Credit rating service Fitch raised its outlook for gambling revenue in Macau, the latest in a string of upbeat reports on the Chinese gambling enclave. Shares of Las Vegas Sands (LVS) and other U.S. casinos with large holdings there rose sharply. Fitch now expects Macau gambling revenue to rise 11% in '13, up from its prior 8% forecast. Macau officials recently said gambling revenue jumped 25% in March, to nearly $4 bil, a new monthly record. Sands shares rose 3.6%. MGM Resorts Int'l (MGM) lifted 3.1% and Wynn Resorts (WYNN) jumped by 3.9%.
- Gaming & Lottery
- Las Vegas Sands