Wynn, Las Vegas Sands, MGM Shares Rise After China Eases Covid-19 Controls

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Review Journal

Will the United Arab Emirates become the ‘Las Vegas of the Mideast?’

It was the late 1990s when anyone in Southern Nevada started thinking about Macao as "the Las Vegas of the East." Now, we should start thinking about the United Arab Emirates as "the Las Vegas of the Mideast." Las Vegas Sands Corp. was one of the early believers in Macao, the densely populated, 12.7-square-mile enclave at the mouth of the Pearl…

Travel ・ 16 June 2024

The Motley Fool

Better Buy: Wynn Resorts or Las Vegas Sands Stock?

The gaming and resort industry continues to recover from the pandemic, and one of the biggest gaming markets in the world reopened earlier this year: Macao, China. With Macao back in action, casino operators there stand to benefit from pent-up demand -- as do casino stock investors. Here, I'll compare two American casino companies with properties…

Industry ・ 19 March 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

Sigma

Zacks Investment urges care on Macau casino stocks despite gains

Macau stocks jumped this week after a relaxation in travel restrictions, but investors should probably wait for more consistent positive profit forecasts before piling in, Zacks Investment said. The stocks surged after China indicated that it would reinstate electronic visas and group travel tours in the first significant easing since the borders…

Finance ・ 29 September 2022

Wild Casino

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CNBC

Jefferies upgrades Las Vegas Sands, Wynn Resorts on Macao reopening

Jefferies on Monday upgraded Las Vegas Sands and Wynn Resorts after Macao announced its plan to allow Chinese tour groups back in the casinos as soon as November. The Wall Street firm boosted the rating for the casino operators to buy from hold following news that the Macau government said it will resume visitation access from mainland China…

Travel ・ 26 September 2022

The Street

Las Vegas Sands Stock Leaps As Macau Eases Covid-Era Gaming Rules

Las Vegas Sands (LVS) shares lead U.S. casino operators sharply higher Monday after officials in the city of Macau, the world's largest gaming hub, agreed to allow tour groups from mainland China for the first time in nearly three years. Macau, a Special Administrative Region of the People's Republic of China, said group visits - heavily restricted…

Covid ・ 26 September 2022

Casino.org

Top 5 Richest Casino Owners In The US

In the UnitedStates, casinos are big money. Of course, most people know about the high rollers and casino whales, extremely rich individuals who love nothing more than gambling millions of dollars in a single session. However, therichest people at casinos are usually not the gamblers, but the casino ownersthemselves. Out of allthese owners there…

Top and Best ・ 21 October 2022

Review Journal

Las Vegas Sands, Wynn Resorts, MGM among companies lining up for Macao license.

Seven gaming companies will vie for six operational licenses in Macao, but at least one analyst expects all of the competitors will end up getting a piece of the action. The government of Macao on Friday announced six existing concessionaires - Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Resorts International, and Chinese operators SJM Resorts…

Travel ・ 20 September 2022

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Review Journal

Wynn Resorts partners with New York land developer Related Companies on casino resort license

Wynn Resorts Ltd. is partnering with a New York real estate company to pursue one of three new downstate casino licenses in a Manhattan neighborhood. Related Cos. and Wynn announced the agreement Thursday to develop a casino, resort and entertainment area near the Javits Center on the western side of the Hudson Yards, near the Hudson River. The…

Travel ・ 17 September 2022

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

Markets Insider

Why Are Casino Stocks WYNN, LVS Down Today?

Wynn Resorts (NASDAQ: WYNN) stock and Las Vegas Sands (NYSE: LVS) stock are both declining 8% in early morning trading. Casino stocks are slumping after new Covid-19 restrictions were imposed in the Chinese region of Macau. Although Wynn and Las Vegas Sands are based in the U.S., they both own multiple casinos in Macau. After the new coronavirus…

Finance ・ 11 July 2022

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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

Gambling News

Carolina Panthers’ Owner Invested in Las Vegas Sands and Wynn Resorts

David Tepper, the owner of the Carolina Panthers, expanded the equity portfolio of Appaloosa Management, his personal hedge fund. The NFL franchise owner invested in two gambling companies, namely Las Vegas Sands and Wynn Resorts. Tepper's investments in Sands and Wynn Resorts were the only new equity additions to Appaloosa Management in Q1. The…

Travel ・ 17 May 2022

Seeking Alpha

Las Vegas Sands, Casino stocks surge as Shanghai looks set to end lockdowns (NASDAQ:WYNN)

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening "in a few days" as case numbers fall. The nation's most populous city is seen as a key bellwether for the country's Zero-COVID policy, therefore holding…

Covid ・ 13 May 2022

Seeking Alpha

Macau casino stocks could be impacted by new COVID deaths in Shanghai

Macau casino stocks are on watch again this week with investors looking to see how far the zero-tolerance policy in China can extend. The government in Shanghai has reportedly set a new target of zero cases at the community level by April 20, which means no new cases outside of quarantined zones. That may be a tough standard after 23643 new local…

Covid ・ 18 April 2022

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Seeking Alpha

Macau casino revenue slumps to 18-month low

Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month. Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The…

Finance ・ 01 April 2022

New Jersey Online Gambling

Casino Roundup: Crown Buyout, Wynn Leaseback and Sands Junk Rating

Crown Resorts accepted a $8.9 billion buyout bid from Blackstone, a private equity firm. Just days after the news, the Australian casino company r eported a $141 billion loss for the last six months of 2021. In other casino news, a credit agency cut Las Vegas Sands' debt rating, while Wynn Resorts negotiated its first real estate sale. It's a tough…

Gaming Authorities ・ 21 February 2022

Review Journal

Macao news propels stock prices for some Las Vegas casino operators

The stock prices of two Las Vegas-based gaming companies with operations in Macao soared Friday after the government there clarified its casino licensing framework following earlier proposals that clouded the region's outlook. Las Vegas Sands Corp., which operates one property on the Macao peninsula and five on the offshore Cotai Strip, saw its…

Land-based ・ 17 January 2022

The Street

Las Vegas Sands, Wynn Resorts Surge As Macau Clarifies Casino Rules

Macau, the world's largest gaming hub, will cap the number of casino operator licenses at six, while boosting local ownership requirements, when it auctions new permissions later this year. Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. Report and Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report shares surged higher Friday after officials…

Travel ・ 14 January 2022

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

The Street

Las Vegas Sands, Wynn Stock Slump As Macau Takes Aim At Casinos

Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. (LVS) Report lead U.S. casino shares lower Wednesday after officials in Macau planned major changes to rules governing operations in Macau, the world's largest gaming hub. In what appears to be the latest crackdown on powerhouse sectors in the world's second largest economy officials in Macau, a…

Travel ・ 04 October 2021