Macao Casino Stocks Slump on First Covid Outbreak in Months

(Bloomberg) — Macao casino stocks plunged on Monday after the city reported more than two dozen Covid-19 infections over the weekend, its first outbreak in eight months, prompting more border restrictions from the Chinese mainland that would further hit tourism in the world’s largest gambling hub.

A Bloomberg Intelligence index of Macao’s six major casino operators fell as much as 5%, taking losses this year to 28%. Sands China Ltd. plunged as much as 8.3%, while Wynn Macau Ltd. dropped more than 7%.