Shares of casino companies with operations in the gambling enclave of Macau fell after city officials ordered all businesses aside from essential services to shut down for a week in an attempt to tamp down a Covid-19 outbreak.
Las Vegas Sands which owns several properties in Macau through its subsidiary Sands China fell $2.17, or 6.3%, to $32.21 a share on Monday. The stock is down more than 14% so far this year, still outperforming the S&P 500’s 19% decline over that same period.
