On Friday the stocks of major operators in the casino industry rose, surprising many analysts who have looked on as live casinos in Atlantic City and Las Vegas have suffered over recent months. However, the rise wasnt due to a boom in Las Vegas casino revenues. The rise in stock prices can be attributed to Macau, the Chinese gambling hotspot.
One of the worlds foremost gambling hubs, Macau is known as the Monte Carlo of the Orient. Over the past year it has been home to a host of gambling and casino related events including the Asian Poker Tour and other events hosted by online casino and online poker sites. Macau is home to twenty-eight casinos, which are government-franchised and regulated. The most popular game in Macau casinos is casino baccarat and other popular games include roulette, casino blackjack, keno, Sic bo and Fan-Tan.
As the Macau casino industry grows, so do homeland casino operators with real estate in Macau. Las Vegas Sands, for instance, has projects underway in both Singapore and Macau so even if they arent showing huge profits in Las Vegas they can make up for it with big casino profits in the Far East.
Analyst David Bain, of Sterne, Agee & Leach, says that now is the time to buy. Growth in the casino industry, thanks to Macau, will be too big to ignore. Analyst Rachael Rothman, of Wedbush Morgan, raised her revenue expectations for Las Vegas Sands, as well as Wynn Resorts as well.
Macau isnt the only place where the casino industry is booming. Online casinos are also doing well, especially considering the economic situation. Many players that once visited the live casino cities of Las Vegas and Atlantic City have now found a home online.