Monday, August 24, 2015

Las Vegas Stocks Fall in Global Selloff

In what has been dubbed on Twitter as Black Monday - stocks were down in a big way today as China fears caused a global selloff. The Dow, NASDAQ, and S&P 500 all fell by more than 3.5% on the day.

The big Las Vegas stocks were hard hit as they rely on the China economy in their Macau operations. Wynn Resorts fell almost 6.5%, MGM Resorts International was down 5% and Las Vegas Sands was off by 4%.

Even the regional gaming companies without China operations were affected by the selloff. Boyd Gaming was down by 3.3% and Penn National fell by just over 2.5%.

Caesars Entertainment bucked the trend however as they were up almost 12% on favorable bankruptcy news and good Atlantic City numbers. The fact that Caesars doesn't have any Macau operations also probably helped on this particular day.

CompanySymbolOpenCloseChange
CaesarsCZR8.028.98+11.97%
PennPENN17.6917.20-2.55%
BoydBYD16.0315.50-3.31%
SandsLVS47.9946.05-4.04%
MGMMGM20.5919.54-5.10%
WynnWYNN81.7776.48-6.47%%