This week’s stock performers: The best and the worst locally
30 November 2012
Biggest gainer Tropicana Entertainment
With negotiations to avert the fiscal cliff having reported ups and downs, the broader stock market rose slightly and stocks of Las Vegas-based companies mostly increased this week from their closing prices on Nov. 23.
The benchmark Standard & Poor's 500 index finished the week up 0.5 percent.
Stocks rising included MGM Resorts International, Las Vegas Sands Corp., Wynn Resorts Ltd., Caesars Entertainment Corp., Boyd Gaming Corp., IGT, NV Energy and Southwest Gas Corp.
The biggest gainer locally was Tropicana Entertainment Inc., investor Carl Icahn's gaming company. Barron's recently reported Icahn might be the only Atlantic City casino investor making money in that market, which is struggling because of regional competition.
Tropicana finished the week up 9.2 percent to $14.20. The company owns casinos in Nevada and around the country including the Tropicana Atlantic City and earlier this month it reported a higher third-quarter profit.
Biggest decliner: SHFL entertainment
Local stocks falling this week from their Nov. 23 closing prices included Full House Resorts Inc., Bally Technologies Inc. and Allegiant Travel Co. Falling the most was casino supplier SHFL entertainment, down 3.8 percent to $13.76. A lack of major news about the company this week suggests some profit-taking may have been responsible for the decline. Besides its online gaming initiatives, SHFL Entertainment is among the companies hoping to cash in on the expansion of casinos in Maryland. The Baltimore Sun this week reported SHFL entertainment has already installed electronic table games at a Maryland casino and is looking for new business there.
Join the Discussion:
- Surging home values in Las Vegas expected to keep their momentum
- Lake Las Vegas, long viewed as a bust, is rebounding
- Cowabummer: The planned Memorial Day opening of Henderson's Cowabunga Bay Water Park is delayed
- What the Firefly outbreak means for the restaurant's future and the alleged victims' pocketbooks
- Myth of the casino maze debunked: Casino companies are starting to encourage customers to head outside
Will online gaming hurt brick-and-mortar casinos?