Casinos Tick Higher as Las Vegas Strip Revs Rise 13.5% in December (LVS) (WYNN) (MGM)
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Gaming stocks are moving higher on the session amid new data out on Las Vegas revenue.
According to the Nevada Gaming Control Board, revenue on the Las Vegas Strip rose 13.49 percent to $588.35 million in December. The number compares with a 12.8 percent drop in November and modest 3.61 percent gain in December 2011.
Though becoming a smaller and smaller part of the overall picture at names like Las Vegas Sands (NYSE: LVS), Wynn Resorts (NYSE: WYNN), and MGM Resorts (NYSE: MGM) with Macau taking a firm hold, Las Vegas still makes up an important part of the overall picture. All three are ticking higher Friday morning.
According to the Nevada Gaming Control Board, revenue on the Las Vegas Strip rose 13.49 percent to $588.35 million in December. The number compares with a 12.8 percent drop in November and modest 3.61 percent gain in December 2011.
Though becoming a smaller and smaller part of the overall picture at names like Las Vegas Sands (NYSE: LVS), Wynn Resorts (NYSE: WYNN), and MGM Resorts (NYSE: MGM) with Macau taking a firm hold, Las Vegas still makes up an important part of the overall picture. All three are ticking higher Friday morning.
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