Wynn Resorts staff who received $10,000 in company stock on Wednesday for 20 years of service experienced bad timing as the share price plummeted 10.6% on Thursday. [Image: Shutterstock.com]
The Wynn Resorts share price plunged 10.62% on Thursday after the market reacted to the specifics of US President Donald Trump’s global tariff plan. Other major casino companies like MGM Resorts and Caesars Entertainment experienced similarly-sized drops.
Pre-market trading for Friday looks volatile once more, so Wynn’s stock price is likely to reach its lowest point since October 2022.
The timing is not ideal for those staff members who received $10,000 worth of company stock as a thank-you for being with the firm since the beginning. The Wynn Las Vegas casino is celebrating its 20-year anniversary this month, and employees who have worked there since the start are also getting a choice of gifts, such as a MacBook or a video game console.
the $10,000 in company stock is now worth $8,938
After yesterday’s drop, the $10,000 in company stock is now worth $8,938, so it was certainly poor timing. With another 5% drop looking likely off the back of pre-market trading, the $10,000 figure could be worth $8,491 by the end of Friday.
Investors are concerned about the knock-on impact of Trump’s tariffs. Many economists believe that it will strain consumers, with price increases likely and job losses on the horizon. For the gaming industry, this means less discretionary spending on gambling, entertainment, and vacations.
