Las Vegas Sands and Wynn Stocks Are Leaping. China Is the Reason.

Shares of Macau casino stocks are surging Tuesday morning after China announced it would loosen travel restrictions for international travelers.

China’s National Health Commission said that people arriving from outside the country would be required to quarantine for 10 days, as opposed to the previous 21-day quarantine period.

This is good news for casino companies such as Wynn Resorts WYNN +3.15% (ticker: WYNN ) and Las Vegas Sands LVS +4.04% ( LVS ), both of which own substantial portions of their Macau operations. Wynn owns 72% of its Chinese subsidiary, while Sands owns about 70%.

Wynn stock is leaping 7% to $61.60 in Tuesday morning trading, while Sands stock is soaring 9% to $36.17. Meanwhile, the S&P 500 index sports a 1% gain.

Source: https://www.barrons.com/articles/las-vegas-sands-wynn-stock-price-china-51656423351?tesla=y