(Macau gaming article updated with casino stock price movements.)

NEW YORK ( TheStreet) -- Casino operators surged following the news that Macau gaming revenue spiked 63.3% in January, hitting a record $1.58 billion.

Casinos like Las Vegas Sands ( LVS - Get Report) and Wynn Resorts ( WYNN - Get Report) have been relying heavily on Macau, as gambling remains weak in regional gaming markets and on the Las Vegas strip.

Last year, both Sands and Wynn completed initial public offerings of their Macau assets to rake in about $4.13 billion combined.

MGM Mirage ( MGM - Get Report) is following in their footsteps, looking to move forward on its initial public offering of its Macau assets.

Melco Crown Entertainment ( MPEL), which has all of its operations in the Chinese gambling hub, is set to report its quarterly results on Tuesday.

Shares of Las Vegas Sands ended the day up 10.4% to $17.11, while MGM rose 6.9% to $11.82, Wynn increased 5.9% to $65.54 and Melco advanced 5.3% to close at $3.76.

-- Reported by Jeanine Poggi in New York

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