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Casino operators continue to invest in Macau16 September 2011NEW YORK, NY -- (PRESS RELEASE) -- With Macau Gaming revenues showing no signs of slowing, Casino operators from across the globe continue to invest in the World's largest gaming hub. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides equity research on Las Vegas Sands Corporation LVS -1.01% and Melco Crown Entertainment Ltd. MPEL -0.70% . Macau's Gaming Inspection and Coordination Bureau reported Earlier this month that Gambling revenues in Macau continue to increase at an incredible rate, with year-over-year revenues up 57% in August of 2011. Gambling revenue totaled $3.09 billion in August, despite losses in financial markets around the world. Casino revenues are up 47 percent for the first eight months of the year, or a total of $21.7 billion -- about five times the size of Las Vegas. Analysts said the monthly year-over-year comparisons continue to reflect this year's opening of Galaxy Cotai, along with growth in high-end business. The Bedford Report releases investment research on the Resorts and Casinos industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Melco Crown Entertainment recently announced that it will pay $360 million for a controlling stake in a new gaming resort in Macau -- the company's second resort in the Asian gaming hub. Melco Crown will spend $1.7 billion developing the 2,000-room resort, with construction starting as early as next year to meet a 2015 completion date, group chief executive Lawrence Ho said. Las Vegas Sands recorded adjusted earnings of 54 cents per share in the second quarter of 2011, beating the year-ago quarter earnings of 17 cents a share. Sands China reported a 16.3% year-over-year growth in revenues to $1.21 billion during the quarter. |