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 offered the general social adoration of all things technology vs. gaming’s often status that is vilified.
Steve Wynn’s business is residing up to their name, as you of three United States casino stocks on a significant winning streak as of late.
The Dow Jones United States 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 index that is composite which is much larger and consists of over 120 companies. The latter embodies a number of the most iconic companies into the globe, including Google, Apple, Dell, eBay, Intel, and Oracle.
An investment in Sands, MGM, and Wynn could be worth more than putting an equivalent quantity into tech stocks, showcasing the sizzling hot streak video 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 just since the start of January 2017. Dating back again to of 2016, t Read more