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Investing.com — Casino stocks jumped Monday on news Macau lifted quarantine requirements.
Wynn Resorts (NASDAQ:WYNN) rose 10.8%, Las Vegas Sands (NYSE:LVS) was up 7.1%, and MGM Resorts International (NYSE:MGM) rose 3.9%
Guangdong authorities announced that starting July 15 people from Macau, an autonomous region on China’s south coast known as the Las Vegas of Asia, will not have to undergo the mandatory 14 days quarantine in nine cities, including Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing, Macau Business reported. Travelers (NYSE:TRV) must provide a negative Covid-19 test.
Wynn has almost doubled from a March 2020 low. Nine analysts say buy the stock, and four say hold, according to data compiled by Investing.com.
Las Vegas Sands is down almost 30% for 2020, and has 11 buys and three holds.
MGM has fallen by nearly half since the start of the year, and has three buys, 10 holds and one sell.
Clark County, where Las Vegas is located, shut down bars last week, but casinos remain operational.
