Wynn’s Macao win

Casino operator Wynn Resorts jumped by the most in three months on reports that the gambling haven of Macao will ease some travel restrictions starting in November.

Las Vegas-based Wynn opened its over 1,000-room and suite resort in the Chinese administrative region in 2006.

Visitor traffic was severely curtailed when Beijing banned tour groups to travel to Macao from mainland China at the start of the COVID pandemic.

Media reports Monday cited Macao officials who said China plans to allow tour groups to travel there by November.

Macao is the only part of China where gambling is legal.

Wynn shares jumped almost 12% Monday, their biggest gain since June.

Last month Wynn reported a net loss and lower revenue in the second quarter, citing the impact of travel restrictions in Macao.