Casino Stocks: Why LVS, MLCO and WYNN Are Getting Buy-In Today
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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 with stricter regulations from the Chinese government. However, these appear to be manageable. It also looks like the current standings in Macau will continue for another 10 to 20 years, reports Seeking Alpha.
So how is this affecting casino stocks today? Let’s take a look at that below!
Casino Stocks on the Move
- Las Vegas Sands (NYSE:LVS) stock is doing well today with the shares of the casino company rising 2.6% as of Thursday morning. Some 6 million shares have traded as of this writing, as compared to its daily average trading volume of about 8.4 million shares.
- Melco Resorts & Entertainment (NASDAQ:MLCO) shares are also on the rise with the stock climbing 7.4% this morning. More than 2 million shares have traded as of this writing, as compared to the company’s daily average trading volume of around 3.4 million shares.
- Wynn Resorts (NASDAQ:WYNN) finishes off the casino stocks list with shares increasing 2.8% today. There’s also nearly 2 million shares on the move as of this writing, as compared to its daily average trading volume of roughly 3.8 million shares.
Investors seeking more stock market news today will want to keep reading!
We’ve got all the latest news that traders need to know about for Thursday. Among that is what to know about Pasithea Therapeutics (NASDAQ:KTTA) stock rising, recent news moving Kaixin Auto (NASDAQ:KXIN) shares, as well as Nio (NYSE:NIO) stock predictions for next year. You can find all of that at the following links!
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2021/12/casino-stocks-why-lvs-mlco-and-wynn-are-getting-buy-in-today/.
