Casino Stocks Catch a Bid as Airport Traffic Improves (LVS) (MGM) (WYNN)
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Las Vegas gaming stocks are showing a little life Wednesday afternoon following reports of an increase in traffic at the main Vegas airport, McCarran International.
According to the airport, arriving and departing passengers increased 5.1 percent from 3.48 million to 3.65 million in May. The number was an increase from 3.10 million in April 2011.
The increase offsets a 2.9 percent drop from March to April.
Year-to-date traffic is up 3.2 percent to 15.14 million through May.
Las Vegas Sands (NYSE: LVS) is up 1.6 percent, MGM Resorts (NYSE: MGM) is 1.2 percent stronger, Wynn (Nasdaq: WYNN) has cracked into positive territory, up just 0.1 percent, and Boyd Gaming (NYSE: BYD) is 2.8 percent better.
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According to the airport, arriving and departing passengers increased 5.1 percent from 3.48 million to 3.65 million in May. The number was an increase from 3.10 million in April 2011.
The increase offsets a 2.9 percent drop from March to April.
Year-to-date traffic is up 3.2 percent to 15.14 million through May.
Las Vegas Sands (NYSE: LVS) is up 1.6 percent, MGM Resorts (NYSE: MGM) is 1.2 percent stronger, Wynn (Nasdaq: WYNN) has cracked into positive territory, up just 0.1 percent, and Boyd Gaming (NYSE: BYD) is 2.8 percent better.
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Vegas is getting busy!
ralph Petrillo on Jun 22, 2011 01:51 PMMark as Spam | Reply to this comment
Just got back and things are definitely picking up.