Jim Chanos shorts Las Vegas Sands, Wynn Resorts amid US-China trade war

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Famed short-seller Jim Chanos is going after American casino operators Las Vegas Sands and Wynn Resorts as the U.S.-China trade war continues.

“One area I’m scratching my head about is the Macau casino guys,” Chanos told CNBC’s Sara Eisen on Thursday. “We’re basically short the U.S. guys … Wynn and Las Vegas Sands, particularly their Hong Kong-listed Asian operations. In our hedge fund, we’re actually long the Chinese operators.”

“Whatever your views are on Macau, the U.S. operators trade at a premium to the Chinese operators. While that has always been the case, I think in light of the trade tensions, that doesn’t make a lot of sense right now,” he said. “At the very least, the U.S. operation should trade at a discount.”

Shares of both companies fell to their lows of the day on Chanos’ comments, aired on CNBC. Las Vegas Sands closed 0.6 percent lower, and Wynn declined 1.2 percent.

2018-12-13 18:53:00

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