Things are looking up in Macau. The region reported that gaming revenue more than doubled in September - the third consecutive monthly increase.
Also, Las Vegas Sands and Wynn are in the process of initial public offerings of their Macau assets on the Hong Kong exchange. Wynn has announced that it raised US$1.6bn in its offering after it was priced at $1.30 a share, the top of the expected range.
However, despite Macau’s success, investors are still wary of the sector. Wynn shares sank seven per cent to close at $65.60, Las Vegas Sands fell eight per cent to $15.45, MGM dropped 11 per cent to $10.71 and Isle of Capri Casinos was down five per cent at $11.22.
