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Caesars stock prices drop 24 percent in one day

Posted at 7:52 AM, Aug 02, 2018
and last updated 2018-08-02 13:53:02-04

Wednesday was not a good day on Wall Street for Las Vegas, with Caesars stock taking a 24 percent single-day plunge.

Wynn and MGM also saw their prices go down slightly. According to CNN Money, the drop was in response to a lack of bookings of rooms on the Strip.

Because of that, a lot of resorts are offering bargains on rates. Since there has been a slump in bookings, Caesars' CEO said room revenues for this quarter would essentially be flat.

But despite that, they're also confident they'll post better numbers by the end of this year.