Casinos hurt by Macau report

Investor's Business Daily

Shares of Las Vegas Sands (LVS), MGM Resorts (MGM) and other casinos fell early Thu. after Macau's gov't said gambling revenue growth in the world's top gambling destination was slower than expected in Sept. vs. last year. Revenue rose 12.3% to $2.99 bil, the 2nd-weakest revenue figure this year. Analysts expected 15%-17% growth. Weak global economic growth has curbed visitors to China's only legal casino gambling district. Sands shares fell 2.2% to 45.10. MGM fell 1% to 10.47, and Wynn Resorts (WYNN) fell 0.7% to 114.02.

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