Las Vegas operators see worst share slide since COVID following Trump’s tariffs
Casino shares in the United States have suffered their worst decline since the onset of COVID-19 following the confirmation of President Donald Trump’s tariff war.
Most operators saw their shareprice tumble in the region of ten per cent. Wynn Resorts dropped by 10.62 per cent, Caesars Entertainment fell by 9.52 per cent, Red Rock Resorts by 9.43 per cent, and MGM Resorts by 9.27 per cent.
Continuing the slide, Golden Entertainment declined by 9.1 per cent, Las Vegas Sands by 6.74 per cent, and Boyd Gaming by 6.24 per cent.
Each of the three major US stock markets experienced their worst declines since June 202 with Nasdaq down six per cent, S&P 500 down 4.8 per cent and the Dow down 3.9 per cent. Outside of the gambling sector Apple and Nvidia, two of the US’s most valuable companies lost a combined $470bn by midday. Overall, US investors lost nearly $2tn in their valuation.
Trump said to reporters: The markets are going to boom. I think it’s going very well. We are going to start being smart and we’re going to start being very wealthy again.”
