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Gaming Stocks Get Brief Thrill From Nevada Monthly Winnings Report

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Nevada gaming stocks saw a short-lived spike Friday on news that June winnings in the state rose more than 14 percent, according to its gambling regulators.

Best in show was the Las Vegas Strip, where the raw number rose 22.45 percent to a whopping $532.4 million. The city's more dowdy downtown increased only 11.89 percent to $41.2 million.

Players in up-and-coming North Las Vegas picked up $23.9 million, an improvement of 22.69 percent from last year.

Elsewhere in Nevada, things were less encouraging: Reno winnings fell three percent to $47.7 million. Sparks was down 0.7 percent to $9.5 million and Mesquite tumbled 6.5 percent to $7.6 million.

Although shares generally spiked briefly on the news, by mid-morning the thrill was gone.

Boyd Gaming (NYSE: BYD) was up 1.8 percent to $10.94; MGM Resorts International (NYSE: MGM) was up 0.85 percent to $26.20.

Las Vegas Sands (NYSE: LVS) was largely unchanged at $73.04; Wynn Resorts (NASDAQ: WYNN) was down slightly after an earlier spike and was trading recently at $204.00 per share.

Posted-In: News Econ #s Intraday Update


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