Casino Stocks WYNN, LVS, MGM, MLCO Gain on Easing Covid-19 Restrictions
Source: Maridav|Shutterstock, Inc. 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 companies that operate the country’s largest casinos and resorts, that means a significant bump. Casino stocks are rising on the news, including U.S. names. Several of the largest U.S. casino companies have holdings in China. Today, these stocks are all enjoying a nice boost. MGM Resorts International (NYSE: MGM ) is up less than 1%. Meanwhile, both Las Vegas Sands (NYSE: LVS ) and Wynn Resorts (NASDAQ: WYNN ) have spiked by about 5%. Lastly, Hong Kong-based Melco Resorts Entertainment (NASDAQ: MLCO ) is up by more than 8%. Casino stocks looked primed to rise even higher as the day continues. Here’s what investors should know.
Casino Stocks WYNN, LVS, MGM, MLCO Gain on Easing Covid-19 Restrictions
Source: Maridav|Shutterstock, Inc. 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 companies that operate the country’s largest casinos and resorts, that means a significant bump. Casino stocks are rising on the news, including U.S. names. Several of the largest U.S. casino companies have holdings in China. Today, these stocks are all enjoying a nice boost. MGM Resorts International (NYSE: MGM ) is up less than 1%. Meanwhile, both Las Vegas Sands (NYSE: LVS ) and Wynn Resorts (NASDAQ: WYNN ) have spiked by about 5%. Lastly, Hong Kong-based Melco Resorts Entertainment (NASDAQ: MLCO ) is up by more than 8%. Casino stocks looked primed to rise even higher as the day continues. Here’s what investors should know.