Casino stocks rise as Macau relaxes regulations

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Forbes

Casino Stocks Rally As Macau Gambling Revenues Come In Strong

You'll be asked to sign into your Forbes account.Got it While investors greeted the first day of 2023 trading with big selling in classic tech favorites like Apple and Advanced Micro Devices, buyers showed up in large numbers among the classic casino names. This, after Macau reported "gross gaming revenues" increased 333% in 2023 versus 2022. Those…

Finance ・ 03 January 2024

Investor Place

Why Are Casino Stocks WYNN, LVS Up Today?

Casino stocks are rallying higher on Tuesday on hopes that China will continue relaxing its Covid-19 policies. Those restrictive policies kept a tight lid on local economies and drew the ire of its citizens. Now, investors are looking at potential upside in the country. Wynn Resorts (NASDAQ: WYNN) and Las Vegas Sands (NYSE: LVS) are up about 5% and…

Finance ・ 27 December 2022

Capital

Macau casino stocks: Can Sands and Wynn see further boost from Beijing license agreement?

Macau casino stocks have jumped since early November. Beijing announcing existing licences will be renewed and hopes of an end/easing in covid restrictions are seen as key reasons for the stock rises. Sands China (Sands China) currently at HK$24 is up over 57% in the last month. Wynn Macau (WYNN)- currently at HK$7.74 is up 121% over the month. MGM…

Finance ・ 05 December 2022

The Motley Fool

Which of These Casino Stocks Is a Hotter Buy?

Casino-based resorts have certainly changed over the years. The word casino translates to "small house," and the first casinos were just that -- small, dimly lit gambling venues. Over time, casinos evolved into colossal resorts, complete with entertainment, convention facilities, luxury shopping malls, theme parks, pools, and fine dining. These…

Finance ・ 06 October 2022

Wild Casino

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Bankrate

Investing In Casinos And Online Gambling: Key Things To Know

The casino industry has been hit by two major developments in the last few years, the advent of online gaming and the emergence of the COVID pandemic. Both created serious challenges for the industry, but the year 2022 has seen the industry bounce back after more than a year of subpar performance. Hospitality industries such as casinos suffered a…

Sports ・ 16 September 2022

New Jersey Online Gambling

Macau Casinos Get $1.5 Billion in Loans from Wynn and LVS

Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands loaned Sands China $1 billion. The US casino…

Gaming Authorities ・ 17 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

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

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Seeking Alpha

Macau casino revenue plunges to 18-month low

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pre-pandemic level of April of 2019. COVID restrictions in…

Finance ・ 02 May 2022

Seeking Alpha

Las Vegas Sands A Buy On China Reevaluating Policies (NYSE:LVS)

Uncertainty almost always creates volatility in markets. When traders and investors don't have a clear picture of what a company's earnings will look like, usually even the slightest news story can move the company or sector the company is in significantly. There is significant near-term uncertainty in the Chinese gambling sector in Macau right…

Covid ・ 18 March 2022

Markets Insider

4 Reasons Macau Casino Stocks Are Tanking

Macau casino stocks have taken a beating so far in 2022, but the selling pressure has intensified in recent days. On Tuesday, Bank of America analyst Shaun Kelley highlighted at least four reasons investors are dumping Macau stocks. Reasons For The Sell-Off: For the past year, Kelley has repeatedly discussed the "three C's" weighing on Macau…

Finance ・ 15 March 2022

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

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Forbes

Nevada Hits All-Time Record Of $13.4 Billion In Gambling Revenue In 2021

D espite Covid, Nevada's casinos had an historically healthy year in 2021-the state reported a record $13.4 billion in gambling revenue. The total gaming jackpot last year also beat pre-pandemic numbers in 2019 by 11.6%, according to the Nevada Gaming Control Board. The last all-time high was in 2007 when the state reported $12.8 billion in gaming…

Finance ・ 27 January 2022

Forbes

Las Vegas Sands Stock: Ride The Momentum Or Pull Out?

After going through the public consultation procedure, the Macau Gaming Bill is under discussion by the members of the legislative assembly. The draft bill proposes six concessionaires with a maximum term of ten years. The uncertainty surrounding the number of casino licenses led to a deep contraction in Las Vegas Sands stock (NYSE: LVS). Given the…

Finance ・ 26 January 2022

Markets Insider

Las Vegas Pandemic Recovery Continues To Outpace Macau's, Casino Analyst Says

Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs. Both gaming destinations took big hits during the COVID-19 pandemic, but the latest gross gaming revenue numbers suggest the Vegas recovery continues to outshine struggling Macau. The Numbers: Many Americans think of Vegas as the top gambling destination, but…

Covid ・ 05 January 2022

Forbes

Will Tides Turn For Las Vegas Sands Stock?

Since March, the shares of Las Vegas Sands (NYSE: LVS) and Penn National Gaming (Nasdaq: PENN) have observed a deep contraction after observing a strong rally in the first quarter. While the anticipation of increased regulatory oversight has led to pessimism in Las Vegas Sands stock, the shares of Penn National Gaming observed a broad-based…

Finance ・ 31 December 2021

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DraftKings

Investor Place

3 Top Casino Stocks That Could Make a Comeback in 2022

Over the past year, casino stocks have been devastated by the novel coronavirus pandemic. Just take a look at some of the losses a handful of major players in the sector have seen: Las Vegas Sands (NYSE: LVS) fell from a January 2020 high of $74.29 to now sitting at $35 Wynn Resorts (NASDAQ: WYNN) fell from $153.41 in January 2020 to $82.15…

Finance ・ 20 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

WTOP

7 Best Casino Stocks to Buy on the Dip

Wells Fargo is selectively bullish on gaming and casino stocks. Casino stocks have taken a hit recently, and the Dow Jones U.S. Gambling Total Stock Market Indexis down 6.6% since Sept. 7. General concerns about the Chinese economy coupled with fears over regulatory crackdowns and uncertainties surrounding a gaming law review in Macao have been…

Top and Best ・ 04 October 2021

Stock News

LVS: 3 Casino Stocks to Avoid as Macau Announces Increased Government Supervision

The casino industry has experienced a decent recovery this year with the reopening of brick-and-mortar casinos and the growing popularity of online gambling. However, shares of Macau casino operators declined by approximately one-third of their values, losing about $18 billion, on September 15, as Macau declared stronger supervision of casino…

Finance ・ 20 September 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

Zacks

Betting on a Las Vegas Comeback

One of my favorite places in the world is Las Vegas. The lights, the casinos, the action and just the overall atmosphere make this city an annual destination for me. However, Las Vegas was shut down for over a year due to COVID-19 restrictions. We couldn't visit most of the places we love at the height of the pandemic. Even when things opened up a…

Sports ・ 25 June 2021

Seeking Alpha

Searching for green shoots with Macau casino stocks (OTCMKTS:WYNMF)

The painfully slow recovery in Macau may have taken another step forward after Macau daily revenue for the week ending November 13 was reported to be 37% higher than the first six days of November. The relative jump in Macau gross gaming revenue was likely tied to mass testing for COVID ended in Macau on November 5, according to Jefferies analyst…

Finance ・ 14 November 2022

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