Andrew Kessel
1 min read
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Wynn Resorts’ operations in Macau make the company heavily exposed to the Chinese economy
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Casino stocks rose Tuesday as Macau regulators reported a surge in June gaming revenue.
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Wynn Resorts, Las Vegas Sands, and MGM Resorts stocks all traded higher.
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The three casino operators’ Macau operations make them heavily exposed to the Chinese economy.
Shares of casino operators Wynn Resorts (WYNN), Las Vegas Sands (LVS), and MGM Resorts International (MGM) rallied Tuesday as regulators in Macau reported a surge in June gaming revenue.
Casino revenue jumped 19% year-over-year to 21.06 billion Macanese pataca (MOP), or roughly $2.61 billion, in June, according to the Macau Gaming Inspection and Coordination Bureau. Through the first half of the year, 2025 gaming revenue of 118.77 MOP has outpaced 2024 levels by more than 4%.
Shares of Wynn and Las Vegas Sands each added 8% in recent trading, and MGM gained 7%. All three are among the top-performing S&P 500 stocks Tuesday. For the year, Wynn shares are up 18% while MGM Resorts stock has improved 6%. Las Vegas Sands shares are down about 7% in 2025.
The three casino operators are heavily exposed to the Chinese economy given their casino operations in Macau, with both Wynn and Las Vegas Sands generating 47% of their first-quarter adjusted property EBITDA in the region. Meanwhile, MGM China produced 45% of MGM’s Q1 adjusted EBITDA.
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