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Why Casino Stocks Soared This Week to Beat Out the Stock Market

·2 min read
Why Casino Stocks Soared This Week to Beat Out the Stock Market
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Shares of both Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN) finished the week in the black, according to data from S&P Global Market Intelligence, while Caesars Entertainment (NASDAQ: CZR) erased most of a large deficit after Shanghai officials announced they will end weeks of strict lockdowns and attempt to reopen again in a few days. Sands ended the week up 1.1% from where it closed last Friday after having been down 12% going into the last day of trading, while Wynn was essentially flat after having been down by a like percentage. China has dealt harshly with its citizens to contain new outbreaks of COVID-19, with the Shanghai population of 25 million people absolutely forbidden from leaving their homes, oftentimes not even allowing for deliveries, leading to massive food shortages.