Why Casino Stocks Jumped Double Digits on Monday
Shares of casino stocks marched higher in trading Monday after it was announced that some restrictions on travel to Macao are being lifted. Wynn Resorts (NASDAQ: WYNN) saw shares climb as much as 10.3%, and Melco Resorts (NASDAQ: MLCO) rose 11.9% before the stocks closed the day up 10% and 11.1%, respectively. The biggest winner was MGM Resorts (NYSE: MGM), which will not only benefit from the increase in Macao visitors, it got a big new investor as well.
