The last week saw gambling industry players Penn National Gaming Inc. PENN and Boyd Gaming Corporation BYD announcing buyouts.
Melco Resorts & Entertainment Limited MLCO announced the launch of a luxury hotel brand, NUWA.
Price Performance
The following table shows the price movement of the major gambling stocks in the past week and the last six months:
Company |
Last Week |
Last 6 Months |
WYNN |
1.6% |
24% |
CNTY |
0.4% |
27.6% |
MLCO |
3.6% |
27.6% |
MCRI |
-0.5% |
48.8% |
PENN |
5.1% |
42.7% |
BYD |
1.4% |
40.8% |
PNK |
4.2% |
65.9% |
In the last five trading sessions, share price movement of the major gambling stocks displayed a mixed trend. Penn National Gaming gained the most (up 5.1%), followed by Pinnacle Entertainment (up 4.2%). Melco Resorts, Wynn Resorts WYNN, Century Casinos CNTY and Boyd Gaming recorded a gain of 3.6%, 1.6%, 0.4% and 1.4%, respectively. Monarch Casino & Resort MCRI however lost 0.5%
In the last six months, the price performance of gambling stocks has been impressive. Among the stocks that appreciated the most were Pinnacle Entertainment and Monarch Casino that rallied 65.9% and 48.8%, respectively. Wynn Resorts, Century Casinos, Melco Resorts, Boyd and Penn National Gaming gained 24%, 27.6%, 27.6%, 40.8% and 42.7% respectively in the same time frame.
What’s Next in the Gambling Space?
We note that gambling stocks have oscillated between gains and losses in recent sessions and investors can expect this volatility to continue in the coming days.
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