Casino Stock Rises
22 November 2005
LOS ANGELES – As reported by Reuters: "Shares of Las Vegas Sands Corp. (LVS) and Wynn Resorts Ltd. (WYNN) each rose more than 6 percent on Monday after China reported a 10.2 percent increase in visitors to its gambling enclave of Macau.
"Sands currently operates the Sands Macao casino and is developing the Macao Venetian Casino Resort. Wynn expects to open the first phase of its Macau resort in the third quarter of next year.
"…China's statistics show that visitation to Macau increased 10.2 percent to 1.6 million in October, including a 9.8 percent rise in visitors from the mainland, according to a report from Deutsche Bank Securities.
"…Macau's official casino revenues have not been released for October, but rose 10 percent in September, Deutsche Bank said…"