Macau Casinos Jump Most in Six Months on Tourism Revival Bet

Wynn, Las Vegas Sands lead the S&P after tour groups return
Gaming revenue had plunged as travel curbs hurt tourism

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By Shirley Zhao and Coco Liu

September 24, 2022 at 8:11 AM UTC

Updated on

September 26, 2022 at 3:07 PM UTC

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Macau casino stocks surged the most in six months after the city announced plans to welcome back tour groups from mainland China as soon as November, a breakthrough for the gaming hub’s Covid-hammered, tourism-dependent economy.

Wynn Resorts Ltd. soared as much 15% Monday to $68.89 in New York, the biggest intraday gain since November. Las Vegas Sands Corp. jumped 14% to $40.50, the biggest advance since May. Both stocks led the S&P 500 index. Shares of MGM Resorts International were up as much as 5%.