Las Vegas Sands (LVS) Nose Dives 16% as Rescue Plan Fails to Pass

September 29, 2008 3:15 PM EDT

In the last half hour of trading, shares of casino operator, Las Vegas Sands (NYSE: LVS), have sunk nearly 16% from $39.59 to $33.29 most recently. Las Vegas Sands stock is currently down 12.9%, or about $5.00, from yesterday's close.

After opening today's trading session about 2.5% lower than Friday's close, shares of Las Vegas Sands slowly began climbing despite a DJIA which was down by triple-digits. At its height of the day, the stock was up more than 4% from Friday's close, but as news that the Emergency Economic Stabilization Act would not pass in the US House, shares of Las Vegas Sands began plummeting.

Elsewhere in the sector: Wynn Resorts (Nasdaq: WYNN) down 4.6%, MGM MIRAGE (NYSE: MGM) down 12.5%, Melco Crown Entertainment (Nasdaq: MPEL) down 5.6%.

Las Vegas Sands Corp. and its subsidiaries develop multi use integrated resorts worldwide.

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