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MGM and Wynn Stocks Fall as Macau Shuts Down Casinos Due to Covid

Casino stocks dropped on Monday after Macau, the world’s biggest gambling hub, shut almost all of its businesses to try to contain the spread of its biggest Covid outbreak in two years. The news sent shares in Macau’s biggest casino operators sharply down, with Sands China  (ticker: 1928.HongKong) losing 8.15%, while Wynn Macau declined (1128.HongKong) 6.68% and Melco International (0200.HongKong) fell 7.13%. Galaxy Entertainment (0027.HongKong) and MGM China (2282.HongKong) saw their stocks fall 4.93% and 5.36% respectively.

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