Regulators have signaled the resumption of Mainland tour groups and issuing of IVS eVisas to Macau aimed at boosting the economy on the island. Macau Lifting Restrictions Lifts Casino StocksĬhina has signaled the reopening of Macau to tour groups from its zero tolerance COVID-19 policy. The bottom line is this leaves more upside in shares of MGM. BetMGM partnered with NBC Sports (NASDAQ: CMCSA) for the Sunday Night Football show where it will be featured throughout the show highlighting stories and betting odds. It's mobile and online sportsbook and igaming app BetMGM continues to gain market share against competitors including DraftKings (NASDAQ: DKNG) and Penn Entertainment (NASDAQ: PENN). Las Vegas hotel occupancy rates are back to 90% as the Company has only been able to fill around 2,000 of the 5,000 job openings it has. Las Vegas is back and MGM is benefitting from the recovery while being least exposed to the COVID shutdowns in Macau like its competitors Wynn and Las Vegas Sands. Ironically, its shares are down (-25%) lagging Las Vegas Sands stock trading up 10% on the year. Casino operator MGM Resorts (NYSE: MGM) has been profitable during the post-pandemic recovery faring much better than leading rival casinos Las Vegas Sands (NYSE: LVS), Wynn Resorts (NASDAQ: WYNN), Melco (NASDAQ: MLCO).
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