Adelson optimistic on Macau
Sheldon Adelson is optimistic recreational gamblers and tourists are spurring a recovery in Macau’s hard-hit casinos industry, as Las Vegas Sands Corp reported mass-market gaming revenue in the Chinese city rose in June for the first time in two years, Bloomberg reported.
Casino stocks have rallied in the past only to retreat after a turnaround to Macau’s two-year gambling downturn seemed elusive. The latest sign of a recovery comes as the former Portuguese enclave is in the midst of a casinos building boom, with the US$4.1 billion Wynn Palace scheduled to open on August 22 while Sands China’s US$2.7 billion Parisian project is slated to open on September 13.