Casino stocks tumble as Macau shuts down businesses amid Covid-19 outbreak

Shares of casino companies operating in Macau’s gambling enclave fell after city officials ordered all businesses except essential services to close for a week in a bid to stem an epidemic of Covid-19.

Las Vegas Sands which owns several properties in Macau through its subsidiary Sands China fell more than 7% to $31.83 per share in Monday afternoon trading. The stock is down more than 15% so far this year, still outperforming the S&P 500’s 18% decline over the same period.


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