Gaming Revenue Down 23% In February On Las Vegas Strip (LVS, MGM, WYNN)
According to data from the State of Nevada Gaming Control Board, gaming revenue in February on the Las Vegas Strip fell 23.5% for the month to $427.4 million. Statewide gaming revenue fell 18.1% for the month.
Fiscal year-to-date shows gaming revenue for the Las Vegas Srip down 16.6% and down 14.5% Statewide.
Casino stocks are taking a hit today amid this data point. Shares of Las Vegas Sands Corp. (NYSE: LVS) are currently down 8.7% to $4.53, MGM Mirage (NYSE: MGM) stock, which has risen more than 135% in just four days of trading, is down 7.4% to $5.12 today and shares of Wynn Resorts Ltd. (Nasdaq: WYNN) are down 4.4% to $29.83.
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