Casino Stock Prices Are Starting to Jump: Here’s Why

The world’s casino industry is slowly beginning to get back on track. As you might expect, investors are starting to take notice. This week, casino stock prices began to surge and many are wondering why.Paper On Stocks And Shares

There’s one key reason for this jump. Fortunately, there’s still time for investors to profit. Let’s take a look at what’s going on here.

How is the US Casino Industry Faring Right Now?

The months between March and June were likely the worst in the history of the US casino industry. It was the first time that all of the country’s casinos were forced to completely shut down. Obviously, casino companies around the country earned almost no revenue during this time.

As time went on, state officials realized something needed to change. Many parts of the country rely on their gambling industries to bring in tourists. That’s especially true in Nevada, the largest gambling destination in the world.

Governor Steve Sisolak gave Nevada’s casinos the green light to begin operating again on June 4th. Today, nearly all of the casinos on the Las Vegas Strip are now operating again. Tourism rates are still down here, though. This probably won’t change until the casinos are able to operate without major restrictions set in place.

New Jersey took a little longer to get back on track. Governor Murphy announced that casinos in Atlantic City would open back up over the Fourth of July weekend. Opening day was a success, yet it will be a long time before gaming revenue gets back to the level it was last year.

Casino companies have begun operating again, but things are far from ideal. Many of these companies are now looking at their overseas properties as primary money-makers. To the surprise of many, casino stock prices began to surge this week.

Here’s Why Casino Stock Prices Jumped This Week

Many investors were excited to see the US casino industry get back on track. Unfortunately, rates of Covid-19 have continued to climb in the United States and many casinos may be forced to close down again soon. Perhaps that’s why so many were surprised to see the share prices for many casino companies go up recently.

There’s a key reason why this is.

The Chinese government has just announced that it plans to loosen travel restrictions on visitors from Macau. Previously, China has made it very difficult for mainlanders to make the trip to Macau and come back. This is huge news for the territory of Macau which, like Las Vegas, relies almost entirely on tourism and gambling revenue.

As many already know, many of the top US casino companies have casinos in Macau. Restrictions are significantly looser in this city. Now that travel restrictions are loosening up, revenue here is likely to increase significantly.

Casino companies are profiting off this news. This week, Wynn Resorts, Las Vegas Sands, and MGM Resorts International all saw their share prices increase. It’s great news for all three of these companies, each of which has property in Macau.

If tourism rates begin to truly surge, we may see casino stock prices rise even more. Investors are certainly taking a good look at this situation. Stay tuned for updates over the next few months!

Eldorado-Caesars Merger is Nearly Complete!

As we’ve already mentioned, this has been an extremely tough past few months for casino companies in the US. While everything has been going on, Eldorado Resorts and Caesars Entertainment have been working to complete their merger. In case you’re unaware, Eldorado paid an astounding $17.3 to acquire Caesars in June of last year.

This is the largest merger ever made between two casino companies. Before it can be complete, though, both companies need approval from various groups. That includes state gambling commissions around the country. They also needed the green light from the FTC.

It appears this deal is finally about to wrap up. Eldorado and Caesars have received approval from many different gambling commissions already. Recently, the FTC approved the merger. These companies are now meeting with members of the last state gambling commissions to receive final approval.

The Indiana Gaming Commission is requiring that Ceasars sell three of its properties before the deal can be complete. Under normal circumstances, that wouldn’t be too difficult for the company. Some feel it could take time to find a buyer for these venues right now, though.

Casino stock prices are always going up and down. We’re likely to see this trend continue over the next few months. Hopefully, the US casino market improves and casino companies here are able to earn enough revenue to function normally.

Do you plan on investing in any US casino companies? Tell us which ones in the comments section below!

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!

Las Vegas Sands Stock Prices Are Fluctuating Right Now

Today, Las Vegas Sands is one of the biggest and most profitable casino companies in the world. It operates major casino-resorts around the world and continues to expand into new territories. In recent weeks, Las Vegas Sands stock prices have begun to fluctuate.Las Vegas Sands Logo

There are several reasons why this is. Today, we’re going to discuss the company’s current share prices and look at how they might change over the next few months.

Let’s get into it!

2019 Was an Interesting Year for Las Vegas Sands

Few major casino operators are as well-known as Las Vegas Sands. The company was founded back in 1988 by Sheldon Adelson, who has remained CEO ever since. Over the past few decades, this company built massive casino-resorts all over the US and abroad.

2019 proved to be a very interesting year for LVS. Gambling revenue rose and fell. In the year’s second quarter, revenue appeared to be soaring. In the third quarter, revenue earnings came in slightly lower than expected.

LVS ended the year strong financially, yet the company was forced to deal with several nagging issues. This includes a lawsuit against the aforementioned Sheldon Adelson. One of Las Vegas’ local newspapers filed a lawsuit against the CEO for attempting to monopolize the city’s news industry.

Las Vegas Sands continued to invest heavily in its overseas companies last year. This is especially true in Macau. More than $2 billion is being spent on upgrades to the properties here including the Venetian Macau, and Sands Macau.

Some felt this was a risky move. Macau’s gambling revenue has been declining due to the drop in China’s economy. Recently, Las Vegas Sands stock prices have been fluctuating and analysts are beginning to pinpoint why.

Las Vegas Sands Stock Prices Dropped This Week

Officials within LVS have been celebrating for the past few months. Since November, the company’s share prices have risen by an incredible 15%. Most of this is due to the Chinese government’s plan to diversify Macau into a major financial hub.

That’s not the only major accomplishment for the Las Vegas-based casino operator. Just last week, LVS earned a spot on the “world’s most admired companies” list for its efforts to fight against climate change. It seemed like everything was going right thus far into 2020.

This week, however, Las Vegas Sands stock prices have taken a slight hit. This is largely due to fears of the coronavirus affecting the company’s operations in Macau.

For weeks, China has been working to contain a deadly new virus known as 2019-nCoV. It originated in Wuhan and quickly spread throughout the country. There have even been recorded cases in Thailand, Japan, and the United States.

The concerns over this virus have taken a toll on LVS’ share prices. On Tuesday, the company’s stock fell 4.3% to $70.85.

This isn’t the only company that’s taken a hit due to the coronavirus.

Wynn Resorts also experienced a drop in its stock prices. Until the outbreak is contained, this trend is likely to continue.

Las Vegas Sands Continues to Push for Tokyo Casino

Las Vegas Sands, like almost all other major US casino companies, has been pushing hard to break into the newly-emerging Japanese casino market. Over the next few years, three companies will be handed out a license to operate casino-resorts in this country.

Based on several reports, Japan will grow to have one of the largest casino markets in the world. Each of these casino-resorts here will cost billions of dollars to construct.

For a time, officials within Las Vegas Sands announced they were interested in opening one of these venues in the city of Osaka. That is no longer the case. The company now claims that it is focused on opening an integrated resort in Tokyo. Many analysts believe that LVS will be one of the three companies the Japanese government chooses to grant a gaming license to.

Las Vegas Sands stock prices have temporarily dropped. Hopefully, this won’t last long. We’ll need to wait and see exactly how the virus in China affects Macau’s economy.

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