Wynn, Las Vegas Sands, MGM Resorts Jump After Macau Reports Strong Casino Numbers For June

U.S. casino stocks rallied on Tuesday after Macau, one of the biggest casino hubs in the world, reported strong business for June.

Shares of Wynn Resorts (WYNN) and Las Vegas Sands (LVS) rose nearly 9%, and those of MGM Resorts International (MGM) ended 7.3% higher. All three were among the top-performing S&P 500 stocks on Tuesday.

The Macau Gaming Inspection and Coordination Bureau reported that casino revenue rose 19% to 21.06 billion Macanese patacas (MOP), equivalent to approximately $2.61 billion, last month.

That's higher than the 5% increase in May and the 1.7% gain in April.

According to a MarketWatch report, Citi analysts said that business boomed in the final eight days, likely due to a series of concerts by Cantopop singer Jacky Cheung.

The strong June print is "another testimony to players' passion about gaming despite the geopolitical tensions and economic uncertainty," according to Citi.

On Stocktwits, the retail sentiment for Wynn shifted to 'bullish' from 'neutral', and MGM Resorts shifted to 'neutral from 'bullish’. The sentiment for Las Vegas Sands remained in 'neutral' territory.

Wynn, Las Vegas Sands, and MGM Resorts derive a significant share of their overall business from Macau, making them also closely tied to the performance of the Chinese economy.

WYNN shares are up 18.3% year-to-date, and LVS stock is down 7.7%. MGM shares are up 6.5%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.