Casino stocks were hitting the jackpot en masse on Wall Street and international exchanges over the final 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 company is residing as much as his name, as one of three United States casino shares on a winning that is significant as of late.
The Dow Jones US Gambling Index (INDEXDJX: DJUSCA) is up 22.2 percent in 2017, tripling the growth 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 index that is composite which is much larger and consists of over 120 companies. The latter embodies a number of the many iconic companies into the world, including Google, Apple, Dell, eBay, Intel, and Oracle.
An investment in Sands, MGM, and Wynn could be worth more than putting an amount that is equivalent technology stocks, showcasing the sizzling hot streak gaming is enjoying in 2017.
Sands is up 16 percent this while MGM has climbed 12 percent, and Wynn is soaring up 54 percent year.
However, it’s worth noting the casino shares are outperforming technology simply since the start of January 2017. Dating back to of 2016, the tContinue reading