2 Casino Stocks to Consider as Macau Eases COVID Restrictions
Shares of casino operators Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) spiked about 12% following the news that Macau, a Special Administrative Region of China, is easing COVID-led restrictions and will soon allow visitation. Easing Restrictions Is a Positive This is a sigh of relief for Wynn Resorts and Las Vegas Sands. Notably, Macau is a gambling hub and a significant source of revenue for these companies. The strict COVID restrictions led to a plunge in tourism, thereby impacting the revenue and profitability of these companies. For instance, Las Vegas Sands’ revenue from Macau operations fell 43% in the first six months of 2022.
2 Casino Stocks to Consider as Macau Eases COVID Restrictions
Shares of casino operators Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) spiked about 12% following the news that Macau, a Special Administrative Region of China, is easing COVID-led restrictions and will soon allow visitation. Easing Restrictions Is a Positive This is a sigh of relief for Wynn Resorts and Las Vegas Sands. Notably, Macau is a gambling hub and a significant source of revenue for these companies. The strict COVID restrictions led to a plunge in tourism, thereby impacting the revenue and profitability of these companies. For instance, Las Vegas Sands’ revenue from Macau operations fell 43% in the first six months of 2022.