Search
 

Gaming Index Rises for Third Consecutive Month

LAS VEGAS-The 8.7% increase in August, attributable to the performance of Las Vegas Sands Corp. and Wynn Resorts Ltd., drives the Index to the highest level in its 10-year history.

By Brian K. Miller | Updated on September 04, 2007

LAS VEGAS-The Applied Analysis Gaming Index increased 8.7% in August, reaching the highest level in its 10-year history. Key drivers of the increase were relatively strong mid-year earnings reports and speculation surrounding the Asian gaming market.

Launched by locally based Applied Analysis in January 1998 with a value of 100, the Index tracks the daily stock price of nine publicly traded gaming-related companies with significant operations in Nevada. The August increase, the third consecutive monthly increase, took the Index to 514.81.

The rise was attributable to the performance of Las Vegas Sands Corp. and Wynn Resorts Ltd., the most heavily invested in Macau, China, of all the Index companies. Las Vegas Sands daily average share price jumped 20% in August as it unveiled its new casino there, the Venetian Macau. The $2.4-billion casino resort is home to the world’s largest casino floor (550,000 sf).

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.