Wynn Casino Stocks Rebound After Record Low Tuesday

Casino stocks are definitely not the strongest in the market these days. While many industries are being hit hard by the economy, the casino industry is among those that is getting hit the hardest.

That is an ironic twist for an industry that has been mostly immune to the countries economic problems of the past. The one thing that was steady was that people were still spending their money gambling.

That is not the case this time around and that is being exemplified in the stock figures for many casino companies. Wynn watched its stock drop to a record low for the past two years on Tuesday. It fell all the way to $56.48 a share.

On Wednesday, the stock began to regain some momentum and was back up to $62.71. That figure is up 4.5 percent, or $2.71. The move back up is a little relief for owners of the Wynn stock. Other companies did not fare quite as well.

Pinnacle Entertainment fell2.7 percent, or thirteen cents. That is a minimal drop compared to what has been happening for the past few weeks. Ameristar stock was also down on Wednesday. It fell 25 cents.

October 8, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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