You could be taking a big gamble if you resolve to invest in gambling stocks in today's session, as most stocks in the sector are deep in the red. This is despite the broader market trading notably higher for much of the session.
Gaming stocks have been rallying since the beginning of September after it was reported that Macau, a Chinese casino gambling paradise, reported a 1.1 percent increase in revenues in August, the first increase in over two years.
Today's downward move can be partly attributed to bargain hunting, brought about by recent weakness and fears of a Fed rate hike ahead of Wednesday's FOMC decision.
However, there were exceptions to the downward move, with Isle of Capri rallying over 30 percent after it announced a deal to be bought by Eldorado Resorts for $1.7 billion. With the volatility in the broader market and the sector, are you ready to place big bets?
- Penn National Gaming, Inc. PENN – Down 2.02 percent at $13.08
- Las Vegas Sands Corp. LVS – Down 1.60 percent at $57.37
- Wynn Resorts, Limited WYNN – Down 3.87 percent at $104.37
- MGM Resorts International MGM - Down 1.69 percent at $25.01
- Isle of Capri Casinos ISLE – Up 30% percent at $22.03
- Monarch Casino & Resort, Inc. MCRI – Up 4 percent at $23.84
- Boyd Gaming Corporation BYD – Up 1 percent at $18.68
- Eldorado Resorts, Inc. ERI – Down 2 percent at $13.93
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