US gaming stocks gain on strong Macau numbers

U.S. casino operators gained Monday as Macau gambling revenues beat expectations and posted an eighth straight monthly increase.

Macau, the world’s biggest casino hub, saw revenue in March rise 18 percent vs. analysts’ expectations of 12 percent to 16 percent growth. Revenue in the Chinese province can be three or four times that of Nevada.

Newly opened resorts continue to draw high rollers and more casual gamblers.

China’s campaign against corruption and shows of wealth by public officials had dried up the stream of VIP spenders from the mainland for last several years.

Wynn Resorts ended up 1.73 percent, Las Vegas Sands was up 0.19 percent and MGM Resorts at 0.35 percent.

The Dow Jones U.S. Gambling index has gained 7 percent so far this year vs. the S&P’s 5.5 percent advance.

The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.