The U.S. stock market took its worst beating in years Thursday, and casino companies in Las Vegas were not spared the carnage.
Amid a widespread plunge in stock prices over fears of President Donald Trump’s newest tariffs, shares in Wynn Resorts Ltd. fell 10.62 percent Thursday. Caesars Entertainment Inc. shares dropped 9.52 percent, Station Casinos parent Red Rock Resorts Inc. fell 9.43 percent, and MGM Resorts International tumbled 9.27 percent.
Shares in Golden Entertainment Inc. fell 9.1 percent. Las Vegas Sands Corp., which is based in Nevada but operates casinos only in Asia now, dropped 6.74 percent, while Boyd Gaming Corp. slid 6.24 percent.
All told, these casino stocks dropped further than U.S. stock-market gauges overall Thursday as widespread worries about the tariffs’ impact on global economies sent shock waves through financial markets.
