Top Gambling and Casino Stocks for 2009

Published December 6, 2009 by OCR Editor

Top Gambling and Casino Stocks for 2009

Casino gambling stocks are volatile, but there are some solid performers like PartyGaming and 888.

Amidst all the hubbub of the 2009 challenges, the online casino industry has once again proven itself largely resilient.

The big Performers
The strongest performers have been the shares of Macau casino operators. A 59% increase in share prices from a 2008 year-end figure was recorded. Macau casino revenue was recorded at $1.55 billion.

Wynn Resorts, Limited (NasdaqGS: WYNN) recorded a 7.3% jump to a two-week high of HK$10.50.

The share price of Galaxy Entertainment Group (HKEx stock code: 27) rose 5.9 percent to HK$3.60.

SJM Holdings Limited (0880.HK) gained 5.1 percent to a reach a three-week high of HK$4.35.

The share price of the newcomer - Sands China - the Macau unit of the Las Vegas Sands Corporation (NYSE: LVS) rose 5% to close at HK$10.02.

Melco International Development Limited (0200.HK) also rose 3.9 percent to a two-week high of HK$4.25.

Top performing online gaming companies have wrested the initiative away from biting recessionary fears. Big names like PartyGaming and 888 have recorded sound earnings and currently boast steady player numbers. Other top gaming companies are likely to follow suit.

Stock Volatility vs Gaming Sustainability
In spite of the prodigious twists and turns in gambling stocks, the industry as a whole is robust. Gambling tycoons such as Sheldon Adelson of Sands China are firmly in favor of developing Macau's Cotai Strip resort into a full-service gaming venue.

Indeed the Sands raised $5 billion for its Macau expansion operations recently. Sheldon Adelson is dismissive of any slump in the share price as ‘...a little bump in the road.' While the short-term outlook is a little turbulent, the gambling pundits of the world are plenty ebullient about the long-term.

See also

Dust Settles on Poland's Recent Gambling Ban

Bwin and PartyGaming 2 Billion Merger


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