Yahoo Finance's Julia La Roche sits down with executive chairman and former CEO of Starbucks Howard Schultz
|Bid||20.950 x 0|
|Ask||21.000 x 0|
|Day's Range||20.100 - 21.100|
|52 Week Range||11.020 - 21.750|
|PE Ratio (TTM)||74.82|
|Dividend & Yield||0.05 (2.13%)|
|1y Target Est||N/A|
Does Las Vegas Sands’ smaller rival have more room to run?
Over the past five years, Macau has raked in $70 billion in taxes from the casinos that have made the territory the largest gambling center in the world. "They could spend much more," said Eric Sautede, a former Macau university professor, and now a researcher specializing in the former Portuguese colony, referring to infrastructure investment. The southern Chinese territory has zero public debt and had fiscal reserves of $55 billion at the end of 2016, equal to 540 percent of public expenditure that year, according to statistics from Macau's financial bureau.
Casinos in the world's biggest gambling hub of Macau booked a 20 percent rise in revenue in August, the 13th consecutive month of gain, and a month in which two deadly typhoons left as much as half the city without power and water. All casinos in the Chinese territory reported power cuts and water shortages ranging from several hours to as many as four days after the typhoons first hit on Aug. 23, causing extensive damage and killing 10 people. Year-on-year revenue growth nevertheless continued, with August reaching 22.7 billion patacas ($2.82 billion) government data showed.