Shares of casino companies traded lower with the broader market Tuesday, and Monday's big gainer, MGM Mirage ( MGM), was downgraded by Janney Montgomery Scott.

The downgrade was from neutral to sell. Also, a report from the Nevada Gaming Control Board said that Nevada casinos recorded $830.9 million in revenue in February, an 18.1% decline from a year earlier. It also was the 14th consecutive month that Nevada gaming revenue declined.

The GCB report said that Las Vegas Strip gaming revenue was down 23.5% in February, while resorts on Lake Tahoe's south shore decreased 26.8%.

Casino revenues have been pounded by the economic downturn as consumers retrench. Atlantic City's casinos had their biggest revenue drop in 30 years -- 19.2% -- in February, according to the New Jersey Casino Control Commission.

MGM Mirage, which rose 19% Monday on news that it was selling two properties to raise cash, gave it all back, closing down 19.5%, or $1.08 to $4.45.

Las Vegas Sands ( LVS) was off $1 to $3.91, or more than 20% on volume of more than 72 million shares -- twice its average daily volume.

Boyd Gaming ( BYD) was down 12% to $4.95.

Melco Crown Entertainment ( MPEL) was lower by 8% to $4.15.

Wynn Resorts ( WYNN) was down 13.5.% to $26.98.

Penn National Gaming ( PENN) was lower 2.6% to $25.72.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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