Casino Stocks Plunge as Trump’s Tariff Move Shakes Wall Street

The U.S. stock market experienced its steepest one-day loss in years on Thursday, and Las Vegas casino companies were caught in the turmoil. Following President Donald Trump’s unexpected announcement of new tariffs, investor unease triggered widespread selloffs, pushing casino stocks deeper into the red.

Shares of Wynn Resorts Ltd. led the sector’s collapse, plummeting by 10.62 percent. Caesars Entertainment Inc. followed with a 9.52 percent fall, while Red Rock Resorts Inc., the parent company of Station Casinos, saw its stock decline by 9.43 percent. MGM Resorts International also suffered, with shares sliding 9.27 percent.

Golden Entertainment Inc. was hit with a 9.1 percent decrease. Las Vegas Sands Corp., which is headquartered in Nevada but currently operates casinos solely in Asia, dropped by 6.74 percent. Meanwhile, Boyd Gaming Corp. experienced a 6.24 percent dip.

These casino stocks collectively underperformed major U.S. market indices. The S&P 500 dropped 4.84 percent, its most significant single-day fall since the early days of the pandemic in 2020. The Dow Jones Industrial Average declined by 3.98 percent, and the Nasdaq Composite recorded a steep 5.97 percent fall.

The market-wide decline highlighted growing fears about the impact of tariffs on global economies. Other industries suffered heavy losses as well, with Best Buy’s shares plunging 17.84 percent due to concerns over global supply chains, and United Airlines stock dropping 15.61 percent as worries mounted over the potential slowdown in travel.

Las Vegas-based Allegiant Travel Co., which operates budget airline Allegiant Air, also saw its shares battered, falling 12.16 percent as the market reacted to potential hits to leisure travel demand.

Vegas Casino Operators See Steep Declines

Casino stocks in Las Vegas, Nevada mirrored broader market turbulence, facing nearly double-digit percentage losses across major operators. A report from the Las Vegas Review-Journal detailed the sharp declines in share prices: Wynn Resorts’ stock fell from $81.54 at the close of April 2 to $72.88 at the close of April 3. Caesars Entertainment, Red Rock Resorts, and MGM Resorts International each posted losses of around 9.5 percent, 9.4 percent, and 9.2 percent, respectively.

Golden Entertainment also faced a 9.1 percent drop, while Las Vegas Sands Corp. fell 6.7 percent, despite its operations being based solely in Asia. Boyd Gaming’s stock slid 6.2 percent, dropping from $67.58 on April 2 to $63.36 by the next day.

Analysts explained that casino operators, especially those relying heavily on international tourism, are particularly sensitive to global economic shifts. Heightened trade tensions could dampen tourism flows, especially from Asia, further affecting casino revenues.

Industry observers warned that the gaming sector’s heavy dependence on both cross-border travel and consumer confidence makes it especially vulnerable during periods of geopolitical instability.

Tariffs Threaten Long-Term Casino Growth

Beyond immediate market reactions, the newly introduced tariffs could have longer-term implications for U.S. casino companies. Many operators source equipment like slot machines, electronic gaming systems, and casino furnishings from overseas, and higher tariffs on these imports could drive up operational costs.

For example, tariffs on components imported from China could lead to increased expenses for slot machine production. Casino executives might be forced to postpone development projects, reconsider expansion plans, or even additional costs onto customers, impacting competitiveness in an already volatile market.

While the full ramifications of Trump’s tariff measures have yet to unfold, early signs suggest that uncertainty is already influencing investor behavior. Economists emphasized that an escalation of trade tensions could seriously derail the travel, leisure, and hospitality sectors, placing casino companies under sustained pressure.

In the meantime, Las Vegas casinos are grappling with immediate stock market losses and bracing for potential future challenges as the effects of the tariff move continue to ripple through global financial systems.

In other news, Wynn Las Vegas marked its 20th anniversary with a surprise celebration at Allegiant Stadium. The event featured an unannounced performance by Pitbull, alongside a red-carpet entrance and a formal sit-down dinner for guests.

The event honored Wynn’s “Day One” employees—those who have been with the property since it opened on April 28, 2005. As part of the celebration, Wynn Resorts CEO Craig Billings announced that all Day One employees would receive a $10,000 stock grant.

“Employees also got to see their names in lights around the stadium as part of the anniversary celebration,” the Las Vegas Review-Journal reported.

These workers, now shareholders in the company, were the focus of the event’s dedication, highlighting Wynn Las Vegas’ ongoing commitment to recognizing long-term employee contributions even during a turbulent period for the broader casino industry.

Source:

‘’Casino stocks plunge amid market carnage sparked by Trump tariffs’’, reviewjournal.com, April 03, 2025.