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The casino space has had a lot of visibility in the last week or two, especially gaming concerns with large operations in Macau, the biggest gambling hub in the world now. Las Vegas Sands (LVS) posted results that were much better than expected, but the stock sold off after earnings posted. This was probably the result of the strong run up in the stock in the month prior to earnings. The other concern that investors seem to have is that growth in Macau is slowing, probably due to other casino properties opening there. Interestingly, its property in Singapore, Marina Bay Sands, had a blowout quarter with revenues up 45% year over year. Its Vegas properties also had a very strong quarter and grew revenue north of 25%.
The other big announcement in the industry was that Wynn Resorts (WYNN) received government approval to build another casino in Macau. While these two casino heavyweights dominated the news, several small domestic casino operators reported much better results that speak to a recovery in the North American gaming market. Here are some earnings reports investors might have missed on three companies that look like good long-term bets....442 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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