NEW YORK (TheStreet) -- Not long ago, if investors wanted the score of the casino sector, they really only needed to study two regions: Las Vegas and Atlantic City. These days, finding out what it's in the cards for gaming is more like playing 52 pickup, with key casino regions scattered around the globe.
For this reason, each month TheStreet tracks revenues in world's most significant gaming regions to see how they're impacting the major casino stocks.
June, on the whole, showed some improvements, with six of the 10 regions we've tracked reporting increases in gaming revenues. For its part, Macau, rapidly becoming the most profitable gaming market in the world, reported a 65% surge in gaming revenue in June to $1.69 billion.
Singapore, which only recently rolled out its first casinos, is also pegged to be a boon for the sector. Las Vegas Sands (LVS) is practically printing money in the region in the short 65 days that its Marina Bay Sands has been in operation.>>5 Top Casino Stocks: What's The Riskiest Bet? Meanwhile, states, desperate for cash, have looked to expand gaming as a revenue reprieve. Pennsylvania, West Virginia and Delaware recently rolled out table games to boost revenue, while New York is pushing to find a buyer for its Aqueduct Racetrack. Indeed, Pennsylvania is becoming one of the fastest growing markets in the U.S., with revenue jumping 8.2% in June to $98.2 million. The Northeast, on the whole, is experiencing a momentous period of expansion. But as these newer markets ramp up gambling, they are also stealing market share from traditional hubs like Atlantic City and Las Vegas. In June, Atlantic City reported an 11.1% plunge in gaming revenue to $286.8 million, while the Las Vegas Strip was down 6.4% to $450.2 million during the month. Looking ahead, regional gaming revenue will mostly likely remain relatively stagnant, J.P. Morgan analyst Joseph Greff wrote in a note. "We project soft regional gaming revenue results over the next three to six months, as we do not expect to see a significant increase in consumer spending patterns given the uncertain economic environment." To see the most recent numbers for each casino region, click the link below..... -- Reported by Jeanine Poggi in New York.
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