NEW YORK, NY / ACCESSWIRE / June 2, 2017 / Las Vegas Sands Corp. and Wynn Resorts were among many casino stocks to see gains on Thursday after Macau's May report showed that the mecca had seen a gain of nearly 24%, way ahead of the 15-20% that analysts according to Reuters had called for.

RDI Initiates Coverage on:

Las Vegas Sands Corp.
https://ub.rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited
https://ub.rdinvesting.com/news/?ticker=WYNN

Las Vegas Sands Corp. closed up 4.94% on strong volume yesterday after gaming revenue from Macau significantly beat estimates and sparked investor confidence in the casino industry. Macau is the world's largest gambling area in the south coast of China and the only place in China where it is legal to gamble. Macau has now seen ten consecutive months of growth in gaming. According to government data, gaming revenue in Macau climbed 23.7% in May to $2.83 billion. In April it saw a 16% increase. Telsey Advisory Group casino analyst David Katz remarked in a note to clients, "We believe a strong start to June could lead to the Street's estimates, and ours, to move higher ahead of earnings reporting season in mid-July." "Coupled with the 16.3 percent growth in April, we believe it is a fair conclusion that the new properties in the market, including LVS' Parisian and WYNN's Palace are growing the market rather than cannibalizing the existing properties."

Access RDI's Las Vegas Sands Research Report at:
https://ub.rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited shares closed up 3.80% on Thursday and hit a new high of $135.26. The stock was one among many casino stocks to see big gains yesterday after the latest figures showed that Macau revenue had grown 23.7% last month. This not only marked the tenth straight month of gains in the area, but also beat estimates. Estimates had only called for 15 to 20% in growth. Wynn Resorts has a new property in Macau called the Wynn Palace that just finished its second full quarter of operations. Even with the resort surrounded by construction in the first quarter, it still made $111.9 million in adjusted EBITDA. The $4.2 billion resort has been the company's biggest bet on gaming in Macau and helped Wynn's revenue increase 48% year-over-year.

Access RDI's Wynn Resorts Research Report at:
https://ub.rdinvesting.com/news/?ticker=WYNN

Our Actionable Research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN) can be downloaded free of charge at Research Driven Investing.

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