Uneventful Start To The Week For US Casino Gaming Stocks

Las Vegas Sands Monday ended up being an uneventful day for US-based casino gaming companies on the stock market. None of the major companies saw their stock price move in either direction by more than three percent.

Last week was a busy week for gaming operators largely because of the Macau casino gambling industry. Macau had been benefiting from eased Chinese visa restrictions, but last week it was learned that those restrictions may be tightening again.

MGM Mirage on Monday had their stock price stay relatively close to where it opened the week. The stock price of $11.80 was up less than one percent. Wynn Resorts also had their stock rise less than one percent, to $64.66.

Wynn Macau, the Asian branch of Wynn Resorts, recently raised $1.6 billion in an initial public offering in Asia. They received a listing on the Hong Kong Stock Market as well. MGM and Las Vegas Sands are both preparing for a similar IPO in Asia.

MGM announced this past week that they, and their partner, Pansy Ho, are searching for a location for a new resort casino in Macau. This comes at a time when the government in Macau is considering limiting the amount of gambling taking place in the area.

The stock on Monday that had the biggest drop in the US was Pinnacle Entertainment. Their stock fell to $10.91, down 2.68%. Boyd gaming dropped 1.31%, to $11.28 a share.