Why Are Casino Stocks WYNN, LVS Down Today?

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Review Journal

Macao regulators release July gaming revenue results

Macao casinos had their best month of 2023, one year after having their worst month of 2022. Macao's Gaming Inspection and Coordination Bureau on Tuesday reported gross gaming revenue of $2.075 billion (U.S), the most won in the special administrative region since January 2020. By comparison, the state of Nevada last week reported gaming win of…

Finance ・ 02 August 2023

Tekedia

Top 5 Largest Casino Operators in Canada

While most people associate casinos with Las Vegas or Atlantic City, several sites are located in Canada. They are run by various operators, each of whom is responsible for the casino's day-to-day operations. Operators in Canada must obtain a Canadian government license to operate the best gambling websites with the best no deposit casino…

Land-based ・ 01 December 2022

Vegas Slots Online

Casino Tycoon Tilman Fertitta Buys 6% of Wynn Resorts

Casino tycoon Tilman Fertitta has acquired 6% of Wynn Resorts. A Securities and Exchange Commission (SEC) filing made public over the weekend revealed that the Golden Nugget casino chain owner bought 6.9 million shares in Wynn Resorts on October 19. There were no details regarding the price Fertitta paid for the stake. Any time an individual…

Travel ・ 01 November 2022

Kalkine Media

Kalkine Media explores five US casino stocks to watch in October

The casino sector comprises firms from the gaming industry that offer leisure and other related services through their resorts and casino gaming properties. To name some, Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), MGM Resorts International (NYSE: MGM), Caesars Entertainment, Inc. (NASDAQ: CZR), and Boyd Gaming…

Finance ・ 22 September 2022

Wild Casino

$5,000 Welcome Bonus

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Casino City Times

This Week in Gambling: Las Vegas losing millions to Macau COVID lockdown

This week's gambling news comes from Las Vegas via Macau, China, which has been shut down for two weeks due to the latest coronavirus outbreak. Our Macau lockdown update finds this new surge of COVID-19 could cost Macau billions, and is already costing Las Vegas gaming companies like MGM Resorts, Wynn Resorts, and Las Vegas Sands millions. As the…

Covid ・ 28 July 2022

The Street

Las Vegas Casinos Should See Bump From Macau Reopening

Macau has been in dire straits for more than the past week. Earlier this month, the Chinese government announced that it would close all casinos in Macau starting July 11 as the region battles a covid-19 outbreak that infected nearly 1500 people over a three week period in the city of 680000. During previous outbreaks, the Chinese government had…

Land-based ・ 21 July 2022

Review Journal

Macao casino shutdowns extended five days

Stock market prices for the affiliates of three Las Vegas companies operating in Macao began rebounding Monday, even after a weeklong government-ordered casino shutdown was extended by five days. The casino lockdown, which began July 11 and had been set to expire Sunday, is now scheduled to end July 23. Analysts have estimated the closures will…

Covid ・ 18 July 2022

Review Journal

Macao extends lockdown by 5 days, 3 Las Vegas based casinos affected

HONG KONG - The Chinese gambling enclave of Macao on Saturday extended its lockdown by five days as it grapples with the biggest outbreak of the coronavirus in over two years. Authorities said that industries and commercial companies will remain closed until July 23. The lockdown, which began July 11, had been set to expire Sunday. The shutdown…

Covid ・ 17 July 2022

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Proactive

Casino Stocks, Oil Prices Tumble On China Lockdowns

Oil futures and casino stocks sank Monday on fresh Covid-19 news out of China. Natural gas prices bolted on the scheduled shutdown of the Nord Stream pipeline, cutting Russia's gas supply to Germany, amid already sky-high demand and tight supply. On Monday morning, Macau - an administrative region in China and the world's largest gambling hub -…

Covid ・ 11 July 2022

The Street

Las Vegas Strip Casino Leaders Take Unexpected Covid Hit

Covid crushed the travel business and few cities took a bigger hit than Las Vegas. Under orders from Nevada Gov. Steve Sisolak (D), the city's casinos, hotels and restaurants closed for roughly two months in the early days of the pandemic. The reopening of Sin City was a slow process, with the two biggest Las Vegas Strip players -- Caesars…

Covid ・ 11 July 2022

Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

Markets Insider

Casino Stocks WYNN, LVS, MGM, MLCO Gain on Easing Covid-19 Restrictions

China is finally starting to lift its lockdown protocols. According to Bloomberg, the country is now "reporting the lowest number of new cases since early February." On top of that, the nation is reducing the required quarantine time for international travelers. This means that the Chinese economy is clear to start making up lost ground. For the…

Covid ・ 28 June 2022

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TipRanks

Las Vegas Sands Betting On Lifted Restrictions

Las Vegas Sands (LVS) shares have been dragged down from China and Singapore imposing lockdowns and restrictions on mobility to limit the resurgence of COVID-19, and therefore are down about 8% thus far this year. I am bullish on this stock. But as the current wave of COVID-19 is waning, yet again, investor visibility into the future for the…

Covid ・ 06 June 2022

Review Journal

Macao gaming revenue slumps by 68 percent in May

On the day Chinese authorities lifted COVID-19 restrictions in Shanghai, Macao's Gaming Inspection and Coordination Bureau reported another steep decline in gross gaming revenue for the month of May. The bureau that monitors gaming revenue for Macao's 41 casinos - including several owned and operated by three Las Vegas-based companies - reported…

Finance ・ 02 June 2022

Vegas Slots Online

Why Are Macau Casinos Struggling in Pandemic Recovery?

Commenting in August 2020, analysts from investment bank JP Morgan predicted that the Macau gambling market would begin its road to recovery from the COVID-19 pandemic in mid-August that year. They estimated that casinos would recuperate 2019 levels of gross gaming revenue (GGR) by Q32021, pointing to the easing of travel restrictions and an…

Covid ・ 03 April 2022

Reuters

Macau government extends casino licences to December

HONG KONG, March 3 (Reuters) - Casino companies in Macau will have their licences extended by six months, public broadcaster TDM reported on Thursday, citing a city official, allowing more time for a highly anticipated rebidding process in the world's biggest casino hub. Economy and Finance Secretary Lei Wai Nong, speaking after a Legislative…

Travel ・ 03 March 2022

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The Motley Fool

Investing in Casino Stocks

A night at the casino might seem like an experience frozen in time -- imagine visions of James Bond or pressing your luck at the craps table -- but the casino industry is changing fast, and new developments present a unique opportunity for investors. Online gaming is becoming legal in many U.S. states, and both old-school casino chains and upstart…

Finance ・ 31 January 2022

Investor Place

Casino Stocks: Why LVS, MLCO and WYNN Are Getting Buy-In Today

Casino stocks are on the move today thanks to a recent report out of China's Macau. This new report has the Chinese government weighing in on casino operations in the country. While investors expected bad news, the results from a meeting don't appear too bad for casino stocks to handle. According to that recent report, casinos will have to deal…

Finance ・ 23 December 2021

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…

Covid ・ 01 December 2021

Skift

Las Vegas Sands CEO Praises China While Macau License Up for Renewal

Macau is an extraordinarily important gaming market for Las Vegas Sands, and the company's third quarter earnings call was a giant love fest for China's gaming regulators. What else are company leaders going to do but schmooze the people in charge of renewing their gaming license? Now is apparently not the time for Las Vegas Sands leadership to…

Industry ・ 21 October 2021

Forbes

Vegas-Based Casino Stocks Weaken On Macau Regulatory News

Big U.S. casino stocks this week tanked on news that Chinese officials would increase regulatory scrutiny in Macau. The companies with the largest operations there - Las Vegas Sands and WYNN - took it the hardest with both down more than 10% in the last 4 days. Those resort equities with little or no exposure in Macau also got hit but with much…

Finance ・ 18 September 2021

Mint

Covid-19 has China’s gambling hub on a long losing streak

Business remains muted in the once-bustling casinos of Macau more than a year and a half into the Covid-19 pandemic, while gambling operators wait for tourists to return en masse to the Chinese city. In August, gross gambling revenue in Macau slumped to the equivalent of $554 million, its lowest monthly total this year and a far cry from the $3…

Covid ・ 01 September 2021

Forbes

Buy Las Vegas Sands Stock For Long-Term Gains

The shares of Las Vegas Sands (NYSE: LVS) have lost 20% in value since the announcement of the sale of its Vegas property in March. The re-introduction of restriction measures in Guangdong are weighing on the stock as the company now remains highly dependent on its Macau business. In 2019, LVS' Macau properties contributed $8.8 billion of $13.7…

Travel ・ 03 August 2021

TipRanks

MLCO, MGM, or LVS: Which Casino Stock Could be the Best Bet in 2023?

Stocks of casino operators with exposure to Macau, an administrative region in China and a major gambling destination, have rallied recently on hopes of strong recovery following the easing of COVID-19 restrictions. Moreover, Macau granted new licenses to six casino operators in late 2022 for a period of ten years. Additionally, certain analysts…

Land-based ・ 11 January 2023