Here’s Why Casino Stocks are Losing Big Now

Melco Crown Entertainment (NASDAQ:MPEL) is just one of the many casino stocks trading lower after a weaker than expected earnings report. To make matters worse, Nevada’s Gaming Control Board issued a negative report stating all Nevada’s casinos suffered a 6% decrease in gambling revenue in Y/Y September. Overall winnings fell less than 1% apart from baccarat, signifying such as card games, slots and roulette are showing strength.

The report by Nevada’s State Gaming Control Board on Wednesday showed casinos statewide won $864 million from gamblers, $53.8 million less than in September 2010.

Here’s how casino stocks are trading on the news:

  • Melco Crown Entertainment Ltd. (NASDAQ:MPEL): The shares recently traded at $9.66, down $1.24, or 11.38%. Its market capitalization is $5.15 billion. They have traded in a 52-week range of $5.55 to $16.15. Volume today was 12,805,178 shares versus a 3-month average volume of 9,504,390 shares. The company’s trailing P/E is 48.79, while trailing earnings are $0.20 per share. About the company: Melco Crown Entertainment. Ltd. develops, owns and operates casino gaming and entertainment resort facilities. Get the most recent company news and stock data here >>
  • Wynn Resorts Ltd. (NASDAQ:WYNN): The shares recently traded at $119.44, down $4.47, or 3.61%. Its market capitalization is $14.83 billion. They have traded in a 52-week range of $99.21 to $172.58. Volume today was 2,688,192 shares versus a 3-month average volume of 3,643,020 shares. The company’s trailing P/E is 27.88, while trailing earnings are $4.28 per share. The company pays a dividend of $2.00 per share for a dividend yield of 1.50%. 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. Get the most recent company news and stock data here >>
  • Las Vegas Sands Corp. (NYSE:LVS): The shares recently traded at $44.88, down $1.38, or 2.98%. Its market capitalization is $32.75 billion. They have traded in a 52-week range of $36.05 to $52.08. Volume today was 11,403,246 shares versus a 3-month average volume of 18,789,300 shares. The company’s trailing P/E is 29.92, while trailing earnings are $1.50 per share. 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 accomodations, while its expo centers host a wide range of entertainment shows, expositions, and other activities. Get the most recent company news and stock data here >>
  • MGM Resorts International (NYSE:MGM): The shares recently traded at $9.81, down $0.22, or 2.19%. Its market capitalization is $4.79 billion. They have traded in a 52-week range of $7.40 to $16.94. Volume today was 16,628,912 shares versus a 3-month average volume of 25,623,800 shares. The company’s trailing P/E is 1.69, while trailing earnings are $5.79 per share. About the company: 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. Get the most recent company news and stock data here >>
  • Boyd Gaming Corp. (NYSE:BYD): The shares recently traded at $6.29, down $0.13, or 2.02%. Its market capitalization is $542.75 million. They have traded in a 52-week range of $4.12 to $12.78. Volume today was 382,934 shares versus a 3-month average volume of 2,058,070 shares. The company’s trailing earnings are $-0.12 per share. About the company: Boyd Gaming Corporation owns and operates several gaming properties throughout the United States. The Company also operates entertainment, restaurants, shopping, and recreational facilities on its properties. Get the most recent company news and stock data here >>

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