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Casino Stocks Are Dropping as Gamblers Steer Clear of Macau
Casino operators in Macau are taking a beating as fear of the coronavirus has caused a surge in trip cancellations to the casino hub.
Just last week, Wall Street appeared to be shaking off worries about the coronavirus outbreak as analysts and others noted that China’s response had been relatively swift, at least in comparison to how Beijing handled the severe acute respiratory syndrome outbreak in 2003. SARS infected just over 8,000 people, killing nearly 800, according to World Health Organization figures cited by the Centers for Disease Control.
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“Melco Resorts (MLCO), MGM China, and Wynn Macau are undervalued and could be opportunities for investors,” she wrote, noting that because the gambling industry is more mature now, the rebound may not be as steep.
There are no signs yet of when a bounce back might come. New instances of coronavirus are still being discovered and the disease’s global reach is growing. And even if Macau is able to attract customers from other areas while travel bans remain in effect, they are less likely to be the high-rollers the area needs, Curtis wrote.
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https://www.barrons.com/articles/casino-...yptr=yahoo
stellvertretend der WYNN Chart:
![[Bild: WYNNc1dl1310.png]](https://finviz.com/publish/012720/WYNNc1dl1310.png)
Casino operators in Macau are taking a beating as fear of the coronavirus has caused a surge in trip cancellations to the casino hub.
Just last week, Wall Street appeared to be shaking off worries about the coronavirus outbreak as analysts and others noted that China’s response had been relatively swift, at least in comparison to how Beijing handled the severe acute respiratory syndrome outbreak in 2003. SARS infected just over 8,000 people, killing nearly 800, according to World Health Organization figures cited by the Centers for Disease Control.
...
“Melco Resorts (MLCO), MGM China, and Wynn Macau are undervalued and could be opportunities for investors,” she wrote, noting that because the gambling industry is more mature now, the rebound may not be as steep.
There are no signs yet of when a bounce back might come. New instances of coronavirus are still being discovered and the disease’s global reach is growing. And even if Macau is able to attract customers from other areas while travel bans remain in effect, they are less likely to be the high-rollers the area needs, Curtis wrote.
...
https://www.barrons.com/articles/casino-...yptr=yahoo
stellvertretend der WYNN Chart:
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