Las Vegas Sands Stock Closes Week On A High
Las Vegas Sands It was an impressive week for US casino company stocks. After what had been a turbulent couple of months, the companies finally put together a full week of positive gains for their stock prices.
Las Vegas Sands led the way on Friday with a stock price that rose 7.19%. The stock closed the week at $10.88, and had a gain of $.73 Friday. For the week, the price of the stock was up over $1.50 a share.
Pinnacle Entertainment, which had a bumpy Wednesday, finished the week with two strong days. On Friday, Pinnacle stock was up to $10.60. It was a gain of 10.07%, or $.97. The low for the week was $9.05.
“Clearly the news that came out of Macau made investors more comfortable with buying casino stock,” said observer David Jenkins, “it may not continue to rise, but at least for one week the US casino companies can take a deep breath and relax.
Other major casino companies in the US also had big gains on Friday. For MGM Mirage, the week ended with a positive movement of $.47, or 6.47%. MGM stock closed at $7.73.
Wynn Resorts stock was up $2.62, and while that was the biggest monetary jump of any of the stocks, it only represented a 5.87% change. Wynn closed at $47.29, easily the highest of any US based casino company.
This entry was posted on Thursday, July 23rd, 2009 at 3:24 pm and is filed under Casino News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
