China's Stimulus Measures Propel Casino Stocks with Macau Holdings

Interest rate cuts and economic incentives from Beijing boost investor confidence in major U.S. casino operators.

Shares of Wynn Resorts, Las Vegas Sands, and MGM Resorts International surged following China's announcement of economic stimulus measures.
China's central bank cut interest rates and injected liquidity into the banking system to spur economic growth.
Morgan Stanley upgraded Wynn Resorts to 'overweight,' citing favorable risk-reward and growth opportunities.
The stimulus package aims to increase business at Macau casinos, with expectations of higher foot traffic and spending.
Las Vegas Sands and Wynn Resorts shares moved into positive territory for 2024, while MGM Resorts remains down 11% for the year.