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Stock prices tumble for Vegas casinos

April 18, 2008

Tuesday was a bad day for the major Las Vegas casinos, as many of their stock prices took big hits.

The stock losses came a day after MGM Mirage said it was going to be laying off more than 400 workers.

According to a story at majorwager.com, printed in the Las Vegas Review-Journal:

Shares of MGM Mirage, traded on the New York Stock Exchange, closed at $49.58, down $2.24, or 4.32 percent. MGM Mirage was trading at $100.50 in October. Other casino operators also fell in value during trading Tuesday.

Shares of Las Vegas Sands Corp. fell $4.97 to close at $69.05 on the New York Stock Exchange, off 6.71 percent. In October, Las Vegas Sands hit a 52-week high of $148.76. Shares of Wynn Resorts Ltd., traded on the Nasdaq National Market, fell $2.63 to close at $98.06, down 2.61 percent. Wynn reached a high of $176.13 in October.

Whole thing here.

Revenues have been down in the last quarter across the Las Vegas Strip.

news.parttimepoker.com

Written by admin · Filed Under Online Poker News 

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