The Bedford Report Provides Analyst Research on Las Vegas Sands and Melco Crown Entertainment
Feb. 18, 2011 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 02/18/11 -- This earnings season resorts and casinos with a heavy presence in Macau faced significant pressure to put up strong numbers. Macau surpassed the Las Vegas Strip as the world's gambling core in 2006 after the government allowed overseas casino operators to enter the region. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides research reports on Las Vegas Sands Corp. (NYSE: LVS) and Melco Crown Entertainment Ltd. (NASDAQ: MPEL). Access to the full company reports can be found at:
According to Macau's tourism agency, visitor arrivals in the gaming hotbed rose 15 percent to 22.7 million in the first 11 months of 2010. These numbers are only likely to improve going forward as the Macau-China border gate is set to expand its capacity to more than double its current size for the Chinese New Year, leading more gamers into the tiny region. In fact, CLSA Ltd projects that Macau gaming revenues could surge 30 percent to $30 billion this year as visitors from mainland China increase.
The Bedford Report releases regular market updates on the Resorts and Casinos Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Las Vegas Sands generates over 75% of its earnings from holdings outside of the United States with operations in Macau and Singapore garnering most of the attention. Earlier this month the company recorded adjusted earnings of 42 cents per share in the fourth quarter of 2010, easily beating the year-earlier results of 3 cents a share. Revenues were up nearly 16 percent year over year to $661.5 million at The Venetian Macau while revenues at the Sands Macau increased 12 percent to $319.3 million. Sands' CEO Sheldon Adelson said the company is seeking more land to expand its casino complex in Singapore due to strong demand for convention and exhibition space. Sands' fourth quarter revenues were $560.4 million in Singapore, up 15.3% sequentially.
Adelson added that Las Vegas Sands is talking to local governments in Spain about building a Vegas-style strip in the nation.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
The Bedford Report