Single post

Shares of Macau Casinos Rise on Recovery Reports

Las Vegas Sands is rapidly increasing its sharesThe shares of Las Vegas-based casino Las Vegas Sands rose at a rapid pace to close above its 50 day intraday average. With reports of casinos in Macau finally recovering the shares of other Macau based casinos are also showing signs of revival.

 

Signs of revival in Macau

Financial analysts state that Las Vegas Sands and three other top casinos can be recommended for share market investors as the gambling revenues in Macau are likely to stabilise and investors can hope for an upward movement of their shares. Last year was tough on most Macau-based casinos and large brands like MGM, Wynn and Sands witnessed a sharp fall in their profits as number of junkets also reduced. Sands is the largest casino in the world in terms of annual revenue when compared to others like MGM Resorts and Wynn Resorts and share prices of all of them rose significantly this week.

 

Cautious outlook in Macau

The Chief Executive of Macau, Fernando Chui, stated that resorts now have to add new features to their services to improve their profits and attract visitors as Macau has still not outgrown its period of slow growth. Though some analysts in Macau and Asian markets are upbeat by recent stock market performance of Macau’s casinos like Las Vegas Sands, a majority of them are still skeptical about the change. They feel that continued government support will help the economy grow slowly out of the present situation and help in long term growth.

theme by teslathemes