Macau, China’s lone gaming region and the largest gaming hub in the world, saw gaming revenue jump 5.9% in June from a year earlier to $2.95 billion and in turn was lifting shares of gaming companies with exposure to the region.
The 5.9% jump was nearly double the 1% to 3% increase analysts were expecting for the month.
Las Vegas Sands (LVS) shares rose 4.5% to $61.74 in trading Monday, while MGM Resorts (MGM) shares was up 0.95% to $28.84. Wynn Resorts (WYNN) gained 6.7% to $132.32.
June was the second straight month of positive growth for the gaming region and the third time this year that revenue rose year over year. For the first half of 2019, however, Macau’s gaming revenue is still down about 0.5%.