Casino Operators Falling Fast As Stocks Plummet Again

In an economic time in the United States that is even seeing casino operators being effected, Wall Street continued its fall on Monday. The drop on Monday had some of these casino operators watching their stocks fall to record lows.

Casinos had always been one of the industries that was immune to the economic troubles of the country. Not this time. The economy is hurting all industrie4s this time around, and the casino industry is included.

MGM Mirage saw their stocks fall another sixteen percent. It fell $3.50 to $17.50. That was not the low they saw earlier in the session, but it is still going in the wrong direction.

Las Vegas Sands Corp., another of the casino operators, fell to an all time low for their stocks. They were down to $19.10 on Monday. Penn National had their shares drop over eight percent.

Wynn Resorts had some of the worst news of the day followed by some of the best news of the day for casino operators. They had their stock fall to a two year low of $62, but then recovered back some of the losses they endured.

With a tightening economy, the casinos themselves are feeling the pinch. The addition of casinos in many states and the high fuel costs have hurt an industry that usually is less effected by the economy than other industries.

October 6, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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