is on the path to taking a record-high market share in the region.
In a report RBC Capital Markets analyst John Kempf said that table gaming revenue for this month is good despite the typhoon Utor which killed 20 in China last week and caused 20% drop in Macau gaming revenue. By the end of last week RBC estimated that Melco Crown’s market share had rised to 14.2%, up by 1.1% from a month ago and on Monday afternoon its stock price rose by 2% to 27.33.
Sands China, the Las Vegas Sands’ majority-owned subsidiary and operator of Sands Cotai Central was also up by about 2%. Sands has risen 16% since June 24 and it has a 97 IBD Composite Rating.
This means that its stock has outperformed 97% of all stocks recently in key areas such as sales and profit growth. Furthermore, in August Sands’ market share rose to 23.1% up from 22.4% in July.
