Gaming Companies With Macau Interests Fall on Disappointing Preliminary Sept. Revenue Data

04.10.2007, Lesen Sie hier den Bericht über «Gaming Companies With Macau Interests Fall on Disappointing Preliminary Sept. Revenue Data».

New York (AP) -- Shares of gaming companies with interests in Macau slipped Wednesday, after a Morgan Stanley analyst said preliminary Macau gaming revenue growth in September is significantly below her estimate.

Analyst Celeste Mellet Brown said early Macau figures show September gaming revenue growth of 55 percent year over year, which is well below her forecast for more than 75 percent growth. The data is also likely to be below general expectations across Wall Street, she added.

"The gaming revenue number implies that the new supply that came to the market shifted revenue rather than grew the market incrementally," she wrote in a client note.

Investors have been cheered in recent months by the strength of casino operators in the southern Chinese gambling enclave of Macau, which is widely touted as the next Las Vegas.

One of the biggest casinos to come on line recently was Las Vegas Sands Corp.'s USD 2.4 billion Venetian Macao, which opened in August. Many analysts applauded the property's initial performance, but some worried about the impact it would have on others in the market.

Las Vegas Sands, which is led by American billionaire Sheldon Adelson, also runs the Sands Macao.

Shares of Las Vegas Sands slid USD 10.95, or 7.6 percent, to USD 133.61 in morning trading. The stock has traded between USD 66.06 and USD 145.57 over the past 52 weeks.

Elsewhere in the sector, shares of Wynn Resorts Ltd., which operates Wynn Macau, fell USD 12.74, or 7.7 percent, to USD 153.09. Over the past year, the stock has traded between USD 66.52 and USD 169.38.

Shares of MGM Mirage, which is set to open its USD 1.1 billion joint venture, the MGM Grand Macau, later this year, dropped USD 2.75, or 2.9 percent, to USD 92.15. The stock has traded in a 52-week range of USD 39.82 to USD 95.50.

Melco PBL Entertainment Ltd.'s stock declined 77 cents, or 4.1 percent, to USD 18.15. It has traded between USD 9.95 and USD 23.55 over the past year.

Über Glücksspiele in Macau - Gambling in Macao:

Macau (englisch Macao) liegt rund 50 Kilometer westlich von Hongkong und ist das Glücksspiel-Paradies in Asien.

Macau hat rund 40 Spielcasinos. Die grössten Casinos sind The Venetian Macao, MGM Macao, Wynn Macao, Galaxy StarWorld, City of Dreams, Sands Macao, Casino Lisboa.

Neben den riesigen und farbenfrohen Casinobuildings ist eines der Wahrzeichen der Macau Tower (Fernsehturm mit 338 Meter) mit atemberaubenden Ausblicken auf die Stadt.

Macau erstreckt sich über eine Fläche von 115.3 km2 und hat rund 620'000 Einwohner.

--- Ende Artikel / Pressemitteilung Gaming Companies With Macau Interests Fall on Disappointing Preliminary Sept. Revenue Data ---


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