Why Eldorado Resorts Shares Plunged 11.8% on Tuesday
Shares of casino company Eldorado Resorts (NASDAQ: ERI) fell as much as 11.8% in trading Tuesday as coronavirus concerns hit the casino industry. Shares ended the day down 11.7% and are now down 18.3% for the week.
The general market concern is that the coronavirus will hurt travel and hospitality demand, and that's led to the sell-off. We're starting to see data from Asia that demand for hotel rooms is down significantly, but that hasn't hit the U.S. yet. If it does, casinos could feel an impact quickly.
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Source Fool.com
