Casino stocks drop after shooting

casino stocks

Credits: ballenvegas.com

The lethal shooting on Sunday night that shocked the world had an impact on the US casino stocks and caused drops of as much as 5 per cent.

US.- Las Vegas lived a dark night on Sunday when a man fired at a crowd in the Strip, killing at least 59 people and wounding hundreds. Casinos were also financially hit by the massacre as their stocks have dropped since the attack.

MGM Resorts International owns the casino-hotel from where the shots were fired and had its stock down by over six points by Tuesday. The company informed through Twitter that it had put several of its nearby venues on temporary lock-down and was severely affected by the shooting and stated: “Our thoughts and prayers are with the victims of last night’s tragic events. We’re grateful for the immediate actions of our first responders.”

Wynn Resorts’ stock also fell by 1.2 per cent on Monday morning and Las Vegas Sands had its stock falling 1.8 per cent. However, the latter’s shares were starting to trade higher and recovering from the slump.

The shooting took place just before Global Gaming Expo started and the gaming industry was shocked by the incident. However, attendants were confirmed to be in good health and G2E 2017 succsessfuly started anyway, gathering gaming companies from all over the world.