Macau Casinos Shares Success

Macau is continuing to be the shining light in the eyes of the casino world as the stocks and shares for casino operators based in Macau saw a sharp rise in value. Some shares saw a rise of up to 7% in value. Casino operators had been suffering these last few years with casino restrictions in the USA and the collapse of the economy. The area of Macau however is defying all the doom and gloom and saw a rise of revenue by 59 percent from the previous year!

Companies such as Las Vegas Sands and Wynn Resorts both have casino resorts and hotels in the Macau area and the Chinese division has certainly saved the day when it comes to turnover this year. With the Macau revenue for November 2009 at $1.55 billion, which is 59 percent higher than the turnover in November 2008, it is no surprise that there are a lot of happy businessmen and bankers out there. First reports of the stocks performance were disappointing as the market seemed ruthless towards the casinos. It was unfortunate that the shares were debuting in Hong Kong on the same day that Dubai was announcing some serious problems financially.

Financial strategist Jonathan Galaviz said, “Half of Dubai’s story is tourism. There will probably be some negative sentiment toward tourism assets globally, such as casino operations, as Dubai gets squared away.” The downturn was only temporary as the wise investors saw through the decline and bought up the bargain shares. It certainly seems now that Macau can do no wrong and that it really is the Chinese equivalent to the bright lights of Vegas.

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Macau has really dominated the press and the casino industry in the past 12 months as it seems to be defying the worldwide downturn in fortune and to be actually making a profit. This is great news for entertainment companies who are always the first to suffer when people pull back on the purse strings and start counting the pennies. It seems like the novelty of gambling legally for the Chinese and other Asians is turning Macau into a teeming resort, and is too much to resist. The government has done a lot to encourage the growth of the industry in recent months with visa amendments to enable visitors to come to the casinos more frequently.

Macau is now getting a lot of focus from developers and is planning to continue growing with limits to stop over developments. The Sands resort is to start up again with their construction that was previously put on hold due to financial problems. Now it is clear that to miss out on the Macau popularity and growth of the Asian Vegas would be foolish. Already owners of the Venetian Macao, which is the biggest casino in the world, Sands China looks set to open its new resort later in the year.

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