Gambling Stocks Tank As Vegas Gaming Revenue Gets Slammed

Las Vegas

The Las Vegas gaming industry recovery that analysts have been boasting about just had a setback as the biggest casino operators all fell more than 3% today on worse-than-expected gambling revenue for January.

Revenue fell 2.5% in January to $482.7 million marking the third straight monthly decline and a drop from $495 million in revenue in the prior year.

The disappointing results even prompted JPMorgan to move the stocks to a hold.

The Las Vegas stocks that fell today are:

  • Las Vegas Sands down 5.19%
  • Wynn Resorts down 4.08%
  • MGM Resorts down 4.44%
  • Boyd Gaming down 3.74%

Check out the six companies in Macau that have created a bigger gambling hub than Vegas >

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