Casino Stocks Dropping With Another Market Crash Today

The economy is in such a down state in the U.S. that casino operators have to check almost by the minute to see where they stand. Stocks are fluctuating at an alarming rate, and that is leaving people to feel both stress and relief within minutes of each other.

Casino stocks took a turn for the worse with many other stocks today after the House rejected a bailout plan proposed by the government. The plan would have given relief to the Stock Market, but instead, it was once again thrown into chaos.

Failed mortgage debt is at the center of the problems of the market. Once word of the denied bailout plan reached Wall Street, the Dow Jones dropped over 700 points.

MGM Mirage dropped 11.3 percent. They were down to $3.38 a share. Wynn Resorts Ltd. dropped $1.49, and Las Vegas Sands Corp. fell 8.5 percent, down $3.26.

The casino companies have been monitoring Wall Street closely over the past few months. With every bank that has gone under, stocks have dropped, and they are now getting to the point where the government bailout might be the only hope.

Usually, when times are tough economically in the United States, casinos have still thrived. That is not the case this time, however, with many casinos around the country struggling.

September 29, 2008
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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