Casino news
Incomes of Macau casino are increasing |
10.06.2011 |
Incomes of Macau casino are increasing
More than 30 Macau's casinos brought earnings in January that are on 33% more than a year ago. They composed $2.32 billion, and the increment was 32.9 percent in comparison with 2010 year. These results came in behind a 52 percent year-over-year increase in December. However, the numbers of statistics don't contain results for the 15-day Chinese New Year celebration that starts on Thursday.
In 2010, Macau's casinos earned $23.4 billion that was a 58 percent growth comparing with 2009. Las Vegas Sands Corp., which manages three resorts in Macau and is creating and investing four new additional resorts in the Cotai Strip region, was an owner of at the rate of about 18 percent of the marketshare, Macau government regulators inform. The casinos which are operated by Hong Kong billionaire Stanley Ho's company possessed 31 percent of the market. Susquehanna International Group gaming analyst Rachael Rothman reported to investors, that results of January could be higher and better, but this is normal that the revenues at the beginning of the year are not as large as it probably could be desired. That’s why Macau gaming income is supposed to enlarge soon, in the nearest months. Of course, some analysts didn’t expected the strength January's results, especially because of Chinese New Year will be soon. The January statistics showed the third highest gross gambling receipts month ever in Macau. Usual monthly profits in Macau have exceeded $2.3 billion in three of the past four months starting since October.
Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski supposed that such increments of revenues could become quite interesting and attractive for new investors. "We expect shares of Macau operators to trade higher as investors react to today's results," Wieczynski informed.
Even in consideration of Macau's record gainings in 2010 and a slowing economy of China, analysts think that the industry will continue to develop, grow and improve.
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