Wynn Stock Rises Alongside Las Vegas Sands Spiking Macau Casino Stocks in Anticipation for a Reopening

Information obtained from the Bureau of Gaming Inspection and Coordination show that Macau’s overall gaming income dropped 10.7% in October to $3.9 billion patacas ($482 million) from the same month last year. The GGR result was worse than the -8.5% consensus figure analysts had predicted.

With some travel channels to Macau from the Mainland open and the Golden Week vacation period falling during the month, October’s casino GGR increased by 31.6% when compared to month to month.

J.P. stated that this “implies a daily run-rate of MOP126 million, indicating a pitiful 15% of pre-pandemic levels, which is not at all surprising under the circumstances.” Morgan on the statistics for October.

Through October 31, Macau’s total year-to-date gross gaming income fell by 50.5% to 35.7 billion patacas. People from mainland China will be able to get online visas to go to Macau, but new COVID-19 cases in the area are a threat to casino traffic right away.

Wynn stock, other casinos

After a filing revealed a restaurant owner and a wealthy investor, shares of the company that runs casinos went up by 9.6%. The corporation now has a 6.1% passive ownership stake owned by Tilman Fertitta. More than 20% of the stock is still down this year.

Stocks of Macau casinos increased in Tuesday’s early trading. The greater jumps seem to be connected to rumors coming out of Hong Kong that Chinese officials planned to set up a committee to talk about rolling back aspects of the country’s zero-COVID laws.

MGM China (+OTCPK:SCHYY), MGM Resorts (+1.91% premarket), Galaxy Entertainment (+OTCPK:GXYEF), SJM Holdings (+OTCPK:SJMHF), Melco Resorts & Entertainment (+6.05% premarket), and Studio City International (+6.05% (MSC), are among the companies that have increased their stakes.

Wynn Stocks And Macau Casinos Drop On Growth Concerns And New COVID Limitations In Guangzhou

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