Why Las Vegas Sands' Shares Have Dropped 34% in the First Half of 2020
Shares of casino giant Las Vegas Sands (NYSE: LVS) dropped 34% in the first half of 2020, according to data provided by S&P Global Market Intelligence, as the gambling industry was turned on its head. And there may be even more uncertainty in the second half of the year.
COVID-19 has hit the resort and casino business hard, the biggest reason shares are down. As a company focused in Asia, the 77.4% drop in gambling revenue in Macao is the one indicator of just how bad conditions have gotten for Las Vegas Sands' main market.
The Macao skyline. Image source: Getty Images.
Source Fool.com
