Las Vegas casino stocks have experienced a significant decline in their stock prices, signaling an economic downturn [60fff9e2]. The decline in casino stocks is attributed to investor fears of higher interest rates and concerns about inflation [60fff9e2]. Similarly, hotel stocks have also faced challenges, with the Baird/STR Hotel Stock Index falling in September [15f9c344]. Despite the decline, hotel stocks have outperformed broader economic benchmarks [15f9c344]. The decline in hotel stocks is driven by the hotel brands, which were down 2.4% [15f9c344]. However, hotel REITs have seen a 1.5% decline [15f9c344]. Despite the challenges, the hotel stock index is still up 17.5% year-to-date [15f9c344]. The decline in both casino and hotel stocks is indicative of the impact of economic headwinds and uncertainties on the hospitality industry [60fff9e2] [15f9c344].
On August 6, 2024, gambling stocks rebounded after a drop on Monday due to concerns about a US recession [d06a5d75]. The US economy is feared to be heading into a recession, which has led to volatility in the stock market [d06a5d75]. The rally in gambling stocks occurred on August 6, 2024, providing some relief to investors [d06a5d75].