Macau Gambling Revenue Rises 35 Percent in January 2012: Casinos in General Have Great Month
Casino companies gained after revenue in Macau, the world's largest gambling hub, rose 35 percent in January (2012). MGM Resorts International climbed 0.7 percent to $13.14. Las Vegas Sands Corp. increased 0.8 percent to $49.50.
January was a great month for casino operators. All 10 publicly traded casino operators and slot machine manufacturers charted by Las Vegas-based financial adviser Applied Analysis enjoyed gains during the past 30 days.
Two companies, MGM Resorts International and Boyd Gaming Corp., witnessed double-digit average daily stock price increases over this period.
The trend could continue, perhaps bolstered by the World Wide Web as US regulation appears on the horizon.
Yesterday, shares in 888 Holdings shares rose 11.7 per cent to 52½p after announcing a deal with Caesars Interactive Entertainment to supply it with a poker platform and business-to-business services to support a US operation. 888 already has the online poker software in place. They are the 4th largest Internet cardroom in the world currently.
- Aaron Goldstein, Gambling911.com
