dditionally, Las Vegas' economy is finally beginning to show signs of recovery. In turn, the improving economy could lure gamblers back to the casinos. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides research reports on Las Vegas Sands and Wynn Resorts.
Macau surpassed the Las Vegas Strip as the world's gambling core in 2006 after the government allowed overseas casino operators to enter the region. According to Macau's tourism agency, visitor arrivals in the gaming hotbed rose 15 percent to 22.7 million in the first 11 months of 2010.
These numbers are only likely to raise going forward as the Macau-China boarder gate is set to expand its capacity to more than double its current size for the upcoming Chinese New Year, leading more gamers into the tiny region. In fact, CLSA Ltd projects that Macau gaming revenues could surge 30 % to $30 billion this year as visitors from mainland China increase.
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Las Vegas Sands generates over 75% of its earnings from holdings outside of the United States with operations in Macau and Singapore garnering most of the attention. However, earlier this week Andy Abboud of Las Vegas Sands argued that Florida should consider "destination casino resorts" as the next-best hope for jobs and economic development. For the last two years Las Vegas Sands has been attempting to bring its resort-style casinos and convention space to Miami.