Casino News

Asian gambling stocks hit record levels

2007-02-02 16:43:38

Booming casino venues in Macau and Singapore, and the promise of similar developments still to come, are pushing stocks in Asian gambling firms to record levels, it has been revealed.

Genting, the company contracted to build the second casino in Singapore, and Aristocrat Leisure, an Australian firm, have both seen their shares rise by over 40 per cent over the last year, the International Herald Tribune reports.

Online firms such as CryptoLogic are also set to benefit from tie-ups with Asian companies. The leading casino software provider recently announced that it had signed a Memorandum of Understanding with two Asian gaming firms, Brilliance Technology and 568 Network.

Investors acknowledged the role that Asian markets were playing in their financial decisions.
"One of the reasons why we like the gaming sector as much as we do is just Asia. It's an enormous driver," said fund manager Charles Norton, speaking to the International Herald Tribune.

Earlier this month it was reported that Virgin boss Richard Branson was investigating the possibility of setting up a $3 billion casino resort in Macau.


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