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Casinos on Losing Streak: Wynn, Boyd

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 - Get Report) lost 10.9% to end the day at $14.31, Isle of Capri (ISLE - Get Report) declined 5.6% to $8.88 and MGM Mirage (MGM - Get Report) 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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BYD $19.22 3.11%
ISLE $14.83 -0.47%
LVS $46.75 3.54%
MGM $21.67 1.74%
WYNN $94.28 6.77%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

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