Macau giants see positive movement on the stock exchange as large casinos reopen after Covid-19 lockdown.
Macau.- As mayor casinos reopen in Macau, casino-related stocks have seen a rebound this week.
Market analysts say they expect casino stocks to rally still further in the coming weeks as the economy starts to move and investors buying battered shares on the the S&P 500’s casino-related subgroup. Investors are mainly favouring companies that have exposure in China.
Companies such as Sands and LVS have gained favour among investors given the prospects of their operations the Asia resuming, analysts told Business Times.
The Covid-19 pandemic at one point reduced gaming revenues in Macau by more than 90 percent.
With most of the city’s gambling destinations now reopening, investors are now expecting a recovery in the coming quarters.