SOURCE: The Bedford Report

The Bedford Report

October 07, 2010 08:46 ET

Growth in Las Vegas Still Struggling but Gaming Stocks Continue to Soar

The Bedford Report Releases Analyst Research on Las Vegas Sands and Melco Crown Entertainment

TORONTO--(Marketwire - October 7, 2010) -  This year Casino and Gaming companies have relied heavily on strong performances in Asia to offset sluggish performances along the Las Vegas strip. While not all companies have operations in Asia, those that do are expected to outperform peers due to the better supply/demand fundamentals, strong economic growth, and increasing transportation investments in Macau. The Bedford Report examines the outlook for companies in the Resorts & Casinos Industry and provides research reports on Las Vegas Sands Corp. (NYSE: LVS) and Melco Crown Entertainment (NYSE: MPEL). Access to the full company reports can be found at:

Las Vegas faces many problems in terms of economic growth. According to a recent New York Times article, unemployment in Nevada is currently at a startling 14.4% -- the highest of any state in the nation -- and 14.7% in the city of Las Vegas. Over the last three years, much of the local economic downturn can be tied to the gambling industry, which has seen sharply declining revenues.

Despite the string of negative data coming out of Las Vegas, casino stocks have seen hefty gains in the last month. While Vegas is struggling, according to a recent report from The Wall Street Journal gambling revenue in Macau jumped 40 percent in September. Both Las Vegas Sands and Melco Crown Entertainment generate over 75 percent of their earnings from holdings outside of the United States. In fact, One hundred percent of Melco Crown's revenues are derived from Macau. The holding company operates the Mocha Club and Crown Macau gaming interests in Macau and is developing the City of Dreams casino and resort complex. While Melco's growth prospects in Macau are appealing, competition in Macau is heating up.

The Bedford Report releases regular market updates on the Resorts & Casinos Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at and get exclusive access to our numerous analyst reports and industry newsletters.

Las Vegas Sands may go a step further to reflect its international presence. According to LVS spokesman Ron Reese, the company's billionaire CEO Sheldon Adelson is pushing to have the words "Las Vegas" removed from the company's name. Sands took in less than one-fifth of its $1.59 billion in second-quarter revenue in Las Vegas. Reese said the name change could come as early as November, when Sands' board meets next.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

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