• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 6 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

MGM China hits four year low as gaming stocks suffer massive coronavirus hit

Ben Blaschke by Ben Blaschke
Thu 12 Mar 2020 at 05:41
MGM China hits four year low as gaming stocks suffer massive coronavirus hit
38
SHARES
881
VIEWS
Print Friendly, PDF & Email

MGM China’s share price has fallen to its lowest in more than four years as investor sentiment becomes increasingly shaky on coronavirus fears.

At market close on Wednesday, MGM China’s stocks sat at HK$9.14, having reached as low as HK$8.81 on Tuesday – its lowest since 28 February 2016 and 62% down on its all-time high of HK$24.30 achieved on 14 January 2018. The decline was similarly felt by parent company MGM Resorts whose share price of US$17.53 on Monday was the lowest since 23 March 2016. MGM Resorts closed at US$18.08 on Wednesday.

MGM China’s share price hit a four year low this week.

Wynn Macau fell to a three-year low on Tuesday with its price of HK$14.04 not seen since 5 March 2017. The decline compares with an all-time high of HK$30.15 on 8 April 2018 and represents a 29.8% fall in the space of two months from HK$20.65 on 12 January 2020. Similarly, parent company Wynn Resorts saw its share price fall to US$80.16 on Wednesday – the lowest since 27 December 2017 – before closing at US$80.87.

While MGM China and Wynn Macau have felt the brunt this week, stock market pain has nevertheless been a common theme for Macau’s gaming operators.

Wynn Macau reached a three year low on Tuesday.

Melco Resorts & Development, listed on the NASDAQ, fell to its lowest share price since 19 November 2018 on Monday at US$14.96, Sands China to its lowest price since 30 December 2018 on Tuesday at HK$32.45 while Galaxy Entertainment Group slipped to its lowest share price since 13 October 2019 last Friday at an intra-day price of HK$48.15. Galaxy’s price had been as high as HK$62.20 as recently as 12 January 2020.

SJM’s price of HK$7.88 had reached a similar low on 1 December 2019 but had climbed to HK$10.50 on 12 January 2020 before falling again on coronavirus fears.

The industry-wide declines come in the wake of a massive decline in visitation to Macau due to tightened border restrictions aimed at preventing the spread of coronavirus. Authorities revealed over the weekend that there were no longer any active cases of COVID-19 in Macau following the release from hospital of the 10th and final confirmed case, however the news was less positive for operators with Macau’s GGR numbers tracking down 80% year-on-year during the first eight days of March.

Macau’s GGR fell 87.8% year-on-year in February to MOP$3.10 billion.

Share17Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Game changer: WPT’s Adam Pliska

Tournament poker now legal in Thailand as Acting PM overturns long-standing ban

by Ben Blaschke
Wed 6 Aug 2025 at 05:52

Tournament poker is now officially legal in Thailand after the government on Monday overturned a long-standing ban on the activity. According to The Bangkok Post, Acting Prime Minister Phumtham Wechayachai signed an order legalizing poker games for money under controlled...

10 Years Ago: The Star war

NSW casinos given two-year reprieve on plan to lower daily cash limit to AU$1,000

by Ben Blaschke
Wed 6 Aug 2025 at 05:21

The NSW state government has postponed by two years a plan to lower the daily cash limit for casino customers from AU$5,000 (US$3,235) to AU$1,000 (US$647) by two years. The new limit – representing the amount of raw cash each...

Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Casino revenue at Grand Korea Leisure up 12% month-on-month to US$28 million in July

by Newsdesk
Wed 6 Aug 2025 at 05:03

Foreigner-only casino operator Grand Korea Leisure (GKL) continued its recent surge in July, with casino revenue more than doubling year-on-year to KRW39.0 billion (US$28.1 million), also representing a 12.0% improvement over June. The solid numbers echo similar growth being experienced...

Zitro reduced amount of non-recyclable waste produced by 73% in just two years

Zitro reduced amount of non-recyclable waste produced by 73% in just two years

by Newsdesk
Wed 6 Aug 2025 at 04:51

Spanish gaming supplier Zitro has revealed it reduced the amount of non-recyclable waste it produced in 2024 by 73% compared to its baseline year of 2022. The achievement, it said, marks significant progress in its environmental strategy and commitment to...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語