Macau gambling revenue rises in April
Gambling revenue in the southern Chinese territory in April was 20.2 billion patacas ($2.52 billion), government data showed recently.
““Analysts were expecting 13-17 percent growth.
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Chinese President Xi Jinping's campaign against shows of wealth by public officials in 2014 had dried up the stream of VIP spenders from the mainland.
Analysts however remain cautious on the sustainability of revenues though they have called a bottom to Macau's over two-year slump.
For the year-to-date period, revenue from Mecau region climbed 13.8 percent to 83.640 billion patacas. In any case, the region is a key factor for all gaming companies that have a base in Mecau.
The following stocks are trading at last check:
- Las Vegas Sands Corp. (NYSE:LVS) is trading up 0.83 percent.
- Wynn Resorts, Limited (NASDAQ:WYNN) is gaining 2.57 percent.
- MGM Resorts International (NYSE:MGM) is up 0.85 percent.
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