Share prices leap for reopening US casinos

The smile is back on the faces of US casino owners as more venues are freed from the shutdown to begin operations again, albeit limited in guests numbers, machines and tables in operation and the services that they are permitted to offer.

Anticipating a fast return to normal, first Strip casinos to open in Las Vegas last week are already reporting positive revenues and their share prices are escalating accordingly. The share prices of locations such as Wynn Resorts, Las Vegas Sands and MGM all tumbled by as much as 20 per cent in a couple of months, but much of that is already being regained, with MGM up 33 per cent in one week.

Penn National, one of the most prolific operators in other states, has been back in business somewhat longer than its colleagues in Vegas and has seen its stock rise by over 40 per cent in its return.

Native American venues in Wisconsin, locations in Indiana, local casinos in Nevada, notably Lake Tahoe and elsewhere have all come back on stream. In Colorado the first month back in action saw sports betting – even without sporting events – hit $25m.