Casino executives at the industry’s big trade show in Las Vegas this week tried to wrap their heads around a conundrum: Their sales are at record highs, but their stocks are in the dumps.
“Business is actually great,” Jay Snowden, chief executive officer of Penn Entertainment Inc., which operates 43 properties, told attendees at the Global Gaming Expo on Tuesday. “There’s a narrative that it’s going to get bad.”
The trade show, held at the Venetian Expo center from Oct. 10 to 13, typically has a unofficial theme, and this year executive after executive lamented the disconnect between the strength of their business and the weakness of their company’s shares.
