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Nevada Gaming Revenue Down 14%

Updated from 1:23 PM EDT

Casino stocks were trading mixed on Friday after a report showing that Nevada gaming revenue declined 14% in April.

The state Gaming Control Board said Friday that the "gaming win" tally of $859,000 in April was down from $1 billion a year earlier. It follows a decline of 11.6% in year-to-year comparisons in March, and was the 16th straight monthly drop.

The report says the state collected about $52 million in taxes in May based on the April figure. That was down 5.9% from a year earlier.

Las Vegas Strip revenue was $441.3 million in April, down 15.8% compared with $524.1 million a year ago.

Among casino stocks, MGM Mirage (MGM - Get Report) lost 1 cent to close at $7.52. MGM said Friday that it was seeking consent from holders of its senior secured notes due 2013 for a proposed amendment related to its Treasure Island hotel and casino sale. The amendment would ensure that the non-collateral asset sale covenant would not apply to the Treasure Island sale. It would also structure the convenant so that it is similar to another covenant for senior secured notes due in 2014 and 2017.

Elsewhere, Las Vegas Sands (LVS - Get Report) was down 17 cents to $10.01.

Wynn Entertainment (WYNN - Get Report) was unchanged at $40.60.

Boyd Gaming (BYD - Get Report) was down 2.6% to $9.63.

Penn National Gaming (PENN - Get Report) was off 15 cents to $32.10. The Baltimore City Council moved a step closer toward legalizing slot machines Thursday night when two committees voted to change the city's zoning code to allow video lottery terminals to be built south of M&T Bank Stadium, Balitmore Business Journal reported. Penn National Gaming says it may seek permission to build a slots parlor at the Laurel Park racetruck in Anne Arundel County if a proposal by Cordish Co. doesn't pan out, the Baltimore Business Journal also reported.
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ASCA $0.00 0.00%
BYD $20.22 0.00%
MPEL $16.29 0.00%
LVS $44.82 0.00%
MGM $22.92 0.00%


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