More Casino Losses Seen on Chinese Corruption Crackdown: Options
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When it comes to the prospects for casino companies operating in China, options traders are betting against a quick recovery.
One-month contracts to sell shares of Wynn Resorts Ltd. and Las Vegas Sands Corp. cost the most since 2008 relative to bullish ones, data compiled by Bloomberg show. Bearish options on MGM Resorts International are near their more expensive levels in almost six years, relative to calls. All three companies operate in Macau, China’s gambling center.