Casino Gaming Sector Moves Higher with Las Vegas Sands News

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Rumor and speculation on Wall Street of a very strong start for the Venetian Macau Resort helped pushed Casino Gaming sector stocks higher today. Several new BUY ratings have also been released by top financial institutions and their analysts. The Venetian Macau, owned and operated by US firm Las Vegas Sands Corporation (NYSE: LVS), was predicted to be become the largest casino in the world. Since it’s recent opening, the casino has not let down investors and the bullish predictions are not so far-fetched. Over the past weekend, the casino saw crowds of over 100,000 people per day, according to a report by CNBC. A total of more than 300,000 visitors entered the resort in a 3-day period.

 

Top analysts had based earnings per share (EPS) estimates on 30,000 people per day, almost 3 times lower than actual figures. In addition to strong opening sales, rumors of another Las Vegas Sands Project similar to Macau helped entice speculators. Shares of Las Vegas Sands rose to over $100 today and finished at $102.50, a 25{7b74b3a9907c9e957bc048ff08033ee69f6c29cad7c6906582d505a26e967d73} increase since June. In the past year, the Casino Gaming Sector has outperformed the S & P 500 Index by almost 4 times.

Past 12 Months:

-Casino Gaming Sector (+47.5{7b74b3a9907c9e957bc048ff08033ee69f6c29cad7c6906582d505a26e967d73})

-S & P 500 Index (+13.05{7b74b3a9907c9e957bc048ff08033ee69f6c29cad7c6906582d505a26e967d73})

Minnesota Casino Partners With Global Payments For Cash Access

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Mystic Lake Casino Hotel and Little Six Casino in Minneapolis, Minnesota has announced an agreement with Global Payments for use of the VIP LightSpeed suite of cash access products.

Cash access from all major payment card networks, as well as credit and debit card cash advance services are now available 24 hours a day, seven days a week at both casinos.

The product that is being used, VIP LightSpeed is an Internet accessible, high speed, computer based system that provides easy cash access.

Senior Vice President of Global Payments Gaming Services, Dean DeCristoforo was pleased with the agreement and had this to say,

Our continued and rapid expansion in the Native American casino industry is a direct result of the exciting technology that we offer through VIP LightSpeed. We are pleased to partner with Mystic Lake Casino Hotel and the Little Six Casino and know our services will prove to be a great benefit to the casinos, providing more convenience and strengthen patron loyalty.”

Global Payments Inc. already is a leader in their field, which includes services such as processing services that are for a wide range of customers including merchants, government agencies, and multi national corporations. Their products also serve as an outlet for credit and debit card processing, business to business purchasing cards, gift cards, check guarantee, and terminal management, among other things.

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