Casino Stocks See Slight Drop Following Gambling Data

Casino stocks were trading lower after shooting higher on Nevada and Las Vegas Strip gambling sales.

Gambling sales were down 0.27 percent month-over-month in April for the state of Nevada. The Las Vegas Strip, on the other hand, far outperformed the state with 3.19 percent month-over-month sales growth to $462.9 million.

Downtown Las Vegas had an especially rough April; gambling revenues fell 2.55 percent.

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Year-to-date, gambling sales are up 1.45 percent for the state, 2.66 percent for the Las Vegas Strip and 0.75 percent for downtown Las Vegas.

Through May 27, Nevada has collected $47,894,166 in percentage fees for the month. This figure is up 1.43 percent from the previous year.

Las Vegas Sands (NYSE: LVS) is down 0.08 percent to $75.89.

MGM (NYSE: MGM) was down 0.86 percent to $25.40, but has since bounced back to $25.78 (up 0.59 percent).

Wynn Resorts (NASDAQ: WYNN) was down 0.02 percent to $215.61, but is now trading at $217.86 (up 1.02 percent).