MGM Drags Casinos Lower (MGM, WYNN, LVS)

Posted in pre-market 
April 15th, 2010

MGM Mirage (NYSE: MGM) is down this morning after it gave preliminary earnings for a loss of -$0.22 and a securities sale to pay off existing debt.  Shares are down 5.6% at $14.54 on over 500,000 shares.  Last night the news had the stock down 5.9% at $14.50 on over 1.5 million shares before we published.

This will act as a drag on casino stocks most likely…. Wynn Resorts Ltd. (NASDAQ: WYNN) is down 1.5% at $85.10 on about 14,000 shares; Las Vegas Sands Corp. (NYSE: LVS) is down 2.3% at $23.45 on 150,00 shares.
8:51 AM EST.

JON OGG

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