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Casino operators fall as House rejects bailout



By AP
29 September 2008 @ 02:52 pm EST

NEW YORK - Shares of casino operators slid Monday along with the broader markets as the House rejected the government's $700 billion financial bailout package.

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Quotes
LVS 3.23 -0.67
WYNN 32.02 0.77
MGM 9.36 0.57
TRMP 0.27 -0.05
BYD 3.29 0.27
PENN 15.12 0.38
PNK 3.11 0.29
ISLE 2.86 0.49

SYMBOL LOOKUP

In late afternoon trading the Dow Jones industrials plunged as much as 705 points as investors worried the financial system would keep sinking under the weight of failed mortgage debt.

The Dow did manage to regain some ground before falling backing again, trading down 454.95, or 4.08 percent, to 10,688.18.

Lawmakers' voted down a plan that was different from what the Bush administration had originally proposed. The package included restrictions allowing Congress to limit how much money goes out the door at once. It also included caps on pay packages of top executives.

Among casino companies, shares of Las Vegas Sands Corp. shed $3.26, or 8.5 percent, to $34.91. MGM Mirage's stock tumbled $3.38, or 11.3 percent, to $26.63, while Wynn Resorts Ltd. fell $1.49 to $83.48.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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