Casino Shares Get a Haircut: Boyd Gaming Down Nearly 9 Percent

Submitted by Aaron Goldstein on

Written by :

Aaron Goldstein

Published on :

Wall Street had its single worst day of the year today (June 20, 2013) with the Dow down 350 points at closing.

The gambling sector overall saw similar declines with Boyd Gaming down nearly 9 percent on the day closing at $10.84.

Las Vegas Sands fell 4.6 percent to close at $53.88.

Lazard analysts raised the price target of casino resort operators Las Vegas Sands Corp.  (LVS) and Wynn Resorts, Limited (WYNN) on Thursday based on overall performance in Macau.

The analysts rate both stocks as “Buy” and now see shares of LVS reaching $69, up from the previous target of $66. This price target suggests a 17% upside to Wednesday’s closing price of $56.48.

Wynn shares are now expected to reach $155, up from the previous target of $145. This price target suggests a 12% upside to Wednesday’s closing price of $137.86.

Wynn was down 4.1 percent on the day. 

Why Join Ace Sportsbook - 30 percent cash deposit bonus with 3 x rollover, no fees on withdrawals, credit cards accepted, mobile betting available, pay per head available if you would like to place bets for multiple individuals.  Learn More About Ace Sportsbook Here

Why Join Ace Sportsbook - 30 percent cash deposit bonus with 3 x rollover, no fees on withdrawals, credit cards accepted, mobile betting available, pay per head available if you would like to place bets for multiple individuals.  Learn More About Ace Sportsbook Here

MGM and Melco Crown Entertainment were each down around 6 percent on the day.

Two casino stocks were up including Empire Resorts (9.32 percent) and Century Casinos at 3.3 percent.

Elsewhere, games maker Zynga was down 1.21 percent to 2.86.

Bwin.Party (BPTY) was down 1.30 percent on the London Stock Exchange with a share price of 116.70.

888 Holdings was up 1.22 percent with a share price of 149.80.

- Aaron Goldstein, Gambling911.com

Related Content

ACR Poker Launches Investigation Into Video Circulating on Net: 'RTA Has No Place on ACR Poker'

ACR Poker Says TrenirusGTO Strictly Forbidden After Video Surfaces : 'RTA Has No Place on ACR Poker'

ACR Poker on Thursday issued a statement in regard to a video circulating across the internet showing a controversial poker software product called TrenirusGTO being used alongside their online poker client.... They later found the account in question.
Las Vegas Athletics Enter Into Multi-Year Partnership With Circa Resort & Casino and Circa Sports

Las Vegas Athletics Enter Into Multi-Year Partnership With Circa Resort & Casino and Circa Sports

Circa becomes the club's first Founding Partner, marking a major milestone as the A’s establish their presence in Las Vegas and build toward the opening of its new ballpark in 2028.
Bayern Star Alphonso Davies' Family the Target of Bizarre AI Casino Scam

Bayern Star Alphonso Davies' Family the Target of Bizarre AI Casino Scam

The star is seen promoting the online casino brand Oxibet as his father is depicted being placed under arrest.
Sydney Sweeney Loses 200,000 Instagram Followers Following Controversial Nude NoVig Ad

Sydney Sweeney Loses 200,000 Instagram Followers Following Controversial Nude NoVig Ad

Sweeney still holds 25.8 million followers. Three days after the ad was released, Sweeney gained 50,000 followers on Instagram. Yet, she lost 136,848 by Sunday and another 68,000 Monday.