Sands, others see VIP gains
Las Vegas gambling revenue in May surged 17% vs. a year earlier, to $592.9 mil, which could boost Vegas-based casinos like Las Vegas Sands (LVS), MGM Resorts Int'l (MGM) and Wynn Resorts (WYNN). Increased baccarat play by high-roller "VIP" gamblers led the gain. Gaming revenue for Nev. rose a milder 8.1% to $970 mil in May. Analysts say despite the gain, China's Macau is still far and away the No. 1 global hotspot for casino gambling. Sands shares fell 1.1% to 75.92. MGM fell 1.2% to 26.41 and Wynn fell 0.6% to 206.89.
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