Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands […]
Shares of casino stocks tanked on Tuesday after Macau announced it will revise its gambling regulations. In just one day, casino companies operating in the world’s largest gambling center lost roughly $18 billion in stock value. On Tuesday, Macau’s Secretary for Economy and Finance announced a 45-day consultation period for […]
An announcement that Wynn Resorts is in the process of investing heavily in its online gambling product, combined with the news that a COVID-19 vaccine may be in the offing, resulted in a mammoth win for the resort and entertainment giant (NASDAQ: WYNN) as its stock price surged more than 22% Monday […]
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