Melco Resorts & Entertainment Stock Gains 30% As Macau To Allow Tour Groups

Shares of Melco Resorts & Entertainment Limited (MLCO) are gaining over 30% on Monday morning. U.S.-listed casino stocks rose driven by the news that Macau officials will reopen tour groups from China as soon as November.

MLCO is currently trading at $7.04, up $1.74 or 32.83%, on the Nasdaq, on a volume of 12.4 million shares, above average volume of 3.5 million. The stock opened its trading at $5.99 after closing Friday's trading at $5.30. The stock has traded between $4.06 and $12.40 in the past 52-week period.

Shares of other casino operators including Las Vegas Sands Corp. (LVS), Wynn Resorts Ltd. (WYNN), MGM Resorts International (MGM) and Caesars Entertainment Inc. (CZR) also rallied on Monday.

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