Las Vegas Companies Started Big In 2013

27 December 2012 – By Cristian Dragomir

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Three of the most important online gambling companies in Las Vegas started 2013 off on a high note after stock prices rose on Wednesday, January 2nd. Although the majority of their business interests for these Las-Vegas based gaming companies is in the United States, the international gambling market represents the main reason that is driving the rise of stock prices. Just a day after the fiscal cliff was avoided in the US, gambling operators with interests in Macau reported a successfully trading day.

One of these three giants in Vegas closed the day at $ 48.75 per stock which represents an increase of 5.6%, the largest since the last couple of days in November. The company’s CEO was the first to take a chance in the Chinese enclave of Macau, an important step that helped the gaming firm to prosper when the gambling industry blew up in that area. The second gaming giant in Vegas becomes the most profitable US gaming stock in recent years. Their stock continued its climb this week and closed at $ 118.07, up five per cent from the last day of 2012. The founder of the company stated that his gaming firm has taken an important step in preparing itself for the online gambling boom about to take place in the United States. On Wednesday, another company based in Las Vegas signalled hope for 2013 when their stock closed at $ 17.36, an increase of 3.1%. The good news comes after a slow period, when most online casino gambling companies were hit by the economic recession.

The success of Macau casinos has an important role in the surge in stock prices. After the Macau government ended the monopoly in the gambling industry, revenues from this sector of the economy increased at an important rate. 2011 was a record-setting year but in 2012 casino revenues in this Chinese enclave overcome the figures for the previous year. For 2012, total revenues equalled $ 38 billion up from $ 33.5 billion in 2011. All these three important gambling companies have launched International publicly traded companies over the past few years on the London Stock Exchange.

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