NEW YORK, NY -- (Marketwire) -- 03/08/12 -- Year to date, gaming stocks have outperformed the broader market as consistent growth in Macau and a recovering Las Vegas strip continue to attract investors to the Resorts and Casinos Industry. In 2012, the Market Vectors Gaming ETF (BJK) -- which replicates an index consisting of publicly traded companies engaged in the global gaming industry -- is up roughly 11 percent. The Paragon Report examines the outlook for the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. (NASDAQ: MPEL) and Wynn Resorts Limited (NASDAQ: WYNN). Access to the full company reports can be found at:
Gambling revenue in Macau rose 22% in February from a year earlier, according to data released last week by Macau's Gaming Inspection and Coordination Bureau. "Given the shift in the 2012 Chinese New Year calendar from February to January, we believe it is more relevant to evaluate gross gaming revenues year-to-date," Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski told investors.
The rate of growth failed to keep up with January, when tourists from mainland China traveling during the New Year week drove casino revenue 35 percent higher.
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Meanwhile in Las Vegas, strip casino gambling revenue rose 3.6 percent last December, bringing the full-year gain to 5.1 percent for a second annual increase as a recovery in the biggest U.S. betting city strengthened. Convention attendance climbed 9.2 percent in the 11 months through November, total visitors rose 4.4 percent and average daily room rates at hotels gained 11 percent, the Las Vegas Convention and Visitors Authority reported.
Statewide in Nevada, casinos collected $10.7 billion in gaming revenues in 2011, a 2.8 percent increase over 2010 and the highest annual jump in four years.
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