WYNMF - Chinese regulators close Macau casinos to curb COVID outbreak gaming stocks slide

In a familiar refrain, Macau-linked casino stocks slid sharply on Monday amid reports that regulators are stepping up action to curb rising COVID cases.

According to official figures, cases jumped to 1,526 in the region since mid-June. A Johns Hopkins case tracker indicates that the weekly average case count jumped into the mid-30s to start July, which is the highest on record for the special administrative region.

Given this unprecedented case level, state regulators moved to close all casinos for the first time since the early stages of the pandemic. The shuttering of all gaming operations is another signal that Zero COVID policies will not be easily abandoned by Chinese officials.

Las Vegas Sands ( NYSE: LVS ) fell 5.32% in premarket trading on Monday, while Wynn Resorts ( NASDAQ: WYNN ) slid 5.67% . Meanwhile, Melco Resorts & Entertainment Limited ( NASDAQ: MLCO ) dropped 4.64% during the early session.

Other Macau-specific operators impacted include: Wynn Macau ( OTCPK:WYNMF ), Sands China ( OTCPK:SCHYY ), MGM China ( OTCPK:MCHVF ), Galaxy Entertainment ( OTCPK:GXYEF ), SJM Holdings ( OTCPK:SJMHF ), Studio City International ( MSC ).

See Seeking Alpha Quant Ratings across the casino and gaming sector.

For further details see: