The shares of casino operators whittled after the horrific incident in Las Vegas. The deadliest shootout in U.S. history occurred next to the MGM-owned Mandalay Bay casino on the Strip. The recent updates stated that MGM has several of its casinos isolated temporarily.

MGM Resorts International’s shares fell 5.6 percent on Monday. Wynn Resorts’ stock price was down to 1.2 percent and hasn’t yet recovered. Las Vegas Sands shares fell 1.8 percent immediately after the tragedy, but they are now trading slightly higher than they were on Friday.

The shooting induced nearby McCarran International Airport‏ to halt flights for several hours, around 10 p.m. local time on Sunday. Furthermore, officials said that at least 59 people are dead and more than 500 injured after a gunman opened fire at a concert.

Casinos are weathering the immediate effects of the shoot-out while the impact of it on Las Vegas’ tourism will be only known in the long-term. Las Vegas attracts more than 40 million visitors annually.

Dan Wasiolek, an analyst at Morningstar said, “Barring another tragic event in the gaming region the impact to travel and operators in the region could likely prove short-lived and pullbacks like these can be long-term add opportunities.”

For more of the latest poker news, blogs and poker deals, continue reading PokerShots!

Related Posts