2024.07.12
liberty slots casino mobile appIn midday trading, LVS and Wynn are both up more than five percent, while Meslot machine at casinolco Resorts & Entertainment (NASDAQ:MLCO) is higher by more than 10 percent.Finally, Relief for Macau Casino StocksNews of looser travel rules couldn’t arrive at a better time for Macau concessionaires, many of which are among the worst-performing major gaming equities.Entering today, shares of LVS were off 33.34 percent year-to-date, and the operator of five Macau integrated resorts was one of just a handful of S&P 500 members that hadn’t posted positive returns since the March 23, 2020 market bottom. Shares of Wynn, which controls Wynn Macau and Wynn Palace, were lower by 17.64 percent this year prior to today.Those moves come less than a week after Macau casino stocks slumped to five-year lows, as analysts fretted that a recent uptick in COVID-19 cases on mainland China would stymie August visitation to the SAR.However, declining case counts and a brighter outlook for travel rules are having palpable impacts on weekly gross gaming revenue (GGR) data, and that’s a positive for operators. For the week of Aug. live casino jobs philadelphiaBut more significant travel impediment removals are not likely until next year.”Should that scenario play out, it’d be a boon for the likes of Sands and Wynn, which derive anywhere from two-thirds up to 80 percent of earnings before in“We expect GGR improvement beginning in the fourth quarter. (Image: CNBC)Macau officials announced that travelers arriving from Guangdong — the mainland province closest to the casino hub — will be required to present a negative COVID-19 nucleic acid test that’s seven days old or less.That’s down from the prior requirement of a test that’s 48 hours old. tower at foxwoods resort casino lucky creek casino no deposit bonus codesw casino no deposit bonusRecently, Macau casino stocks are soaring on the news of eased travel curbs. Visitors mull in front of Wynn Palace in Macau, above. While the pace of recovery in the world’s dominant casino center is confounding executives and investors alike, Macau gaming equities could seeslot machine at casino brighter days over the near term if authorities further loosen travel controls.We expect the situation to Macau to start getting back to April/May levels in October,” said Bernstein analysts. zynga facebook pokerLast week, New York City Mayor Bill de Blasio issued a similar order for the city’s businesses. In midday trading, LVS and Wynn are both up more than five percent, while Meslot machine at casinolco Resorts & Entertainment (NASDAQ:MLCO) is higher by more than 10 percent.Finally, Relief for Macau Casino StocksNews of looser travel rules couldn’t arrive at a better time for Macau concessionaires, many of which are among the worst-performing major gaming equities.Entering today, shares of LVS were off 33.34 percent year-to-date, and the operator of five Macau integrated resorts was one of just a handful of S&P 500 members that hadn’t posted positive returns since the March 23, 2020 market bottom. Last week, New York City Mayor Bill de Blasio issued a similar order for the city’s businesses. online live casino no deposit bonus chinook winds casino job openingshollywood casino entertainment toledoShares of Wynn, which controls Wynn Macau and Wynn Palace, were lower by 17.64 percent this year prior to today.Those moves come less than a week after Macau casino stocks slumped to five-year lows, as analysts fretted that a recent uptick in COVID-19 cases on mainland China would stymie August visitation to the SAR.However, declining case counts and a brighter outlook for travel rules are having palpable impacts on weekly gross gaming revenue (GGR) data, and that’s a positive for operators. Recently, Macau casino stocks are soaring on the news of eased travel curbs. On Tuesday, they announced a mandatory mask mandate would be in effect starting on Wednesday.While the mask order did not specifically list casinos like the vaccine order, the venues are essentially covered, as the province said people 12 and older must wear masks in any indoor setting regardless of their vaccinatslot machine at casinoion status.Several casinos in the province, including the River Rock Casino Resort, the Grand Villa Casino, and Cascades Casino Kamloops, were already posting on their websites that masks were required for entry.The other requirement accompanying the negative test is that would-be Macau visitors cannot have traveled to Hong Kong, Taiwan, or any other foreign country prior to arriving in the gaming center.A spokesperson for Macau’s Public Security Police, Lei Tak Fai, said the relaxed testing protocol goes into effect on Wednesday.Guangdong accounts for approximately 45 percent of the annual visits to the SAR, and Macau casino stocks are responding to the good news. For the week of Aug. 22, Macau GGR surged 55 percent from the previous week, according to research firm Bernstein.Maybe Brighter Days AheadWhen the coronavirus pandemic initially emerged last year, analysts speculated that Macau operators would rebound more rapidly than US-centric rivals. table games in casino borgata online casino support phone number |