{"id":112233,"date":"2019-08-15T00:30:32","date_gmt":"2019-08-15T07:30:32","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=112233"},"modified":"2019-08-16T13:12:38","modified_gmt":"2019-08-16T20:12:38","slug":"us-gaming-industry-stocks-rattled-amid-recession-fears","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/","title":{"rendered":"US Gaming Industry Stocks Rattled as Economic Recession Fears Send Wall Street Crashing"},"content":{"rendered":"

The US gaming industry wasn’t spared from Wednesday’s Wall Street sell-off on fears that an economic recession is looming.<\/p>\n

\"gaming
The gaming industry lost billions of dollars in stock valuations amid a terrible day on Wall Street. (Image: Richard Drew\/AP)<\/figcaption><\/figure>\n

The Dow Jones Industrial Average plunged 800 points (-3.05 percent), the NASDAQ 242 points (-3.02 percent), and S&P 500 85 points (-2.93 percent). The Wall Street panic was the result of the 10-year Treasury bond briefly falling below the two-year note, which points to investor unease and a vast movement of money moving away from riskier holdings such as stocks into more conservative Treasury notes and bonds.<\/p>\n

Casino companies might operate games of chance, but the odds of their slot machines and table games are always in their favor. But a potentially weakening economy propelled investors to sell stakes in America’s largest gaming stocks.<\/strong><\/p>\n

The Vectors Gaming ETF, a composite of 44 US and international gaming industry stocks, was down 2.77 percent on Wednesday.<\/p>\n

Betting Against House<\/b><\/h2>\n

The losses came just a day after President Donald Trump’s administration announced a delay in new tariffs<\/a> on Chinese imports. That fueled a Wall Street rally on Tuesday, but those gains were quickly lost.<\/p>\n

\n

Wednesday Casino Stock Losses<\/strong><\/p>\n

Las Vegas Sands -3.41<\/p>\n

MGM Resorts -3.88<\/p>\n

Wynn Resorts -4.22<\/p>\n

Caesars Ent. -1.21<\/p>\n

Boyd Gaming -4.99<\/p>\n

Penn National -6.37<\/p>\n

Eldorado Resorts -2.71<\/p>\n

Red Rock Resorts -4.45<\/p>\n<\/div>\n

MGM Growth Properties and VICI Properties, the respective real estate investment trusts of MGM and Caesars, saw their shares decline 1.88 and 2.82 percent.<\/p>\n

The biggest gaming industry losers on Wednesday were equipment manufacturers. IGT dropped nearly 10 percent, and Scientific Games lost nine percent.<\/p>\n

The trade war tensions between the US and China will continue to threaten global economies<\/a> until resolved. Despite the down day, Trump tweeted a few hours ago, “Unlike others, our economy is strong!” VP Mike Pence added, “The economy is growing and jobs are soaring.”<\/p>\n

Political Bettors Unconvinced<\/b><\/h2>\n

Janet Yellen, the former chair of the Federal Reserve who served during both the Obama and Trump administrations, said Wednesday that a recession is unlikely.<\/p>\n

\n

Historically, it’s [Treasury bond curve] been a pretty good signal of recession, and I think that’s why the markets pay attention to it, but I would really urge on this occasion it may be a less good signal,” Yellen told Fox Business<\/i>. “And the reason for that is that there are a number of factors other than market’s expectations about the future path of interest rates that are pushing down long-term yields.”<\/p>\n<\/blockquote>\n

Political bettors at PredictIt.org agree. They weren’t overly spooked on the Wall Street sell-off.<\/p>\n

The market asking, “Will there be a recession in the US by year-end 2019?” saw “Yes” shares climb four cents, but that only brings them to 12 cents. PredictIt also asks, “Will there be a recession in Trump’s first term?” Shares of “Yes” increased by three cents, bringing them to 39 cents.<\/p>\n

PredictIt rules state that for a recession to be declared, a negative annual growth rate in real gross domestic product must be confirmed in two consecutive quarters by the US Bureau of Economic Analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The US gaming industry wasn’t spared from Wednesday’s Wall Street sell-off on fears that an economic recession is looming. The Dow Jones Industrial Average plunged 800 points (-3.05 percent), the NASDAQ 242 points (-3.02 percent), and S&P 500 85 points (-2.93 percent). The Wall Street panic was the result of the 10-year Treasury bond briefly […]<\/p>\n","protected":false},"author":25,"featured_media":112237,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\nUS Gaming Industry Stocks Rattled Amid Recession Fears<\/title>\n<meta name=\"description\" content=\"The US gaming industry wasn't spared from Wednesday's Wall Street plummet, as stocks of casino operators and gaming manufacturers lost much value.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Gaming Industry Stocks Rattled Amid Recession Fears\" \/>\n<meta property=\"og:description\" content=\"The US gaming industry wasn't spared from Wednesday's Wall Street plummet, as stocks of casino operators and gaming manufacturers lost much value.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-15T07:30:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-16T20:12:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/b3f16cdd-a957-48e9-bf01-1e8b81d196d3-1000.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/\",\"url\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/\",\"name\":\"US Gaming Industry Stocks Rattled Amid Recession Fears\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/b3f16cdd-a957-48e9-bf01-1e8b81d196d3-1000.jpg\",\"datePublished\":\"2019-08-15T07:30:32+00:00\",\"dateModified\":\"2019-08-16T20:12:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"The US gaming industry wasn't spared from Wednesday's Wall Street plummet, as stocks of casino operators and gaming manufacturers lost much value.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/us-gaming-industry-stocks-rattled-amid-recession-fears\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/b3f16cdd-a957-48e9-bf01-1e8b81d196d3-1000.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/b3f16cdd-a957-48e9-bf01-1e8b81d196d3-1000.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The gaming industry lost billions of dollars in stock valuations amid a terrible day on Wall Street. 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