LVS stock (NYSE:LVS) is trading upwards at $39.99+ as of 10:43 AM EDT.
After officials announced that Chinese tour groups would be allowed to visit the gambling hub as early as November, LVS stock, and other Macau casino stocks have continued to rise.
According to J.P. Morgan analyst Joseph Greff on Wall Street, the company views the policy news as a significant positive development for a sector that the buy-side has previously considered to be very difficult to invest in because of a dismal near-term operating environment and the inability of anyone to predict with any degree of certainty when travel mobility between Mainland China, Hong Kong, and Macau would begin to improve.
Las Vegas Sands (Lvs) Stock Leaps With Macau COVID Decision
“We still think LVS is the best option here and see it as a potential player in the recovery of Macau as well as a positive estimate revision coming from its Marina Bay Sands property in Singapore, a tourism area that is just starting to see an increase in foreign visitors (just 6 months in). As both of its markets experience a rebound, we would anticipate an increase in capital return (which should set LVS apart from the rest).”
LVS Stock and Other Casino Stocks
Following an 11.81% increase on Monday, LVS stock (NYSE:LVS) increased 2.22% in premarket trading on Tuesday. Wynn Resorts stock increased 1.85% on Tuesday, adding to the 11.99% gain on Monday. After rising 25.47% on Monday, shares of Melco Resorts & Entertainment Limited added an additional 3.01%.
What to watch for: Is Beijing planning to abandon its zero-tolerance COVID policy if Macau tourism regulations are relaxed? If that were the case, chains like Yum China, Luckin Coffee (OTCPK:LKNCY), and Starbucks may benefit.
Outlook for WYNN and LVS Stocks
Thus, the plays are Wynn Resorts and Las Vegas Sands (NYSE:LVS), companies related to the gaming industry in Macau. Following China’s removal of its COVID-19 safety measures, the two firms are surging today, both up nearly 12%. As a result, Macau will once again welcome tour groups after an absence of over three years. In addition, a program for issuing electronic visas is being reinstituted, which could quadruple visitor numbers from their August lows.
Featured Image- Megapixl @ Piter2121
Author Jowi Kwasu 
