Casino Stocks Are Dealt a Bad Hand

Casino stocks are trading sharply lower today on concerns that China’s economy is slowing.  China’s two “special administrative regions,” Macau and Hong Kong, are home to large numbers of wealthy Chinese who frequent Macau’s casinos

Companies affected from concerns about a slowdown in China’s economy include Wynn Resorts (NASDAQ:WYNN), Las Vegas Sands (NYSE:LVS) and Melco Crown Entertainment (NASDAQ:MPEL).  MGM Resorts International (NYSE:MGM), which has less exposure to Macau, also declined, but by a smaller amount.

Following is some information on these companies’ stock price performance.

  • Wynn Resorts (NASDAQ:WYNN): The shares recently traded at $126.57, down $8.95, or 6.61%, on the day.  The shares have traded in a 52-week range of $85.72 to $172.58 and its market capitalization is $15.83 billion.  About the company: Wynn Resorts Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada and in Macau, China. The resorts features guest rooms and suits, restaurants, golf courses, and on-site luxury automotive dealerships.
  • Las Vegas Sands (NYSE:LVS): The shares recently traded at $41.91, down $1.75, or 4.01%, on the day.  The shares have traded in a 52-week range of $34.12 to $55.47 and its market capitalization is $30.6 billion.  About the company: Las Vegas Sands Corp. owns and operates casino resorts and convention centers. The Company operates in United States, Macau and Singapore. Las Vegas Sand Corp’s casino’s offer a wide range of gaming activities and entertainment as well as overnight accommodations, while its expo centers host a wide range of entertainment shows, expositions, and other activities.
  • Melco Crown Entertainment (NASDAQ:MPEL): The shares recently traded at $9.37, down $0.56, or 5.64%, on the day.  The shares have traded in a 52-week range of $5.04 to $16.15 and its market capitalization is $4.99 billion.  About the company:  Melco Crown Entertainment. Ltd. develops, owns and operates casino gaming and entertainment resort facilities.
  • MGM Resorts International (NYSE:MGM): The shares recently traded at $10.12, down $0.15, or 1.46%, on the day.  The shares have traded in a 52-week range of $9.01 to $16.94 and its market capitalization is $4.95 billion.  MGM Resorts International operates gaming, hospitality and entertainment resorts. The Company owns properties in Nevada, Mississippi and Michigan in the United States; and owns interests in properties in Nevada and Illinois in the United States, and Macau. MGM Resorts also offers hospitality management services for casino and non-casino properties around the world.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>

More from The Cheat Sheet