MGM Resorts - Worst Performing Casino Stock

Published on Thursday, 20 September 2012 17:06 Written by Christian Paolinetti

New York, September 20th (TradersHuddle.com) - Casino stocks ended the session lower by closing -0.83% versus their previous day close. Casino stocks had widespread weakness with 2 out of 7 casino companies trading higher.

Pinnacle Entertainment (NYSE:PNK) was the top performer of the casino stocks today closing at $12.43 representing 1.14%. versus the previous trading session. The shares of Pinnacle Entertainment, the owner and operator of casinos and casinos resorts throughout the U.S. and Argentina have defined support at $10.97 and resistance at $12.28.

Penn National Gaming (NASDAQ:PENN) was also among the top performers, closed the trading session at $41.8 representing 0.22% from its previous close. Penn National Gaming, the owner and operator of casinos in Mississippi, and a riverboat gaming facility in Louisiana has calculated support and resistance levels at $37.03 and $41.65 respectively.

Casino Stocks worst performers include MGM Resorts (NYSE:MGM) that closed the trading session at $10.78 or -3.45% from the previous close. MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV shares have defined support at $9.67 and resistance at $11.78. Also among the worst performers was Las Vegas Sands (NYSE:LVS), which closed the trading session at $45.81 representing -1.86% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1460.26, -0.79 points or -0.05% from the previous trading session.