U.S.-China Trade War Escalation Hits Casino Stocks

^{Pictured: Donald Trump} 

The latest round of tariff hikes by U.S. President Donald Trump on Chinese imports — and Beijing’s swift retaliation — has rattled gaming companies operating in Asia. Gambling Insider reports that the deepening trade war has triggered a drop in stock prices for casino operators in Singapore and Macau, markets closely tied to China’s economy.

Galaxy Entertainment Group took one of the hardest hits, with its stock plunging 12.4% to $3.85.

Melco Resorts & Entertainment shares dropped 9.8% to $4.80, while Las Vegas Sands, which owns Sands China in Macau, saw an 8.4% decline to $33.37.

Genting Singapore’s stock slid 7.5% to $0.51. Wynn Resorts, the parent company of Wynn Macau, fell 3.8% to $70.09, and MGM Resorts International, which owns MGM China Holdings, recorded a 3.7% drop to $26.86.

Trump’s aggressive tariff policy also added pressure on U.S.-based casino operators. Last week, Caesars Entertainment shares hit their lowest point since May 2020, when the industry was still reeling from the COVID-19 pandemic’s impact.

The market drop followed a White House announcement that the U.S. will impose a 10% tariff on goods from most countries starting April 5, with even steeper rates for select nations kicking in on April 9. The tariff list spans 184 countries and territories, as well as the European Union.

As a reminder: Trump’s past remarks on slowing U.S. economic growth have already triggered sell-offs in gaming stocks.