Macau Casinos Stocks Rise as Casinos Meet Quota
Throughout Macau, their casinos have stocks with rising numbers. They are meeting their quotas and some – which is giving the stocks in the market a large boost. This is something that the casinos did not see coming, and were once failing when it came to meeting their quotas. They are extremely happy with the outcome though, and wouldn’t want it any other way when it came to being able to provide for the area around them and continue to run, when many other casinos are sinking.
The total casino revenue fell down past 12 percent this year, but the Macau casinos were determined to make that up when they put in their cash for the quarter. The Sands Casino in the area rose over 7% for the quarter, while MGM Casino was close behind them rising over 5% for the quarter. They wanted to be able to make up the difference and rise in an area where they thought many of the casinos would not be able to make it.
The Rise of the Casino Revenue
So many other casinos in the area rose 3-4% more over the course of time, providing an extra boost to the stocks throughout the area, compared to their previous numbers.
Many of the casinos state that they have had numerous tourists throughout the summer come into their doors, which they can thank for this boost in cash for their stocks. This is something that changed over the recent years. When the casinos were first put in, they had a lot of tourists throughout the beginning years and then the once steady flow of traffic to the casinos slowed down to an almost stop – until just recently.
Some people state that this is due to the economy turning around, allowing people to have more cash to work with. This then brings them to go on vacation and spend the money on the many things that they are able to do with it such as use it in the casino resort that is providing them with a place to stay for the time.
One of the biggest problems that the Macau casinos are facing now is the fact that the regulators have stated that there should be a no smoking ban put into effect, as of today, and goes for the casino floor – but not in the VIP rooms. While this might not deter high rollers from going to the casinos since they usually get these rooms, but it can deter many of the tourists that cannot afford these rooms from going to the casino and being able to play because they are not going to be able to smoke while they do so – which is something that they cannot get in the US.
So many are saying the up in the stock prices might go down as more and more people find out about the ban. For more casinos news, check out Casinos Online News.