Macau gaming revenue figures show increase
October 03, 2016 10:40 AM
by Robert Mann
September gaming revenue figures for Macau are out and they show an increase of 7.4 percent over 2015. Gaming revenue had declined for more than two years until increases now in both August and September.
Las Vegas Sands (LVS) opened its Parisian Macao in September and Wynn Resorts (WYNN) unveiled its Wynn Palace in August. Analysts were predicting an increase of flat to 5 percent for September and say the new Parisian Macao and additional credit to high rollers precipitated the increase.
Both new resorts are relying on increased entertainment offerings to boost business. Wynn stock was up about 3 percent early Monday and LVS was showing a 2 per cent boost.