LOS ANGELES/HONG KONG — Billionaire Sheldon Adelson is optimistic that recreational gamblers and tourists are spurring a recovery in Macau’s casino industry, as Las Vegas Sands reported mass-market gaming revenue in the Chinese city rose in June for the first time in two years.The comments helped spark a rally in casino stocks after the company reported that its Macau unit, Sands China, saw earnings before interest, taxes, depreciation and amortisation fall 14% to $487.7m in the second quarter, missing analysts estimates.While weak revenue from high rollers hurt profit, mass-market revenue recorded the first month of growth since September 2014, according to the parent company.Casino stocks have rallied in the past only to retreat after a turnaround of Macau’s two-year gambling downturn seemed elusive. The latest sign of a recovery comes as the former Portuguese enclave is in the midst of a casino building boom, with the $4.1bn Wynn Palace scheduled to open on August 22, while Sands...
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