U.S. Casino Stocks Fall Following Mass Shooting In Las Vegas!

MGM grand

Shares in MGM Resorts International were trading sharply lower Monday in the wake of a mass shooting at the company’s Mandalay Bay property in Las Vegas.

MGM’s stock MGM, -4.69%  dropped 2.9% in morning action, while rival casino operators Wynn Resorts Ltd. WYNN, -1.76% and Las Vegas Sands Corp.LVS, +0.16%  fell 0.4% and 1%, respectively.

The selling comes after a gunman opened fire on a crowd at an outdoor country-music concert in Las Vegas on Sunday night, leaving at least 50 people dead and more than 400 injured.

The shots came from the 32nd floor of MGM’s Mandalay Bay Resort and Casino on the Vegas Strip, said multiple media reports citing authorities. Police said the suspected shooter is dead after firing on the concert grounds below.

“Our thoughts & prayers are with the victims of last night’s tragic events,” MGM Resorts said in a tweet. “We’re grateful for the immediate actions of our first responders.”

(Reuters) – Shares of Las Vegas casino operators fell as much as 5 percent in premarket trading on Monday after a gunman killed at least 50 people and wounded 200 others in a mass shooting on the Las Vegas strip.

MGM Resorts International <MGM.N>, which owns the Mandalay Bay hotel from where the gunman opened fire, was down 5 percent. Melco Resorts & Entertainment Ltd <MLCO.O>, Wynn Resorts Ltd <WYNN.O> and Las Vegas Sands Corp <LVS.N> each fell 1 to 2 percent.

In a statement on Twitter, MGM Resorts said it had locked down hotels in the vicinity at the request of law enforcement officers. It was unclear if other casinos were also put on lockdown following the incident.

“Our thoughts and prayers are with the victims of last night’s tragic events. We’re grateful for the immediate actions of our first responders,” MGM Resorts said in the tweet.

Las Vegas’s casinos, nightclubs and shopping draw some 3.5 million visitors from around the world each year and the area was packed with visitors when the shooting broke out shortly after 10 p.m. local time (0400 GMT).