Casino stocks rally as China ease covid restrictions

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Macau-focused gaming stocks like Las Vegas Sands (LVS.US), Wynn Resorts (WYNN.US) rose more than 5.0% on Tuesday as the Chinese government decided to ease coronavirus-induced restrictions in capital Beijing and the financial hub of Shanghai. From the casino operators point of view, less restrictive quarantine rules for international arrivals are the most important, which should bring more gambling enthusiasts to Macau, which is China's gambling hub.

Las Vegas Sands (LVS.US) launched today’s session with a bullish price gap, however sellers failed to break above downward trendline and price pulled back slightly. If sellers manage to close today's gap, then the road towards recent lows at $28.80 will be left open. Source: xStation5

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