Thursday, January 20, 2011

Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN) Getting 30% Revenue Boost from Macau Says CSLA

According to CSLA, their prior projection of a 20 percent increase in revenue from Macau for Las Vegas Sands Corp. (NYSE:LVS) and Wynn Resorts Ltd. (NASDAQ:WYNN) was too low, and they raised their revenue estimate to $30 billion, a 30 percent increase in 2011.

Much of that is predicated on a huge number of Chinese from the mainland visiting the resorts.

CSLA said, “Improvements in the macro environment as well as China’s tourism push should result in higher average spending and hence revenues.”

A total of 22.7 million visitors came to Macau in the first 11 months of last year, with those coming from mainland China increasing by 20.5 percent, added CSLA.

Las Vegas Sands closed Wednesday at $46.43, dropping $0.75, or 1.59 percent. Wynn Resorts closed at $118.18, falling $0.68, or 0.57 percent.