This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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) 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) was down 17 cents to $10.01.

Wynn Entertainment (WYNN) was unchanged at $40.60.

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

Penn National Gaming (PENN) 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs