SOURCE: The Bedford Report

The Bedford Report

October 11, 2011 08:16 ET

Macau Casino Operations Continue to Prosper

The Bedford Report Provides Equity Research on Las Vegas Sands & Wynn Resorts

NEW YORK, NY--(Marketwire - Oct 11, 2011) - Despite the current economic downturn in the US, Resorts and Casinos with operations in Macau are continuing to post record results. Cash-rich mainland gamblers, who contribute the bulk of earnings in Macau, have helped the tiny island maintain stellar gaming revenue since the start of the year. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides equity research on Las Vegas Sands Corporation (NYSE: LVS) and Wynn Resorts, Ltd. (NASDAQ: WYNN). Access to the full company reports can be found at:

Macau's Gaming Inspection and Coordination Bureau reported earlier this month that gambling revenue on the small island jumped 39 percent to 21.2 billion patacas ($2.6 billion) in September, reflecting continued growth in the world's largest gambling market despite plunging casino stocks. September's revenue figure was expected to fall short of August's record $3.1 billion due to seasonal factors.

Asia's strong growth in the gaming industry stands in contrast to the Las Vegas Strip, which is now suffering the effects of the global downturn. Casino stocks have had a fairly difficult two months on fears that a potential slowdown in the Chinese economy might affect companies' operations in Macau.

The Bedford Report releases investment research on the Resorts and 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 free at and get exclusive access to our numerous analyst reports and industry newsletters.

Sands saw its net Chinese income grow 100% in the second quarter; $1.21 billion in Macau revenue dwarfed the mere $332.5 million from its Las Vegas operations. Wynn Resorts said stronger gambling business in Asia helped the company more than double its second-quarter net income. On an adjusted basis, knocking out special charges, the company would have earned $1.60 a share, up from 52 cents.

Net revenue at Wynn Macau was $976.5 million, up 36.7% year over year, primarily driven by a significant increase in the table games turnover in the VIP segment, which rose 50.6% from the prior-year period to $32.7 billion.

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