LAS VEGAS - The Bloomberg Las Vegas index shows the ups and downs, wins and losses in the recession-ravaged city. It provides a snapshot of the broader Las Vegas economy during the last five years.
Brian Gordon with Applied Analysis says gaming stocks - which were big winners last month - fell down on their luck this month.
"It's pretty choppy today, and we've seen prices bounce around in a pretty wide range," he said.
Barring a huge surge in the stock market later this month, he expects his firm's gaming index to decline in August, even though tourism is improving.
"We continue to grow. We have about 38 million people coming to Las Vegas. That's a positive sign. Room rates are up pretty healthy," he said.
Some investors might wonder if now is the time to buy gaming stocks and let the gaming industry make them some money off the casino floor.
"It depends on their personal investment strategy, but clearly, they've lost a lot of the value compared to where they were. There's a huge sell-off. So compared to just a couple of weeks ago, price points are much better if you're looking to get into the game," Gordon said.
Barbara Haynes and Tom Campbell are visiting Las Vegas from Cincinnati, but are considering investing here. They are confident about a Las Vegas comeback.
"Vegas, like most parts of the country, probably could think the economy could be better," Campbell said.
"We're looking at the economy and rental property, homes for sale," Haynes added.
Most gaming companies have seen stock prices rise from this time last year. Wynn Resorts stock is up 62%. Las Vegas Sands stock posted a 38% gain. MGM Resorts stock, meanwhile, is up 1%.
Boyd Gaming stock is down 29% from last year.
