One of the casino stocks to watch this week is the MGM stock trading at $33.24 as of 02:03 PM EDT
The surge in Macau casino equities on Wednesday is being supported by a week of holidays in China. China is presently commemorating its “ Golden Week ,” which began after the October 1 National Day, which marks the founding of the modern communist Chinese state in 1949. Usually, the week corresponds to the country’s busiest travel period.
2 Casino Stocks You Should Consider
Between 20,000 and 25,000 visitors were expected to arrive in the special administrative region throughout the week, Cheng Wai Tong, Deputy Director of the Macau Government Tourism Office, predicted. This is a recovery from a pandemic-driven slump. Macau Business reports that on October 1, 37,000 visits were registered , exceeding expectations and giving regulators who recently loosened some limits a “gratifying” sensation. By Tuesday, there had been around 30,500 visitors per day over the vacation week.
Casino Stocks to Watch
While Wednesday’s gains were largely modest, 5-day gains for Las Vegas Sands ( NYSE:LVS ), Wynn Resorts ( NASDAQ:WYNN ), MGM Resorts International ( NYSE:MGM ), and Melco Resorts & Entertainment ( NASDAQ:MLCO ) each reached 8% or b...
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