Why Shares of MGM Resorts Plunged 49.5% in the First Half of 2020
Shares of gambling industry giant MGM Resorts International (NYSE: MGM) fell 49.5% in the first half of 2020, according to data provided by S&P Global Market Intelligence, as the industry was shut down around the world. And there's no telling when business will return to normal.
COVID-19 closed MGM Resorts' properties from Macao to Springfield, Massachusetts, causing the stock to drop in the first half of the year. Not only are investors disappointed with the drop in revenue, but they also have to question if big casino companies will survive should the pandemic last for a year or more.
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Source Fool.com
