Macau's Rising Tide Lifts All Casinos
Macau's gaming revenue grew 19.6% in the third quarter and everyone with operations in the region benefited. Las Vegas Sands was a clear winner with 32% growth and Melco Crown's City of Dreams grew 28% from a year ago.
Those growth rates aren't surprising because both companies are focused on the booming Cotai region. What was surprising is improvement made on the Macau Peninsula, where Wynn Resorts and MGM Resorts have operations. Wynn's revenue was up 9.6% in the quarter and MGM's EBITDA grew 25%. The Fool's Erin Miller sat down with Travis Hoium to see how this should impact investors' view of gaming stocks going forward.
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The article Macau's Rising Tide Lifts All Casinos originally appeared on Fool.com.Erin Miller has no position in any stocks mentioned. Fool contributor Travis Hoium owns shares of Wynn Resorts. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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