Las Vegas Sands (LVS), Wynn (WYNN), MGM Resorts (MGM), Boyd (BYD) Drop on Weak Las Vegas Market

Shares of Las Vegas Sands (NYSE:LVS), Wynn (NASDAQ:WYNN), MGM Resorts (NYSE:MGM), Boyd (NYSE:BYD) were all under pressure Thursday as new gambling revenue in Las Vegas dropped in January.

Revenue for Las Vegas Strip fell to $482.7 million, a decline of 2.5 percent. Across the state of Nevada gambling revenue dropped by $877.4 million.

JPMorgan (NYSE:JPM) analyst Joseph Greff said, "We view these Strip results as disappointing, even adjusting for hold. While one can't view from aggregate results, we believe there is a big disparity in performance between relatively better performing higher-end properties and underperforming mid-tier and lower price point Strip properties."

Wells Fargo analyst Carol Santarelli's take was this: "Much was made of the strong start to the year with visitor and convention volumes up significantly in January on the Strip. Add in the Cosmopolitan opening in December and a fairly easy comparison, despite having one less weekend day in January 2011, and we believe expectations for January results on the Strip certainly called for year-over-year growth."

Boyd Gaming was trading at $9.60, down $0.28, or 2.83 percent, as of 12:16 PM EST. MGM Resorts was trading at $13.04, falling $0.48, or 3.55 percent. Wynn Resorts was at $124.29, down $3.80, or 2.97 percent. Las Vegas Sands was at $40.67, down $1.54, or 3.65 percent.