Asia
Wynn, Sands, Other Casino Stocks Soar On Bullish Macau Gambling Forecast

Gambling revenue in Macau could have its best gain since July, according to an analyst report, sending casino stocks higher.
Bernstein expects January’s year-over-year gross gambling revenue to rise 22% to 24%, suggesting the highest growth rate since July’s 29.2% gain.
Monthly revenue growth the Chinese special administrative region, the world’s largest gaming market and the only place in China where gambling is legal, was 14.6% in December and 22.6% in November.
Wynn Resorts (WYNN) shares rose 1.9% on the stock market today while Las Vegas Sands (LVS) climbed 2.3%, both hitting their best levels intraday since 2014. Melco Resorts & Entertainment(MLCO) advanced 3.3%. MGM Resorts (MGM), which has Macau operations but is more Vegas-centric than Wynn or Las Vegas Sands, gained 2.85%, hitting a record high. MGM Resorts is still in buy range.
Macau had a strong year with revenue growth up 19.1% in 2017 vs. 2016, according to data from the Gaming Inspection and Coordination Bureau.
But the gains come as Macau considers tougher regulations. Last year, authorities accused junket operators — the middlemen who try to get VIPs to spend big in casinos — of money-laundering and capped daily ATM withdrawals for China UnionPay cardholders.
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