Why Wynn, MGM Resorts Are Trading Higher Today

The global pandemic has been devastating to casino stocks in 2020, but optimism surrounding a COVID-19 vaccine has lifted a number of casino stocks on Thursday.

Casino shares are trading higher potentially amid the beginning of vaccine rollouts, which could help casinos and other hotel and leisure companies regain demand.

MGM Resorts International MGM is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.

MGM Resorts International shares were trading up 3.31% at $30.92. The stock has a 52-week high of $34.64 and a 52-week low of $5.90.

Wynn Resorts WYNN operates luxury casinos and resorts. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas.

Wynn Resorts shares were trading up 1.54% at $112.88. The stock has a 52-week high of $153.41 and a 52-week low of $35.84.