Macau, Philippine Casino Operators Witnessed Strong Growth In 2017
Asian gambling operators have been posting big returns for 2017. Casino operators who had operations in Macau and the Philippines had a great year as their stocks witnessed a strong surge in growth.
Compiled from the data gathered by investment research firm Morningstar Inc., the report shows that the region's casino operators experienced solid growth, with stock increases recorded over the entire year. The best performer out of all the casino operators is the Asian market is Wynn Macau Ltd despite the most recent typhoon damage to the area.
The stock which is listed on the Hong Kong Stock Exchange ended 2017 at HK$24.75 per share which is the equivalent of $3.17. This is a 101 percent increase from the beginning of 2016, when the stock was pegged at HK$12.34.
The other five Macau operators posted similar increases, but not as impressive as Wynn Macau Ltd. Galaxy Entertainment was one of the big winners with an 86 percent increase. The lowest rise was set at 15 percent by SJM Holdings.
The Philippines also experienced a meteoric rise, with the country's best stock performer posting a 96 percent increase. This was Melco Resorts and Properties who owns and operates the City of Dreams Manila. Its closest competitor, Bloomberry Resorts Corp who owns and operates Solaire Resort and Casino, posted a 77 percent rise in stock price. The operator of Resorts World Manila, Travellers International Hotel Group Inc, are the weakest performers in the country with only a 21 percent increase.
South Korea is another place where casino operators have posted good revenues. South Korea’s casino industry primarily caters to foreigners as locals are not allowed to enter the casinos except for Kangwon Land. Grand Korea Leisure Co Ltd posted a 43 percent increase in 2017 but its rival Paradise Co Ltd performed even better and recorded an 84 percent increase last year. Kangwon Land Corp the operator which runs Kangwon Land did not have a good year and registered a 3 percent decline, thanks to the government's attempts to constrain gambling revenue.
Singapore, Malaysia, and Cambodia are some of the other Asian countries that have witnessed a strong gaming market in 2017. Genting Singapore Plc, who owns Resorts World Sentosa, saw a 44 percent increase in their stock price. Malaysian firm, Genting Malaysia Bhd which operates the Resorts World Genting recorded a 23 percent increase while Cambodia's NagaCorp Ltd which operates Nagaworld witnessed a 35 percent increase last year.
Paul ButcherAuthor
Hi, I am the Chief Editor of top10casinowebsites.net, this site is dedicated to all thing casino. I have been working around the casino industry for the last 12 years, with different brands. The main purpose of this site is to keep you informed with the latest news and offers around
