Casinos & Hotels
Regulatory Risks Hit Macau Casinos (WYNN, LVS, MPEL)
Published:
Last Updated:
News out of Macau, China is crushing some of the gambling stocks that have direct operations in Macau. It looks like the Chinese are considering curbing the number of gambling tables, the minimum age of gamblers that can enter the casinos, and other potential restrictions, according to the Wall Street Journal’s Asia reports. While the full details and full implications are not yet out, Wynn Resorts Ltd. (NASDAQ: WYNN), Las Vegas Sands Corp. (NYSE: LVS), and Melco Crown Entertainment Ltd. (NASDAQ: MPEL) are all getting hit on the reports.
Wynn Resorts Ltd. (NASDAQ: WYNN) just did an IPO for its assets there. Its shares are down over 4% at $65.07.
Las Vegas Sands Corp. (NYSE: LVS) has an IPO pending for its operations, and its stock is down 6.7% at $16.87.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) is effectively a pure-play stock on this and it’s down 6% at $6.74 on the news.
If you have ever seen an instant political risk event come out that can instantly change the game for an entire sector in an entire geographic area, this is one of those instances. This would not be the first such regulatory issues that have affected the region, and so far they have always managed to bounce back and survive.
JON C. OGG
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
