Macau Gaming Revenue Trending Higher by 13% to 15% - Wells Fargo

April 22, 2013 10:58 AM EDT
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Macau April gaming revenue is trending higher by 13 to 15 percent year-over-year, thinks Wells Fargo. This compares to the bank's prior estimates of 12 to 14 percent.

"Month-to-date ADR (including Slots) of 964MM MOP is up 16% yr/yr and flat from the prior week," said analyst Cameron McKnight. "We believe concerns over avian influenza and recent soft economic data are overdone, and remain buyers of Macau stocks Melco Crown Entertainment Limited (Nasdaq: MPEL), Wynn Resorts Ltd. (Nasdaq: WYNN) and Las Vegas Sands Corp. (NYSE: LVS)."

Wells Fargo expects above-consensus 2013 Macau gaming revenue growth of 16 percent year-over-year.

For an analyst ratings summary and ratings history on Las Vegas Sands (NYSE: LVS) click here. For more ratings news on Las Vegas Sands click here.

Shares of Las Vegas Sands closed at $53.06 yesterday.

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