Casino Stocks (WYNN, LVS, MGM, MLCO) Tumble on China Macao Crackdown

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U.S. casino firms with exposure to Macau tumbled on Wednesday, extending a slump that started in the prior session after officials in the Asian gaming hub said they would tighten restrictions on operators.

Wynn Resorts Ltd. suffered its biggest two-day rout since March 2020 in New York. Las Vegas Sands Corp. dropped 1.7%, while Melco Resorts & Entertainment Ltd. sank 14% and MGM Resorts International slipped 2.5%.