Casino Stock Prices Jumped This Week

The land-based casino industry is in a very unusual place. The new coronavirus has shut down all casinos in the United States and it’s unclear when these gambling venues will begin opening up again. Interestingly, we’re beginning to see casino stock prices jump.Paper On Stocks And Shares

There are several reasons why this is. Today, we’re going to look at the state of the US casino industry. We’ll also talk about why stock prices are beginning to increase.

Let’s get into it!

Casinos Around the United States Remain Closed

The US is known for having one of the largest and most successful casino industries in the world. A huge number of states around the country operate major casinos. Many of these gambling venues help to bring the state valuable revenue every single month.

Unfortunately, all casinos across the country are now shut down. As the coronavirus began to spread, most states started to close their casinos down. With cases now confirmed in every single state, the entire US land-based casino industry is now shut down.

This includes all the casinos in Las Vegas. This city, known as the gambling hub of the world, has seen all of its gambling venues close down. This is costing many major casino companies here millions of dollars every day.

No one knows when the country’s casinos will be able to open again. Health experts warn that this situation may play out for months. We’re seeing thousands of new cases of Covid-19 emerge every single day.

The recently-passed stimulus package is expected to help many US casino companies. Some are still worried about the future. This week, many of these companies saw their stock prices rise considerably.

Why Did Casino Stock Prices Recently Increase?

As you may already know, the stock market has been extremely volatile lately. We’ve seen almost all stock prices plummet over the past few weeks and this trend may continue for the foreseeable future. This week, however, we saw casino stock prices jump.

Perhaps most notably was Eldorado Resorts, whose stock rose by an incredible 26.4% at one point before closing at 19.5%. Caesars Entertainment also saw a quick jump of 17% before settling at 5.3%. Part of the reason for this jump is the impending merger between these two companies.

Back in June of 2019, these two companies officially agreed to merge. Eldorado paid billions to acquire Caesars and the companies have been working to gain approval from various state gambling commissions ever since. As of now, the deal is set to finalize in June of this year.

The aforementioned stimulus package may have also helped these stock prices increase, as well. Several companies have expressed relief that the federal government is offering emergency aid.

Penn National Gaming also saw a major stock price increase of 15.8% before it settled at 8.5%. This company recently sold a major property in Las Vegas which is expected to help the company over the next few months.

More and more US casino companies are now looking at Macau as the saving grace right now.

Macau May Prove to Be Extremely Valuable for US Casino Companies

Macau is another one of the world’s biggest gambling hubs. It’s a small Chinese territory that’s home to a huge number of multi-billion dollar casino resorts. Several of the biggest US casino companies operate casinos here including MGM Resorts, Wynn Resorts, and Las Vegas Sands.

For a time, all the gambling venues in Macau were closed to the public. That is no longer the case and this city is now extremely valuable for US casino companies. The casinos here may be the only ones able to bring these companies revenue.

This isn’t happening right away. Tourism into Macau is still extremely low. As a result, the casinos in this city are struggling hard to bring in money.

Hope is that this changes soon. If more visitors from mainland China begin flocking to Macau, this city can help to protect many of the biggest US casino companies. An increase in gambling revenue here may also lead to casino stock prices increasing massively once again.

Things continue to get stranger every single day. We’ll need to wait and see how US casino companies manage to deal with the new regulations over the next few months.

Stay tuned for updates on this situation!

Covid-19 Continues to Slow Down Las Vegas Construction

The coronavirus has now spread throughout the entire United States. Perhaps no city has been affected by this new virus quite as much as Las Vegas. According to new reports, Las Vegas construction projects have been slowing down considerably.

Resorts World Las Vegas

This is a tough time for people around the world. Several major industries are being hit hard. Today, we’re going to discuss the impact that Covid-19 is having on major construction projects inside Las Vegas.

Let’s get into it!

More than 130,000 Covid-19 Infections Are Now Confirmed in the US

As most are well aware, the new coronavirus is quickly spreading around the world. Unfortunately, no one saw this virus spread coming. It’s exposed just how unprepared many of the world’s most powerful countries were for a pandemic.

In early March, less than one hundred cases were confirmed in the United States. Today, more than 130,000 people have been officially diagnosed with the coronavirus. Every day, thousands of new cases emerge.

Some states are being hit harder than others. As of now, New York is the epicenter of the epidemic in the US. This state has nearly 60,000 cases including tens of thousands in New York City. New Jersey and Louisiana are seeing their infection rates surge, as well.

Nevada saw its first cases emerge in early March. Since that time, nearly 900 individuals here have caught Covid-19. As a result, much of the entire city has been shut down.

All casinos in Las Vegas are closed to the public. The tourism industry here has essentially shut down. Obviously, this has been devastating for a huge number of businesses and individuals.

New reports show how Covid-19 is affecting major Las Vegas construction projects.

Las Vegas Construction Projects Are Slowing Down

As we just mentioned, the new coronavirus is affecting a huge number of industries in Las Vegas. Perhaps the most notable is the gambling industry. All major casinos have been forced to shut down in the city. It’s unclear when these venues will be able to open again.

Governor Sisolak has called for all non-essential businesses to shut down. Fortunately, the state is still allowing construction to take place. That’s not entirely surprising, considering a huge number of massive Las Vegas construction projects are currently underway.

It appears many of these projects are slowing down, though. Workers at the new Allegiant Stadium and the Resorts World Las Vegas have tested positive for Covid-19. This is led some lawmakers to discuss the possibility of halting all construction.

No one wants to see these projects completely stalled, though. In the mid-2000s, many projects were stalled due to the recession. This cost thousands of people their jobs and was devastating to the local economy. City officials now need to weigh the safety of residents and the impact that new regulations will have on Las Vegas.

For now, construction is still able to take place in Las Vegas. If the gambling industry remains closed and more Covid-19 infections begin to emerge, however, we may see some of these projects put on hold.

Las Vegas Casino Companies Receive Help From Stimulus Bill

Many of the biggest casino companies in the world are based in Las Vegas. This includes MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Today, all of these companies are bleeding revenue due to the regulations in Nevada.

Many of these companies claimed that unless things changed, they would be unable to continue operating. Reports surfaced that show they are currently losing millions of dollars every day. Many casino officials began asking the government for relief.

Last week, a massive new stimulus bill was officially signed. Many of the major casino operators in Las Vegas are taking a sigh of relief. Under the new bill, casinos in Nevada can receive money from the $450 billion in government loans now being offered.

Brian Ahern, a spokesperson for MGM Resorts International, commented on the bill to the media this week.

“Our goal is to reopen our doors and get employees back to work as soon as public health and safety allow. These provisions help pave the way for that outcome,” he said. “We are pleased the economic relief package offers financial support immediately.” 

Casino companies are getting some much-needed relief. Unfortunately, several major Las Vegas construction projects are in danger of being halted.

Stay tuned for more Las Vegas news over the next few weeks!

Is this the Right Time to Buy Casino Stock?

The coronavirus continues to take a major toll on the gambling industry. Casinos across the United States are being forced to close down. Interestingly, some now believe that this is the perfect time to buy casino stock.

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Not everyone is interested in investing their money right now. For many, the coronavirus is already taking a major financial toll. Today, we’re going to look at how this virus is affecting casino workers, and discussing why some feel it’s the right time to put money back into this industry.

Let’s get into it!

Casinos Around the US Have Closed

As you probably know, the new coronavirus called Covid-19 has now spread around the entire country. In just a few weeks, it’s known to have infected more than 11,000 individuals. Due to the lack of mass testing available, it’s possible that many more actually have the virus.

Every state is taking its own approach to this virus. Some, like Florida, are taking a relaxed approach, allowing beaches to remain open. Many have condemned lawmakers in the state for not doing enough to stop the spread.

Other states are taking some extreme measures. In the San Francisco Bay Area, thousands of individuals are now legally required to self-quarantine at home. Nevada has officially called for all casinos and restaurants to close to the public.

In fact, many states are now forcing their casinos to shut down. This is proving to be devastating for a huge number of employees. The casino companies themselves are also losing millions of dollars every day due to these new regulations.

Unfortunately, it’s unclear when exactly things may begin to improve. Estimates vary, yet most agree that things will get considerably worse before they get better.

Some Believe Now is the Time to Buy Casino Stock

The US stock market has dropped faster than ever before. Many government officials believe we are now heading into a global recession. Some financial institutions actually claim this is a good time to begin investing money back into the stock market.

As we just mentioned, many casino companies are experiencing incredible drops in their stock prices. For this reason, certain individuals are encouraging people to buy casino stock. Shaun Kelley, a financial analyst, says he’s making this decision based on updated 2021 recession-level earnings outlooks.

“That said, our stocks are already pricing in significant liquidity concerns and we have long been aware of the financial/operational leverage in these companies,” Kelley said. 

Many casino companies with ties to Macau present good investment opportunities, he says. Not everyone agrees, though. Some feel that based on the way things are going, it’s best to avoid making any major investments.

Casino Companies Are Now Asking for Help From Congress

Despite some analyst’s calls to buy casino stock, things are still looking very grim for many of these companies. MGM Resorts International, Wynn Resorts, and Las Vegas Sands have all been forced to close down the majority of their gambling venues. Some are now asking for financial relief from Congress.

Earlier this week, several casino companies officially began requesting emergency aid. The American Gaming Association claims this situation is pushing many companies to the brink of collapse.

The AGA also points out how many individuals are at risk of losing their jobs. As more regulations are made across the country, more jobs inside casinos are likely to be lost.

It’s unclear what steps Congress will take to help these companies. Unless the situation improves quickly, however, it’s almost inevitable that some of these companies will fail.

Some feel this is the right time to buy casino stock. Make sure to stay tuned for updates on this situation over the next few months!

US Casino Companies Ask Congress for Financial Help

The land-based gambling industry in the United States is in trouble. As the new coronavirus spreads around the country, more casinos are being forced to close down. As a result, several major US casino companies are now asking Congress for emergency aid.L’Auberge Casino

These companies are facing a very difficult road. It may be months before they’re able to open their doors to the public again. Today, we’re going to look at which states have forced casinos to close and how this industry is handling the new regulations.

Gambling Industry Continues to Be Hit With Tough Regulations

As of now, more than 5,300 individuals in the United States have tested positive for Covid-19. This virus is showing a unique ability to spread and containment efforts around the country are proving ineffective. As more cases are revealed, states are introducing tougher regulations.

One industry that’s being severely affected is the land-based gambling industry. In many states, lawmakers have forced all casinos to shut their doors. This includes Mississippi, New York, and New Jersey.

Obviously, this is costing these casinos a huge amount of money every single day. The troubling thing is that gaming companies have no clue when their venues will be able to open again. Unless infection rates begin to plummet, it’s unlikely they will be able to accept patrons.

Based on the current trend, that’s unlikely to happen anytime soon. The lack of proper testing protocols in the country has contributed to a huge number of cases going unreported. No one really knows how many people in the US currently have Covid-19.

It’s an unprecedented time for US casino companies. Some are now going to the government in search of emergency relief.

US Casino Companies Request Help From Congress

In many parts of the country, the land-based gambling industry is hugely important. Las Vegas, for example, relies considerably on its gambling revenue. In this city, tourism is at an all-time low and most major casino-resorts have already closed their doors.

Many companies are already suffering greatly from these casino closures. Today, several began asking for emergency aid from Congress. The American Gaming Association claims that nearly 40% of casino employees are already being affected by the coronavirus regulations.

This comprehensive package would most likely come in the form of a bailout for major casino operators. It would be similar to what the government has offered to airlines and cruise companies. Several other relief options are also being considered.

The American Gaming Association commented on the situation in an official statement this week.

“As state governments close casinos as a part of the urgent public health response to COVID-19, elected leaders should move just as urgently to support the workers and businesses who will bear the brunt of those effects,” the statement said. “Our immediate priorities are actions that provide liquidity to allow us to support employees.”  

The US gambling industry currently supports nearly 2 million individuals. Obviously, this makes it an extremely important industry for many parts of the country. We’ll need to wait and see how Congress responds to this request over the next few days.

What to Expect in the Coming Months

Even the top health experts in the country are having a difficult time predicting how this situation will play out. The future depends greatly on how individuals across the country respond to the situation. Just about everyone understands that things will get worse before they get better, though.

Many more cases are going to be announced in the coming weeks. The country’s top health expert believes we may see the infection peak around 45 days from now. During this time, it’s unlikely that casinos will be able to operate.

Some states have yet to close their casino markets. It’s still unclear how these US casino companies will respond to these new regulations.

Interestingly, we’re seeing a major increase in online gambling right now. More and more individuals are choosing to stay at home to practice social distancing. Many are choosing to make wagers online while self-isolating.

There are a huge number of fantastic US internet casinos available nowadays. Most of them are fantastic. Feel free to check some of them out and see all of the different games being offered!

It’s a tough time for US casino companies right now. Hopefully, the government is able to help out. Stay tuned for updates over the next few weeks!

Coronavirus in Clark County is Already Raising Concern

Covid-19, the coronavirus you’ve been hearing about in the news, may have finally hit Nevada. New reports indicate that a man tested positive near Las Vegas. Obviously, the coronavirus in Clark County is causing major concerns for people and businesses here.Nevada Sign On Highway

The coronavirus has now been confirmed in 17 states around the country. Infections in Las Vegas would raise concerns due to the huge number of tourists that visit this city. Today, we’re going to look at the impact this coronavirus is already having on Nevada.

Let’s get into it!

New Cases of Coronavirus in the US Are Recorded

It’s no surprise to see the coronavirus continue to spread around the country. It’s now spread to a huge number of nations across nearly every continent. Iran, South Korea, and Italy are working hard to contain their rising infection rates yet these efforts don’t appear to be working.

The virus has already spread to 17 US states, as well. Washington remains the worst-hit state. Hundreds of people have been confirmed infected here and more than 10 have been killed by the virus. Oregon recently recorded a case inside one of the state’s casinos.

California is also being affected. Many new cases are popping up here every single day. This is also the first state outside of Washington to record a death from the coronavirus. Many analysts predict that the real number of people infected in the US is far higher than what’s being recorded.

There have been real fears of this virus spread into Las Vegas. It’s one of the most-visited cities in the country and packs a huge number of people into very small areas like casinos. A major outbreak here could result in significant spreading around the country.

Unfortunately, it appears this scenario may soon become a reality. One man in Clark County appears to have tested positive for Covin-19. Here’s what we know about the situation.

The Coronavirus in Clark County is Now a Reality

Health officials in Nevada have been testing hundreds of individuals they fear could be infected with the coronavirus. According to new reports, one man in Clark County has just tested presumptively positive for the virus. This man said to be in his 50s, is now in isolation within a Nevada hospital.

Steven Horsford, a Nevada state representative, spoke with the Nevada Independent about this new case.

“Obviously we want to understand who else may have been exposed, any medical professionals, any other family members,” he said. “Anyone else that may have been under care at the VA, so we’ll continue to follow that throughout the day.”

The man was said to have recently traveled to Washington, where he likely got exposed to Covid-19. Unfortunately, he also visited Texas, which just recently recorded its first case of the virus. Officials are now attempting to locate those who may have been in contact with him.

It’s troubling news for several reasons. Las Vegas is an easy place for a respiratory virus to spread. As of now, it’s important to note that he’s only “presumptively positive,” meaning the results have yet to be formally confirmed by different labs.

The coronavirus is already having an effect on Las Vegas businesses. The gambling industry, in particular, is taking a hit.

Las Vegas Casino Companies Experience Stock Price Drop

The city of Las Vegas relies heavily on its gambling industry. It’s the gambling hub of the United States and is home to many of the biggest casino-resorts of the world. If the coronavirus begins to spread here, there’s fear that visitation to the city will drop dramatically and the casinos will start losing serious revenue.

If that happens, things could go bad quickly. Due to new reports of the coronavirus in Clark County, several major Las Vegas casino companies saw their stock prices fall dramatically.

This morning, Red Rock shares fell by 11.3% to $17.03. MGM Resorts International saw its stock prices drop by 8.7% to $21.28. Las Vegas Sands’ fell by 2.8% to $55.64 and Caesars Entertainment saw its stock prices fall by 3.9% to $11.48.

Many have been speculating how this coronavirus could affect Las Vegas. In recent months, this city has experienced significant revenue increases. If this virus spreads, that trend may change.

As of now, only one case has been recorded in Nevada. It’s reasonable to assume there are probably more that simply haven’t been found. How this will affect the city is not yet known.

It’s an unusual time for the US casino industry. Stay tuned for more Las Vegas casino news over the next few months!

Macau’s Casino Revenue Plummets Due to Coronavirus

Covid-19, the coronavirus that emerged in Wuhan, continues to spread around the world. This virus has already taken a massive toll on Macau. According to new reports, Macau’s casino revenue has plummeted due to officials closing down the city’s casinos.Revenue Drop Picture

This is beginning to hurt Las Vegas casino companies, too. Today, we’re going to talk about how much revenue was lost here last month. We’ll also discuss what’s in store for the future here.

Coronavirus Forces Casinos in Macau to Close Down

The Wuhan coronavirus, called Covid-19, first appeared back in December. Since that time, it’s gone on to infect more than 90,000 people and has already killed more than 3,000. Despite containment efforts, it’s spread to about 70 different countries.

Scientists are having a difficult time understanding this respiratory virus. It’s shown a unique ability to spread from person-to-person. Some claim that it’s reaching a pandemic level due to the fast spread around the world.

Covid-19 has taken a major toll on Macau’s economy. Back in February, officials in the city decided to close down all casinos in order to prevent more infections. This was a tough decision for the territory leaders, as Macau relies heavily on gambling revenue.

These casinos have since reopened. Government officials are requiring all staff and gamblers inside these gambling venues to wear face masks. Unfortunately, tourism in this city is at an all-time low and revenue is plummeting.

This isn’t surprising. Not long into the outbreak, analysts began to predict that Macau would be heavily impacted. Revenue reports are just coming out and it’s just now becoming clear how much of an impact the coronavirus is having here.

Macau’s Casino Revenue Was Lowest in History Last Month

Macau is one of the world’s biggest gambling hubs. A huge number of world-class casinos are located here, some of which are operated by major Las Vegas companies. Closing down these gaming venues had a significant impact on the territory’s economy.

Macau’s casino revenue dropped by 87.8% in February when compared to the same month last year. That’s the biggest drop ever recorded. This revenue decrease is directly related to the casino closures.

On the surface, things look pretty grim here. Not everyone is convinced that these revenue drops will continue, though. An analyst at JP Morgan Chase commented on the situation to the media this week.

“We do not think COVID-19 will curb gamblers’ enthusiasm… so its impact on the industry’s sustainable earnings power should be limited,” the analyst claims. 

That may be wishful thinking. Cases of the coronavirus are beginning to slow down in China. Unfortunately, infections continue to spread in new countries. With the casinos in Macau now reopened, it wouldn’t be a surprise to see new cases hit this territory.

Hopefully, Macau’s casino revenue bounces back in March.

How is the Coronavirus Affecting LV Casino Companies?

The coronavirus has already spread to several US states. In Washington, two people have been killed by the virus. Many feel that it’s just a matter of time until a major US city is hit.

As of now, no cases have been recorded in Las Vegas. That’s surprising to some, considering this is one of the most-visited cities in the country. That doesn’t mean that casino companies based here are unaffected, though.

As Macau’s casino revenue drops, so does that revenue that Las Vegas casino companies are earning. The closure of this territory’s casinos cost several companies millions of dollars every single month. Even now that they’re open again, revenue in this city remains incredibly low.

If the coronavirus begins to spread in Las Vegas, things will get considerably worse. Like Macau, the city of Las Vegas may begin forcing casinos to close their doors. That would be devastating to the local economy. Officials here are already coming up with ways to prepare for an outbreak of the virus.

It helps to be optimistic in this situation. Countries around the world are ramping up their containment measures. We’ll need to wait and see how long it takes for the virus to run its course.

Make sure to stay tuned for more updates over the next few weeks!

Las Vegas Casino Companies Are Affected by Coronavirus

The Wuhan Coronavirus first appeared in early December and has now spread to at least 20,000 individuals. It’s one of the world’s scariest virus outbreaks in recent memory and is showing no signs of slowing down. New reports indicate several Las Vegas casino companies are losing revenue due to the impact of this coronavirus.Casinos In Macau

For now, the vast majority of infected individuals are in China. Unfortunately, this is taking a serious toll on Macau, one of the world’s biggest gambling hubs. Today, we’re going to look at how this virus has spread so quickly, and discuss the impact that it’s having on the world’s gambling industry.

Wuhan Coronavirus Continues to Spread Around the World

Over the past few decades, China has been the center of several new virus outbreaks. In the early 2000s, this country experienced an outbreak of severe acute respiratory syndrome, or SARS. This was a coronavirus that caused chronic viral respiratory disease. It spread quickly and ultimately killed 774 individuals.

In December of 2019, the Chinese city of Wuhan began experiencing an outbreak of a new type of Coronavirus called 2019-nCoV. Researchers have traced the origins of the virus to a seafood market that allowed the sale of wild animals. Over the past two months, this virus has spread at an incredible rate with more than 20,000 now confirmed to be infected.

Nearly all of the confirmed cases have been in China. All but one death has also been confined to this country. Officials are doing everything they can to contain the virus and prevent it from spreading to other nearby countries.

One city that’s being heavily affected is Macau. This is one of the most-visited cities by Chinese tourists. Government officials here have looked at ways to ensure the outbreak does not reach Macau’s population.

Tourism in this city has dropped dramatically. Obviously, many of the casino operators here are losing revenue. This includes some of the biggest Las Vegas casino companies.

Las Vegas Casino Companies Struggle With New Macau Regulations

Macau is one of the world’s biggest gambling hubs. There are a huge number of major casinos here, some of which are operated by Las Vegas-based companies. Las Vegas Sands, MGM Resorts International, and Wynn Resorts all own property in this Chinese territory.

Unfortunately, most of these companies have been losing money here. Not all of the blame can be placed on the coronavirus, though. The US-Chinese trade war had led to a major decline in tourism here. The Wuhan Coronavirus is just making things worse.

2019-nCoV is scary for several reasons. Officials are struggling to contain the virus and its now infected individuals in every single Chinese province. Leaders in Macau have recently decided to shut down casinos as a way to prevent tourism in the city.

Some of the biggest Las Vegas casino companies are taking a major financial hit from this decision. The three companies we listed above state they will comply with the new regulations. Pansy Ho, one of the most powerful individuals in Macau, commented on the casino closure to the media this week.

“It was a hard decision, but we must make it for the health of Macao residents,” she said to the media. “Macao can still withstand economic losses.”

It’s unclear at this point how much revenue these companies have lost in Macau. Unless the situation improves and the government begins to cut down on the infection rate, these losses will continue.

Gambling Revenue in Las Vegas is Likely to Increase

The gambling industry in Macau is hurting right now. Over in Las Vegas, however, things are running smoothly. This city’s gambling revenue increased significantly in 2019 and most analysts believe the trend will continue this year.

Some were surprised to see the revenue increase in 2019. A huge number of states have recently legalized sports betting and expanded their casino gambling options. There was a thought that this would take away from Las Vegas’ tourism. For now, this doesn’t appear to be the case.

In fact, things are likely to get even better this year. Several major casino-resorts are set to open in Las Vegas in 2020. This includes Resorts World Las Vegas, the most expensive hotel-casino ever constructed in the city.

Downtown Las Vegas is improving rapidly, as well. Derek and Greg Stevens are opening Circa Las Vegas before the end of the year. This new casino-resort will be one of the most impressive venues in the Downtown area.

Las Vegas casino companies continue to bleed money in Macau. Fortunately, things are going well in the US. Make sure to stay tuned for more updates on this situation over the next few months!