Casino stocks with exposure to Macao took a nosedive on Tuesday after a few announcements from the government. One was that COVID-19 cases are on the rise in the Chinese province of Fujian and that could result in fewer visitors to Macao. More concerning is potential government restrictions on gambling in the region, which could turn gambling stocks from steady growth stocks to risky bets overnight.
The impact was swift on the stock market. Shares of Wynn Resorts (NASDAQ:WYNN) fell as much as 13.8%, Las Vegas Sands (NYSE:LVS) dropped 13.9%, and Melco Resorts & Entertainment (NASDAQ:MLCO) was off 9.1% at one point. The stocks are down 11%, 10.4%, and 6.4% at 3:15 p.m. EDT. The drop has even swept up MGM Resorts International (NYSE:MGM), which fell as much as 5.5% today.
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Top 5 Casino Stocks To Invest In Right Now: Rave Restaurant Group, Inc.(RAVE)
Rave Restaurant Group, Inc., together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates in two segments, Franchising and Food and Supply Distribution, and Company-Owned Restaurants. The companys buffet restaurants, which are located in free standing buildings or strip centers in retail developments that offer dine-in, carryout, and catering services, as well as delivery services. Its delco restaurants provide delivery and carryout services and are located in shopping centers or other in-line retail developments. The companys Express restaurants serve customers through various non-traditional points of sale and are located in convenience stores, food courts, college campuses, airport terminals, travel plazas, athletic facilities, or other commercial facilities. RAVE Restaurant Group, Inc. also operates and franchises fast casual restaurants under the Pie Five Pizza Company or Pie Five trademark. As of September 24, 2015, it owned, operated, and franchised approximately 300 Pie Five Pizza Co. and Pizza Inn restaurants. The company was formerly known as Pizza Inn Holdings, Inc. and changed its name to RAVE Restaurant Group, Inc. in January 2015. RAVE Restaurant Group, Inc. was founded in 1958 and is based in The Colony, Texas.
Advisors’ Opinion:
- [By Stephan Byrd]
Rockwell Collins, Inc. (NYSE:COL) saw some unusual options trading activity on Tuesday. Stock investors bought 1,159 call options on the stock. This represents an increase of 1,367% compared to the typical daily volume of 79 call options.
- [By Lee Samaha]
Investors in United Technologies (NYSE:UTX) should prepare for some pretty big changes at the conglomerate. It’s been a long time coming, but the company’s acquisition of Rockwell Collins (NYSE:COL) should be completed by the end of September, and within a couple of months, management will publicly outline the results of its review of strategic options. They are widely expected to deliver a breakup plan. Here’s the lowdown, and why splitting up the business makes sense.
- [By Logan Wallace]
Raymond James & Associates raised its stake in Rockwell Collins, Inc. (NYSE:COL) by 1.0% in the second quarter, Holdings Channel reports. The fund owned 43,229 shares of the aerospace company’s stock after purchasing an additional 441 shares during the quarter. Raymond James & Associates’ holdings in Rockwell Collins were worth $5,822,000 at the end of the most recent reporting period.
- [By Joseph Griffin]
Tredje AP fonden cut its position in shares of Rockwell Collins, Inc. (NYSE:COL) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,928 shares of the aerospace company’s stock after selling 1,285 shares during the period. Tredje AP fonden’s holdings in Rockwell Collins were worth $1,337,000 at the end of the most recent quarter.
Top 5 Casino Stocks To Invest In Right Now: PGT, Inc.(PGTI)
PGT, Inc. manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and a range of impact-resistant vinyl window and door products for the mid- to high-end of the replacement market, primarily for single and multi-family homes and low to mid-rise condominiums. It also provides architectural systems products, which provide protection from hurricane-force winds and wind-borne debris for mid-and high-rise buildings; aluminum impact-resistant windows and doors; and non-impact-resistant aluminum and vinyl frame windows and doors. In addition, the company offers non-glass vertical and horizontal sliding panels for porch enclosures, such as vinyl-glazed and aluminum-framed products used for enclosing screened-in porches that provides protection from inclement weather; and commercial storefront window system and entry doors. PGT, Inc. markets its products under the WinGuard, Eze-Breeze, SpectraGuard, PremierVue, WinGuard Vinyl, EnergyVue, Estate Collection, Sentinel, Estate Entrances, Commercial Series, and Targa brand names. It serves residential new construction, and repair and remodeling end markets through window distributors, building supply distributors, window replacement dealers, and enclosure contractors. The company was formerly known as JLL Window Holdings, Inc. and changed its name to PGT, Inc. in February 2006. PGT, Inc. was founded in 1980 and is based in North Venice, Florida.
