This morning, the leading casino and resort operator Wynn Resorts Ltd (NASDAQ:WYNN) is trading sharply lower. The stock is trading down by $6.64 to $105.25 a share. This stock is trading below all of it’s important daily chart moving averages which puts the stock in a confirmed downtrend. The stock will have some minor short term support around the $100.00 level. WYNN stock will have some short term intra-day support around the $102.00 level. Earlier, it was reported that Wynn Resorts is being sued by it’s vice chairman over a $135 million donation made to the University of Macau and other matters.
Other leading casino stocks that are declining today include Las Vegas Sands Corp (NYSE:LVS), and MGM Resorts International (NYSE:MGM). These leading gaming stocks look to be trading lower in sympathy to the sell off in WYNN.