Casino stocks were trading nearly flat to lower Thursday morning after the
Nevada Gaming Control Board released August revenue data.
What Happened
Gaming licensees reported total win of $912,980,589 in August, which represents a 7.74-percent decrease from the same
month one year ago, the regulatory body said in a Thursday press release.
For the fiscal period of July 1 through Aug. 31, gaming wins have dropped 3.99 percent.
By region, the Las Vegas Strip saw its total gaming win fall 12.4
percent from $545.546 million in August 2017 to $477.918 million in 2018. The Strip saw the second-largest percentage decrease
in gaming win after the Boulder Strip's 16.27-percent decrease.
The Clark County which includes the Strip saw its gaming wins fall 10.16 percent from a year ago to $756.097 million.
Washoe County — home to casinos including Gold Dust and Eldorado Resor — performed the best, posting a 7.37-percent
increase in gaming win.
Stock Reactions
Shares of casino stocks were for the most part lower Thursday morning:
-
Las Vegas Sands Corp. (NYSE: LVS):
near-flat.
-
MGM Resorts International (NYSE: MGM): up
0.22 percent.
-
Caesars Entertainment Corporation (NASDAQ: CZR): up 0.25 percent.
-
Boyd Gaming Corporation (NYSE: BYD): up
0.65 percent.
-
Wynn Resorts, Limited (NASDAQ: WYNN):
down 1.5 percent.
Goldman
Sachs Cashes Out Of MGM Stock, Recommends Wyndham And Las Vegas Sands
'Distinctly
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