Volatility marked the gaming sector in January.
Half of the publicly traded casino companies and slot machine makers tracked by Las Vegas financial consultant Applied Analysis saw their average daily share price record double-digit jumps during the month. Last year, many gaming stocks fell to all-time lows.
“Concerns about the national economy persisted,” Applied Analysis partner Brian Gordon wrote in the report Friday. “Speculation of economic stimulus efforts is uncertain. Also during the month, consumer confidence levels dipped to their lowest levels in history, a sign that demand in the leisure industry may be impacted."
Applied Analysis’ Gaming Index fell just 6.17 points in January to close at 223.84, a modest decline compared to several double digit drops the index experienced last year.