Caesars, MGM, and Wynn Perk Up as Las Vegas Returns to 50% Capacity
Several casino companies saw their stock value rise on Monday as Nevada authorities effected a capacity boost, letting casinos and restaurants operate at 50% of their regular customer volume. Some of the gainers included Caesars Entertainment (NASDAQ: CZR), Wynn Resorts (NASDAQ: WYNN), MGM Resorts International (NYSE: MGM), and Boyd Gaming (NYSE: BYD), as people flocked to the glitz of "Sin City" to spend their cash on the world-famous Strip, The Las Vegas Review-Journal reports.
The capacity increase went into effect on Monday. The numbers allowed inside a building were based on the limits set in the fire code. Capacity was set at 25% since November 2020, but the Nevada government increased this to 35% on March 1 and now to 50% as of March 15. One day before, on March 14, COVID-19 activity remained low, with one death and 222 new cases for the entire state, The Daily Mail reports.
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Source Fool.com
