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Casino Stocks: The One Sin Stock You Should Be Betting On
Casino stocks have been more than down on their luck lately. In fact, they’ve been on the ropes more than one of their prizefighting boxers. And it’s no wonder.
The recession has hit consumers hard. And many have cut their spending, doling out their dollars for the necessities: food, shelter, clothing and gasoline – but little else.
To say business has been bad doesn’t really capture the scope of the damage.
- It’s easy to see the effects on casinos – the top dogs in most markets – and we don’t always notice the impact to the rest of the food chain.
- Restaurants…
Las Vegas Sands Shares Soar After Singapore Deals Itself In
Las Vegas Sands Corp. (LVS) shares more than doubled yesterday (Wednesday) after Singapore’s government pledged support for the completion of a local $4 billion casino project.
Las Vegas Sands stock hit a daily high of $10.97, before paring back to close at $8.91 with an 80% gain of $3.96 each.
The Singapore Tourism Board stopped short of pledging financial support for the project, but said it would “facilitate the success” of the project under construction in downtown Singapore.
Story continues below…
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