Melco Crown Melco Crown Entertainment had their stock drop below $5 a share by the close of the trading day on Friday. It marked a tough week for most US-based casino gaming companies.

Melco stock was up at $5.71 early in the day at the start of the week on Monday. Since that time, however, the stock has slowly dropped by mid-week. On Thursday, the stock rallied, but Friday saw the stock drop to its lowest point since August.

Other gaming companies suffered a similar fate this past week. Third quarter revenue figures were released by several companies, and the results were not good. That caused investors to panic, which in turn, dropped stock prices.

One of those companies with poor third quarter figures was Wynn Resorts. Wynn has been the staple of the gaming industry on the market, but dropped to $54.22 by the end of the week. It was a loss of over $5 a share this week.

MGM Mirage stock declined 4.73% on Friday. It closed the week at $9.27 a share. That is over $2 a share off the starting price for this week. MGM is hoping that their massive CityCenter project in Las Vegas will escalate its stock price in the near future.

Las Vegas Sands actually had a good day on the market to end the week. Sands stock was up 2.24%, closing at $15.09.

This entry was posted on Tuesday, October 27th, 2009 at 10:17 pm and is filed under Online 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.