Wynn Resorts and Las Vegas Sands are trying something new, an IPO of their holdings in Macau

Jennifer McClelland | RSS | Mon, Oct 12 2009 | 2 Comments

Las Vegas has been hit hard by the recession. However, this isn’t the case around the world. In the Chinese region of Macau, gambling revenue is up and there are two companies that are really wanting to cash in on the hot commodity that seems a world away from recession-battered Las Vegas.

Wynn Resorts (WYNN) and Las Vegas Sands are both planning initial public offerings of their subsidiaries in Macau. If you would believe it, only a third of the revenues for both companies come from Las Vegas, the other revenues come from these subsidiaries in Macau.

This IPO news came out not too long ago and since then more people have been seen at the casinos. It has been so popular that the Chinese government has limited how often a citizen can travel to Macau to gamble.

Gambling in Macau isn’t too different than gambling in the United States. You can participate in poker tournaments, sports betting, roulette, and all the other games that you could possibly think of that draw people into the domestic casinos.

I believe that most of you already know how I feel about casinos. I would rather spend my money doing something that I actually enjoyed, but to each their own. I know plenty of people who really enjoy spending time at a casino.

As far as the IPO is concerned, these companies are generating jobs abroad for countries that really need a boost to their economy as well. That’s alright I suppose because obviously the gambling industry isn’t doing so well in the United States right now.

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Tags: recession, wynn resorts, ipo news