US operators’ casino stocks plummeted this Thursday after President Trump announced the new tariffs, causing the worst decline in the US stock market in the past decade.
The stocks of Las Vegas operators are among the ones that took the most significant hit, with a number of companies experiencing much steeper declines than the market suggests.
One casino that was most affected by the tariffs announcement was Wynn Resorts. The stocks of this historic Las Vegas brand dropped by 10.62% to $72.88, down from $81.54 per share the day before.
Other Las Vegas operators that saw a drastic decline in stock value are Caesars Entertainment, with a 9.52% drop; Red Rock Resorts (parent company of Station Casinos), with a 9.43% drop; and MGM Resorts International, with a stock decline of 9.27%.
Moreover, Golden Entertainment is also part of this infamous company, with its shares recording a drop in value of 9.1%.
Though operators with a more diversified portfolio of operations did fare slightly better, they still recorded major losses.
Las Vegas Sands, despite being only active in Asia at this point with a Las Vegas headquarters, still experienced a 6.47% drop in stock value. Boyd Gaming also found itself on this list, with its shares dropping by 6.24% to $63.36, down from $67.58 the day before.
In light of the tariffs of President Trump, what is particularly concerning is that the gaming industry of Nevada was already facing serious challenges in 2024, with the newly introduced tariffs causing even more damage.
According to the Nevada Gaming Control Board, the Las Vegas Strip generated $690.3 million in March 2025, a figure that is a 13.8% drop when compared to March 2024 and a whopping 17.8% decline when compared to January 2025.
