Why Las Vegas Sands, Melco Resorts & Entertainment And Wynn Resorts Shares Are Falling Wednesday

Las Vegas Sands Corp. LVS, Melco Resorts & Entertainment Ltd MLCO and Wynn Resorts, Limited WYNN shares are trading lower Wednesday morning. Shares of casinos with Macau exposure are trading lower amid concerns of rising COVID cases in China following the easing of some restrictions.

What's Happening In China?

Our Benzinga team reported China will reopen borders and abandon quarantine after it downgrades its treatment of COVID on January 8.

The decision is the mainland’s last step in shedding three years of zero-COVID and pivoting to living with the virus.

The relaxation of limitations has led to an increase in uncontrollable COVID cases in China, which has resulted in a lack of both staff across industries and medications...Read More

According to data from Benzinga Pro:

• LVS is trading lower by 3.72% to $46.65
• MLCO is lower by 7.42% to $11.18
• WYNN is lower by 3.19% to $81.64