This week news that there may soon be a vaccine to help stop the spread of the coronavirus pandemic has reportedly proved a boon for the price of shares in some of the biggest publicly listed casino operators in Nevada.
Several investors reacted to the revelation from pharmaceutical giant Pfizer Incorporated that its coming coronavirus vaccine is more than 90% effective at countering the highly-contagious ailment by sending the value of single shares in Wynn Resorts Limited up by 27.7% to as high as $102.60.
This was followed by a 14.9% improvement for the value of individual shares in MGM Resorts International as they closed the day to be worth $25.68.
There was also purportedly a 9.2% boost for Las Vegas Sands Corporation to $59.99 while rivals Boyd Gambling Corporation and Red Rock Resorts Incorporated each experienced 3% surges to see the price of their single shares worth $36.50 and $23.17 respectively.
The prospect of a vaccine against coronavirus ‘is clearly terrific’ news for casino firms such as MGM Resorts International and Caesars Entertainment Incorporated. Although the industry may now have to wait up to six months for the inoculation to be rolled out nationwide, as demand ‘is going to show up big’ once a sense of normalcy does return.
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