Las Vegas Sands (LVS) stock is soaring 7.10% in Tuesday's pre-market trading session, following reports of robust gambling revenue growth in Macau. The surge comes as the Asian gambling hub reported a significant 19% year-over-year increase in its June gambling revenue, reaching 21.1 billion patacas ($2.61 billion).
The positive news from Macau is having a ripple effect across U.S. casino stocks with operations in the region. While Las Vegas Sands is leading the pack with its impressive gain, other major players in the industry are also seeing notable increases. Wynn Resorts and the U.S.-listed shares of Melco Resorts have each gained 3.5% in early trading.
This upward movement underscores the significance of Macau's recovery for Las Vegas Sands and its peers in the casino industry. As one of the largest operators in Macau, Las Vegas Sands stands to benefit substantially from the region's resurgence. Investors appear to be betting on continued growth and improved financial performance for the company in the coming months, driven by the robust recovery in Macau's gambling sector.
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