Latest news with #MacauGaming
Yahoo
2 days ago
- Business
- Yahoo
Las Vegas Sands (LVS) Soars 8.89% as Macau Gaming Raises Revenue Prospects
Las Vegas Sands Corp. (NYSE:LVS) is one of . Las Vegas Sands jumped by 8.89 percent on Tuesday to close at $47.38 apiece as investors scooped up shares following news that Macau's gaming revenues in June surged by 19 percent year-on-year. On Tuesday, the Gaming Inspection and Coordination Bureau of Macau said that gaming revenues last month increased by $417 million to close at 21.06 billion patacas or $2.6 billion. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. The dazzling Las Vegas Strip lined with luxury Integrated Resorts, seen from a high elevation. Las Vegas Sands Corp. (NYSE:LVS) rallied alongside its counterparts, namely MGM Resorts International (NYSE:MGM) and Wynn Resorts Ltd. (NASDAQ:WYNN), on expectations that the higher GGR would reflect in their financial performances in the second quarter of the year. While we acknowledge the potential of LVS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 days ago
- Business
- Yahoo
Wynn Resorts (WYNN) Surges 8.8% on Macau Gaming Revenue Jump
Wynn Resorts Ltd. (NASDAQ:WYNN) is one of . Wynn Resorts saw its share prices surge by 8.85 percent on Tuesday to finish at $101.96 apiece as investor sentiment was fueled by the surge in Macau gaming revenues last month. During the session, Wynn Resorts Ltd. (NASDAQ:WYNN) rallied alongside its peers after the Gaming Inspection and Coordination Bureau of Macau reported a 19 percent or a $417-million increase in gross gaming revenues (GGR) in June, at 21.06 billion patacas ($2.6 billion) versus the same period last year. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. Aerial view of a luxury hotel tower surrounded by lush green landscaping. The positive news spilled over to casino operators MGM Resorts International (NYSE:MGM) and Las Vegas Sands (NYSE:LVS) on optimism that the higher GGR would reflect in their financial performances in the second quarter of the year. While we acknowledge the potential of WYNN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
