Casino Stocks Down Almost Ten Percent In Two Days

Casino stocks took an almost five percent hit on Monday, and while that was bad news, it was not as bad as stocks in some other industries. On Tuesday, the casino companies awoke to another drop in stock prices.

Most of the major casino companies had drops of three to five percent on Monday. Tuesday morning, they were down another two or three percent. That is a drop of almost ten percent in less than two days.

MGM Mirage dropped another 3.1 percent to $28.90, a drop of $.93. Wynn Resorts Ltd. dropped $2.17 to $81.50. That was a decline of 2.6 percent. Las Vegas Sands Corp. fell to $34.31, a drop of $1.02 and 2.9 percent.

The stock market took its worst decline in seven years on Monday, and Tuesday had a residual effect. Investors are concerned that the Market may completely collapse.

The government may bail out the latest company that appears headed towards disaster. As of Tuesday morning, all investors were waiting to see what happened to insurer American International Group Inc..

September 16, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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