Wednesday, Dec. 1, 2010 | 9:07 a.m.
Shares of casino operators with properties in Macau climbed Wednesday as new figures revealed gaming revenue rose 42 percent in the Chinese enclave in November.
Macau is the only place in China where gambling is legal. Las Vegas Sands Corp., MGM Resorts International, Wynn Resorts Ltd. and Melco Crown Entertainment Ltd. are among the companies with casinos there.
While Macau's gaming revenue increased strongly from a year ago, the performance was down 8 percent from October, which benefited from the China National Day holiday, according to a client note by JPMorgan's Joseph Greff.
Macau's 42 percent year-over-year rise in gaming revenue topped the 24.4 percent increase Greff predicted, as well as the 29 percent growth estimate of Carlo Santarelli of Wachovia.
Las Vegas Sands' stock gained $1.57, or 3.1 percent, to $51.65 in morning trading, while shares of MGM Resorts added 25 cents, or 2.1 percent, to $12.47. Wynn Resorts' stock rose $4.04, or 4 percent, to $105.14, while shares of Melco Crown climbed 19 cents, or 3.2 percent, to $6.16.
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