Gambling revenue in Macau, China, the world's top gaming destination, climbed 11.5% in February vs. a year ago to $3.39 billion, surpassing consensus estimates for a 9% to 11% increase in revenue.
But some analysts said it's worrisome that the gain came mostly because more middle class Chinese are availing themselves of the entertainment in Macau, according to figures from Macau's Gaming Inspection and Coordination Bureau.
Meanwhile, high rollers who spend more are shying away amid a crackdown by the Chinese government on illegal gambling junkets there.
Las Vegas Sands (LVS), MGM Resorts International (MGM) and Wynn Resorts (WYNN), the top three Vegas casinos, all have multibillion-dollar casinos at the former Portuguese colony, which saw a record $38 billion in gambling revenue last year. And they're building more.