Melco Resorts And Entertainment (NASDAQ:MLCO) shares are trading lower amid continued weakness in casino names following recent reports of increased government oversight of casinos in the Macau region.
Recent reports indicate the government of Macau was planning to hold a review of the gaming sector. Growing COVID-19 concerns also pushed Chinese officials to roll out measures to curb the spread of ths virus.
Melco Resorts is one of only six companies with a licence to operate casinos in Macao, the only region in China with legalized gambling.