The U.S. stock market settled Tuesday following Wall Street’s worst performance since 2022.
With global investors fearing a recession on Monday, U.S. gaming industry leaders were caught up in the drastic downturn, some seeing 52-week market lows.
However, the Dow Jones rose 293.66 points, while the NASDAQ and S&P 500 finished Tuesday up 1%.
Casino and hotel operator Caesars Entertainment suffered a 6.7% drop in shares on Monday, one of the biggest declines in the market, but rebounded with a stock price of $34.57 per share, up 4.1% on Tuesday.
While much of the day’s gains came early Tuesday before leveling off before close, it was a far cry from Monday, when Japan’s stock index fell 12.4% and kicked off a scary situation. Japan’s Nikkei rebounded 10% on Tuesday.
Small improvements
MGM Resorts responded well too as its price of $34.40 per share was up 3.9% on the day.
Wynn Resorts rose 3.7% to reach $76.29 on Tuesday while Penn Entertainment was up 2.9% at the market’s close. After being down 2% after Monday, Boyd Gaming rebounded 1.5%.
Las Vegas Sands rallied from down half a percentage point on Monday to 2.2% on Tuesday.
The gaming industry wasn’t met with all green arrows, though. Bally Corporation, which is undergoing business changes, fell 0.35% on Tuesday, a day after dropping just 0.08%.
Tough times for online operators
Online sports betting and iGaming operators continued to struggle on Tuesday.
Flutter Entertainment, the majority owner of FanDuel, dropped a whopping 6% on Monday and still finished Tuesday with a price of $181.2, down a slight 0.3%.
DraftKings, which recently announced plans for a surcharge addition on winning bets in Illinois, New York, Pennsylvania, and Vermont, fell 1.3% to $31.38.
BetMGM platform partner Entain Plc continues to have a rough go of it recently, dropping 4% on Monday before falling another 3.9% on Tuesday, reaching a new company-low $6.39 per share.
Rush Street Interactive, however, bucked the trend. The U.S. online gaming company watched shares fall nearly 7% during Monday’s downturn but gained 31 cents, or 3.3%, on Tuesday.
