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Growth in Macau offsetting "weak" Vegas market

7 April 2008

MACAU -- As reported by the Macau Daily Times: "The performance of casino mogul Steve Wynn's Macau property is making up for any weakness in the Las Vegas market as a result of the US economic slowdown, an analyst said last week.

"In New York shares of casino operators fell slightly during Friday's trading after Citi Investment Research Analyst Joshua Attie said trends in room rates in Las Vegas were soft in the first quarter, Forbes.com reported yesterday.

"In a note to investors, the US analyst said that room rates in the quarter are trending down 11 percent year over year in the city.

"Growth in Macau, however, appears to be strong, he said, with gaming revenue rising over 60 percent in the period, Forbes reported..."

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