Casino shares are striking the jackpot en masse on Wall Street and exchanges that are international the past 12 months. The industry is outpacing the tech world, a surprising reality provided the general cultural adoration of all things technology vs. video gaming’s often status that is vilified.
Steve Wynn’s company is residing as much as their name, as one of three US casino stocks on a winning that is significant as of late.
The Dow Jones US Gambling Index (INDEXDJX: DJUSCA) is up 22.2 percent in 2017, tripling the growth of the Dow Jones Industrial Average and topping the Dow’s technology index’s 21.5 percent increase. The DJUSCA consists of Las Vegas Sands, MGM Resorts, and Wynn Resorts.
Collectively, those three gaming companies are outpacing the technology composite index, which is much larger and consists of over 120 companies. The latter embodies some of the most iconic companies in the world, including Google, Apple, Dell, eBay, Intel, and Oracle.
An investment in Sands, MGM, and Wynn could be worth more than putting an amount that is equivalent technology stocks, showcasing the sizzling hot streak video gaming is enjoying in 2017.
Sands is up 16 percent this year, while MGM has climbed 12 %, and Wynn is soaring up 54 percent.
Nevertheless, it’s well worth noting the casino shares are outperforming technology just since the beginning of 2017 january. Dating back once again to June of Continue reading