Wynn Resorts, MGM Resorts, Las Vegas Sands Retail Sentiment Upbeat As Macau Cyclone Recedes

Cyclone warning for the weekend drove casino operators' shares lower on Friday.

Casino operators Wynn Resorts, MGM Resorts, and Las Vegas Sands will be in focus as trading kicks off on Monday, according to Stocktwits trends.

On Friday, shares of Wynn and MGM Resorts fell around 7.3%, their worst performance in several months, while those of Las Vegas Sands fell 2.4% after reports of a tropical cyclone approaching Macau, China, a key gambling destination.

According to the latest report in Macao News, strong winds and rains receded in the latter part of Sunday, and public transport and other services gradually resumed. There were only a few incidents reported. 

U.S. casino operators generate substantial earnings from their Macau operations. Business in the region has shown strong momentum in recent months, with analysts expecting a 13% growth in Macau's gross gaming revenues (GGR) in October. The figure rose 6% last month.

"Looks as if last week's fears of a major shutdown of Macau over the weekend due to cyclone Matmo (which likely would have hurt Golden Week GGR) have turned into a big nothingburger," a Stocktwits user posted.

Notably, as of early Monday, the retail sentiment was 'bullish' for Wynn and MGM Resorts, and 'extremely bullish' for Las Vegas Sands on the platform. Wynn saw a 900% jump in message volume over the last week, and a 150% in the past 24 hours.

Year-to-date, Wynn shares are up 43%, while MGM Resorts and Las Vegas Sands stocks are down 2.8% and 0.5%, respectively.

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