Macau casinos seen bottoming

Investor's Business Daily

Shares of Las Vegas Sands (LVS) and other Macau-centric casino stocks continued to work through choppiness, but they're bottoming out after sliding in recent months, Wells Fargo said. Casino stocks have fallen since March as VIP gamblers stay away from Macau amid tighter regulations designed to crack down on lenders who provide money to gamblers and, China says, sometimes engage in illegal money laundering. Sands shares rose 1.4%, MGM Resorts Int'l (MGM) rose 1.9% and Wynn Resorts (WYNN) rose 2%.

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