US-Based Gaming Stocks Tumble Thanks To Dubai World Crisis

Posted by admin | Gambling News | Thursday 26 November 2009 4:02 am


MGM Mirage
It certainly ended up being a Black Friday for US-based gaming companies, but for reasons different than just a slow trading day. The troubles of Dubia World sent US casino company stocks tumbling Friday.

MGM Mirage is the company that is tied most closely to Dubai World. MGM and Dubai World are partners in the largest casino resort project in Las Vegas, the CityCenter.

While the project is not in danger of being stopped, MGM investors still backed off on Friday. The stock closed at $10.56, down $.45. That represented a 4.09% drop from the start of the trading day.

Other companies also fell with the fears that a recent resurgence in Macau could be slowed by the Dubai news. Las Vegas Sands and Wynn Resorts both have casino interests in Macau, and their stock dropped 4.24%, and 3.66%, respectively.

Melco Crown Entertainment had a drop of 3.74%, closing the day at $4.12. Boyd Gaming was down to $8.29, a loss of 3.83%, and Pinnacle Entertainment fell 3.65%, to $10.55.

No Comments »

No comments yet.

Leave a comment