According to data from, shares of casino stocks rose across the industry this week.S&P Global Market Intelligence. Stocks that are exposed to MGM Resorts, Las Vegas Sands, and Wynn Resorts jumped as Macao relaxed some travel restrictions, the market jumped. U.S. casino operators Penn National, Caesars Entertainment, and Boyd Gaming jumped a combination of online gambling optimism and relief from investors who believe low-interest rates will continue to be a good deal has prompted many people to jump on it. Check out Singapore online live casino for better understanding.
The most important news came out of Macao. Here, the government relaxed a rule that required visitors from Guangdong in China to take a negative COVID-19 screening within 48 hours before arriving. A negative test must be done within seven days of the new regulation. Although it may seem small, this is great news for Macau travelers who need to travel quickly.
Macao is crucial to MGM, Wynn, and Las Vegas Sands operators because it has been the largest global gambling market for over a decade. However, the region’s gambling revenue was only $1.05 Billion in July, compared to $2.84 Billion in July 2019. The market is generally happy with any positive news, even though there’s still a lot of work to be done for the region to recover fully. But at times of this pandemic and these lockdowns being randomly put on throughout the countries, you can always go find a casino bonus in the merry internet and cater yourself with the best of internet based gambling!
In the U.S., online gambling was in focus. Investors are betting on an increase in online gambling following a difficult summer. Although brick-and-mortar casinos are recovering well, there is still a chance to play casual football gambling from your home. MGM, Penn National, and Caesars have the most to gain if football becomes a cash-generating online business.
This week, there were market tailwinds that backed casino stocks. Jerome Powell, Federal Reserve Chair, has stated that the central bank will not let up on interest rates or quantitative easing. Casino investors hope that this will result in continued low-interest debt rates, which could lead to better profitability for both brick-and-mortar and online casinos.
The hope for investors is that a recovery in Macau and growth in online gambling will turn casino stocks into growth stocks once again. These stocks were supported by tailwinds this week as every piece of industry news seemed to be good.
We have yet to see these companies make a financial turnaround. Despite signs of improvement, business is still down in Macau. We need to see some results soon. This week I am holding onto my casino shares, but you shouldn’t be surprised if there is less good news from Macau and online gambling companies in the next few weeks.