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%
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