Bust: Vegas Casino Revenues Fall
The Nevada Gaming Control Board has released its official report for the month of August, and the numbers were not good for major Las Vegas casino-owning companies like MGM Resorts (NYSE:MGM), Wynn Resorts (NASDAQ:WYNN), and Las Vegas Sands (NYSE:LVS).
The report, which can be found here, shows gaming wins for Las Vegas casinos of $490.94 million for the month, a total that is down 1.2 percent from the same month last year. Across all of Nevada, casino revenue dipped 3.1 percent from the year before.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Investors in the companies listed above, as well as in Penn National Gaming (NASDAQ:PENN), Caesars Entertainment (NASDAQ:CZR), and Boyd Gaming (NYSE:BYD), would be wise to keep an eye on casino revenues in the event this downward trend continues.
Don’t Miss: Which Companies Fear the Fiscal Cliff Most?