Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, surged to a record in Hong Kong after reporting third-quarter earnings that beat analyst estimates as its new resort drew more gamblers.
Galaxy Entertainment Group Ltd. founder Lui Che-Woo’s wealth has leaped by $10.2 billion this year -- and $1 billion in just one day yesterday -- as Macau draws record gaming revenue and his shares hit a new high.
Across the way from casino mogul Stanley Ho’s Grand Lisboa in Macau, flashing neon lights lure cash-strapped gamblers to pawn their Rolexes and other trinkets and take another tilt at the gaming tables.
Casino gambling revenue in Macau, the world’s biggest betting hub, probably increased 70 percent in the first week of June from a year earlier, Deutsche Bank AG analyst Karen Tang said, prompting her to raise her annual forecast.
Gamblers booked into Macau resorts over the Lunar New Year can already count themselves lucky as accommodations are sold out, boosting revenue for operators including billionaire Sheldon Adelson’s Sands China Ltd.
Wynn Macau Ltd. led gains in Hong Kong-listed gambling stocks after Deutsche Bank raised its estimate for casino revenue growth in Macau to 25 percent this year on spending by wealthy Chinese tourists.