RRR - Casino stocks slump as higher gas prices clip freewheeling optimism

U.S. casino stocks are underperforming on the day as the rise in gas prices has cut into the theme that consumer discretionary spending is set to boom into the summer and beyond. Notable decliners today include Golden Entertainment ([[GDEN]] -11.1%), Penn National Gaming ([[PENN]] -8.5%), Caesars Entertainment ([[CZR]] -9.0%), Bally's ([[BALY]] -8.2%), Boyd Gaming ([[BYD]] -8.3%), Full House Resorts ([[FLL]] -8.4%) and Red Rock Resorts ([[RRR]] -7.5%). The day started off brightly for the sector when MGM Resorts ([[MGM]] -4.2%) announced that it was opening up gaming floors in Las Vegas to 100% occupancy.. Outside the brick-and-mortar world, DraftKings ([[DKNG]] -4.2%) is also having a rough session even after some Wall Street defenses.

For further details see:

Casino stocks slump as higher gas prices clip freewheeling optimism