Casino stocks were striking the jackpot en masse on Wall Street and international exchanges over the last year. The industry is outpacing the tech world, a surprising reality provided the general social adoration of all things technology vs. gaming’s sometimes status that is vilified.
Steve Wynn’s business is residing as much as his name, as one of three United States casino stocks on a significant winning streak as of late.
The Dow Jones US Gambling Index (INDEXDJX: DJUSCA) is up 22.2 percent in 2017, tripling the development of the Dow Jones Industrial Average and topping the Dow’s technology index’s 21.5 percent increase. The DJUSCA consists of Las Vegas Sands, MGM Resorts, and Wynn Resorts.
Collectively, those three gaming companies are outpacing the technology composite index, which is much larger and consists of over 120 companies. The latter embodies some of the most iconic companies into the globe, including Google, Apple, Dell, eBay, Intel, and Oracle.
An investment in Sands, MGM, and Wynn would be worth more than putting an amount that is equivalent tech stocks, highlighting the sizzling hot streak video gaming is enjoying in 2017.
Sands is up 16 percent this year, while MGM has climbed 12 %, and Wynn is soaring up 54 %.
Nonetheless, it’s worth noting the casino stocks are outperforming technology just since the commencement of January 2017. Dating back to June of 2016, the tech in Continue reading