Sector Wrap Up - Casinos Lower: MGM, LVS

Published on Wednesday, 03 October 2012 17:06 Written by Christian Paolinetti

New York, October 3rd (TradersHuddle.com) - Casino stocks ended the session lower by closing -0.23% versus their previous day close. Casino stocks had widespread weakness with 2 out of 7 casino companies trading higher.

MGM Resorts (NYSE:MGM) was the top performer of the casino stocks today closing at $10.61 representing 0.28%. versus the previous trading session. The shares of MGM Resorts, the hospitality and gaming Company owner of properties like the Bellagio and MGM Grand in Las Vegas, NV have defined support at $10.28 and resistance at $11.04.

Las Vegas Sands (NYSE:LVS) was also among the top performers, closed the trading session at $45.88 representing 0% from its previous close. Las Vegas Sands, the owner and operator of casino resorts and convention centers in the U.S., Macau, and Singapore has calculated support and resistance levels at $44.25 and $47.38 respectively.

Casino Stocks worst performers include Isle of Capri Casinos (NASDAQ:ISLE) that closed the trading session at $6.98 or -0.85% from the previous close. Isle of Capri Casinos, the owner and operator of branded casino resorts throughout the U.S., the U.K. and the Bahamas shares have defined support at $6.85 and resistance at $7.27. Also among the worst performers was Pinnacle Entertainment (NYSE:PNK), which closed the trading session at $12.33 representing -0.48% from the previous trading session.

Casino stocks underperformed the broad market S&P 500 Index that closed the trading session at 1450.99, 5.24 points or 0.36% from the previous trading session.