Casino Stocks Pop as Macau Gaming Revenue Surges

Published July 01, 2025

12:25 PM EDT

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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