Sell-Off in Casino Names Intensifies: LVS Down 16%, MGM Down 12%, WYNN Down 11%
Following news this morning that gaming sales on the Las Vegas strip fell 23% during February, the major casino operators are continuing to sell-off on heavier-than-normal trading volume.
Shares of Sheldon Adelson's Las Vegas Sands (NYSE: LVS) are now down 17% to $4.11, shares of Kirk Kerkorian's MGM MIRAGE (NYSE: MGM) are down 13% to $4.81 and Wynn Resorts (Nasdaq: WYNN) shares have now fallen nearly 12% to $27.53.
On average, these stocks have sold-off an additional 7% since our original report at 10am ET.
More updates to come as news hits the wires.
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