Macau August Revs Rip 57% Higher in August, Shrugs of U.S. Debt Downgrade (MGM) (WYNN) (LVS)
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Gaming stocks are looking strong early Thursday morning, as Macau continues to rake it in through August.
Data this morning has revenue for Games of Fortune in Macau increasing 57 percent in August to 24.77 billion patacas (or about $3.09 billion), from 15.77 billion patacas in the same period lat year.
Accumulated gross revenue through August in Macau is up 46.8 percent, the third month of accelerated growth. Notably, revenue growth has accelerated every month in 2011 so far, with the exception of April to May, when growth was 43.3 percent to 43.1 percent.
The WSJ notes that high-rollers haven't been impacted by the recent downgrade of U.S. debt earlier in August, which sent the Hang Seng tumbling. One RBS analyst affirmed his outlook for 45 percent of overall growth in 2011.
Casinos with operations in Macau include Las Vegas Sands (NYSE: LVS), Wynn Resorts (Nasdaq: WYNN), and MGM Resorts (NYSE: MGM).
Data this morning has revenue for Games of Fortune in Macau increasing 57 percent in August to 24.77 billion patacas (or about $3.09 billion), from 15.77 billion patacas in the same period lat year.
Accumulated gross revenue through August in Macau is up 46.8 percent, the third month of accelerated growth. Notably, revenue growth has accelerated every month in 2011 so far, with the exception of April to May, when growth was 43.3 percent to 43.1 percent.
The WSJ notes that high-rollers haven't been impacted by the recent downgrade of U.S. debt earlier in August, which sent the Hang Seng tumbling. One RBS analyst affirmed his outlook for 45 percent of overall growth in 2011.
Casinos with operations in Macau include Las Vegas Sands (NYSE: LVS), Wynn Resorts (Nasdaq: WYNN), and MGM Resorts (NYSE: MGM).
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