As things stand, the casino industry isn’t really doing all that well. The COVID-19 crisis and the ensuing economic downturn has taken its toll on casino stocks as well. The major American casinos depend heavily on Macau.. It is the largest gaming market on the planet, and the only place in China where casinos are legal. This makes casino stocks extremely sensitive to developments that have any impact on Macau’s gaming activities. In 2014, the Chinese anti-corruption regulatory crackdown reduced the gaming activity in the area, leading to a drop in Casino stocks. Luckily, the downward trend only lasted for two years and gaming activity resumed completely after two years. However, another problem presented itself in front of Macau’s gaming activities, the America-China trade war. However, that only lasted for one year before things could go back to normal. The COVID-19 crisis has gone on to become Macau’s strongest challenge ever. It has caused a huge hit in the gaming business. All casinos were closed for a long period of time because of the COVID-19 crisis. They have reopened now, but there are very strict regulations and requirements governing them. This has reduced tourism levels and gaming activity in Macau. The first 11 months of 2020 saw Macau’s gross gaming revenue plummet by 80.5%. This clearly means that investors should be very careful while picking their casino stocks as they are extremely dependent on other factors, most notably what happens in Macau. Here Are the Best Casino Stocks Right Now
Top 4 Best Casino Stocks in 2021?
