During the last week, shares of some of the largest U.S. casinos rose precipitously to know the latest news about the business of casinos and gambling in Las Vegas over the last months of 2009.
Studied month was November 2009. During that period it was found that gambling winnings were increased by 8.3 percent over the same month last year. This is the first growth that show the casinos of Las Vegas in nearly two years, according to Moody’s Investors Service.
“The overall performance in these markets could be construed as an indicator of the public who frequent casinos in Las Vegas is willing to spend a little more money on gambling,” said Keith Foley, vice president of Moody.
Moreover, as reported by Moody’s reports, this behavior of the casino industry in Las Vegas has not been repeated in other U.S. states. The betting total balances nationally continue to show negative.
“Our main concern is that the unemployment rate to remain high in 2010. This could put additional pressure on the public who frequent casinos and bet money on slots or table games. Please improve the economic situation for the bookmakers, it is more likely that earnings levels of casinos down again, “Foley said.
Shares of Wynn Resorts Ltd. were $ 2.70, or 3.9 percent, reaching $ 72.10. Las Vegas Sands Corp., meanwhile, is listed each of their shares at $ 18.74. In this case, the total increase was only 45 cents. As for MGM Mirage, its shares traded at $ 12.49.
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