Casino stocks fall as Macau shutters business amid Covid-19 outbreak

-0 cStoSw">Shares of casino companies operating in Macau’s gambling enclave fell after city officials ordered all businesses except essential services to close for a week In an effort to mitigate the outbreak of COVID-19.

Las Vegas Sands which also owns several properties in Macau through its subsidiary sand china It fell more than 7% to $31.83 per share in afternoon trading on Monday. The stock is down more than 15% so far this year, yet outperformed the S&P 500’s 18% decline over the same period.