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TheStreet Open House

Casinos on Losing Streak: Wynn, Boyd

Stocks in this article: BYDWYNN

Excluding one-time items, Boyd actually earned 9 cents a share, a penny shy of analysts' estimates.

Revenue slipped 6.6% to $398.2 million from $426.5 million last year.

Privately-held Harrah's Entertainment swung to a third-quarter loss of more than $1 billion and recorded a $1.33 billion drop in the value of its assets.

Harrah's is the largest casino operator in the world by revenue.

Wynn plunged 11% to close at $56.13 and Boyd plummeted 17.8% to $8.78. The results are also sending shares down in the rest of the sector, as Las Vegas Sands (LVS) lost 10.9% to end the day at $14.31, Isle of Capri (ISLE) declined 5.6% to $8.88 and MGM Mirage (MGM) tanked 12.5% to $9.63.

Las Vegas Sands is set to report its quarterly results on Oct. 29.

-- Reported by Jeanine Poggi in New York

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