Coronavirus fears continue to send casino share prices plummeting

Ongoing anxieties concerning the global coronavirus pandemic have recently sent stock prices falling around the world while yesterday reportedly saw the value of shares in Macau’s six licensed casino operators hit extraordinary lows.

According to a report from Inside Asian Gaming, the value of individual shares in Galaxy Entertainment Group Limited has now dropped by 38% in the last ten weeks to stand at just over $4.97 as of yesterday. This Hong Kong-listed firm is responsible for the giant Galaxy Macau, StarWorld Macau and Broadway Macau venues with its current valuation purportedly representing a 19.8% decline on last week’s finishing price of $6.20.

Sands slips:

Similarly, the Sands China Limited subordinate of American casino behemoth Las Vegas Sands Corporation reportedly closed out Thursday trading with its shares being worth only $3.37. This valuation for the operator behind The Venetian Macao, The Plaza Macao, Sands Macao, The Parisian Macao and Sands Cotai Central properties purportedly equates to a slump of 19 7BALL CC .4% from last week’s $4.18 and is approximately 39% down when compared with the $5.51 seen on January 2.

Historic tumble:

For its part and the MGM China Holdings Limited subsidiary of Las Vegas-headquartered MGM Resorts International reportedly finished yesterday with each of its shares being worth a mere $0.98, which represents a 13.2% fall from the $1.13 seen on March 10. Inside Asian Gaming detailed that this is the lowest valuation for the Macau-facing operator of the MGM Macau and MGM Cotai venues since late-February of 2016 and is 62% down on the all-time high of $3.13 its saw in January of 2018.

Slighter slump:

There has also reportedly been a 23.6% drop week-on-week in the value of shares for the firm behind Macau’s iconic Casino Grand Lisboa, SJM Holdings Limited, to $0.78 while local rival Melco Resorts and Entertainment Limited experienced a somewhat less severe 10.7% diminution yesterday to stand at $1.65.

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Momentous nadir:

Finally, shares in the Wynn Macau Limited arm of Wynn Resorts Limited reportedly finished trading on Thursday to be worth $1.33, which represents a three-year low and was 24.5% down when compared with the $1.76 seen on March 12. This firm is responsible for the 1,000-room Wynn Macau as well as the even grander Wynn Palace Cotai and is purportedly suffering alongside its competitors as gamblers stay away due in large part to the recent imposition of coronavirus-related travel restrictions alongside last month’s temporary 15-day shutdown.

American apprehension:

Casino firms are also suffering in the United States as CDC Gaming Reports used a Wednesday story to detail that MGM Resorts International saw its share price plummet by 25% on Wednesday to $7.14. Although this p subsequently improved yesterday to reach $7.70, the Las Vegas-headquartered firm responsible for over 30 gambling-friendly properties including the MGM Grand Las Vegas, Borgata Hotel Casino and Spa and the MGM Grand Detroit is now purportedly over 77% down on where it began the year at $33.66.

Slight spur:

Fellow Nevada operator Wynn Resorts Limited reportedly finished Wednesday trading with its shares worth $43.02, which is 70% lower than the $143.60 it reached on January 2. This firm runs the Wynn Las Vegas and Encore Las Vegas venues as well as Massachusetts’ impressive Encore Boston Harbor property and purportedly rallied somewhat yesterday to end the day with its shares at $46.58.

Comprehensive demur:

CDC Gaming Reports pronounced that Wednesday had furthermore seen the value of shares in Las Vegas Sands Corporation drop by 7.78% to $37.68 while regional rival Penn National Gaming Incorporated experienced an even steeper 38.34% decline to $4.52. The day also purportedly saw an almost 29.6% decline for Boyd Gaming Corporation to $7.84 with Red Rock Resorts Incorporated having closed the day down by 34.72% to $3.76.

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