Las Vegas Sands Stock Holds As Macau Casino Revenue Rises
- By Ryan Blalock
- Published 03/2/2010
- Gaming Stock News
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Las Vegas Sands Las Vegas Sands has one of the biggest presences in Macau and the Asian gaming market, but investors in the US did not respond to good news from Macau Tuesday. As word surfaced of a major casino revenue increase in Macau, Sands stock stayed stagnant in the US.
For the day, Sands stock was up .12%, or $.02. The stock closed the day at $17.11, still faring better than some of the other companies in the US market. Sands is having better luck on the Hong Kong market, with their price rising after the news Tuesday.
Other gaming companies with interests in Macau are Wynn Resorts and MGM Mirage. Wynn stock in the US was up almost one percent, finishing Tuesday at $66.87. It remains the most lucrative of all the US-based gaming stocks.
MGM Mirage is preparing for an initial public offering in Asia, but for now is relying on their US stock price to carry investors. MGM closed at $10.69, down .28%. The stock is up $.60 since the last week in February.
While many of the gaming companies had minimal gains Tuesday, others had their prices slip. Melco Crown Entertainment was down 3.22%, to $4.21, and the Archon Corporation fell $1.50, or 8.11%. Archon stock finished the day at $17 a share.
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2 Responses to "Las Vegas Sands Stock Holds As Macau Casino Revenue Rises" 
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said this on 02 Mar 2010 10:52:39 PM EST
CEO on CNBC says LVS is going to its 2007 highs by 2011. I'm in.
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said this on 03 Mar 2010 6:16:04 PM EST
Me too! I'm in for the long term.
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