Why casino stocks are pulling back

Casino Industry - Casino stocks are experiencing a decline, with Melco down by 6%, MGM Resorts down by 2%, and Las Vegas Sands and Wynn down more than 5% [1] - A significant typhoon is approaching the Philippines, prompting concerns in Macau, which recently faced another storm that negatively impacted growth and gross gaming revenue [2][3] - Analysts had estimated a 12% to 13% increase in gaming revenue for September compared to last year, but actual growth was only 6% [2][3] - The upcoming Golden Week is critical for casinos, and there are worries that the typhoon may disrupt visitor numbers during this important period [3] Online Betting Industry - Online betting stocks are seeing mixed performance, with Flutter up nearly 3% and DraftKings up 2.5% [5] - The week has been challenging for sports betting stocks due to competition from Koshi, which has launched parlay products traditionally dominated by licensed sportsbooks [5] - A federal judge in Nevada ruled that Crypto.com cannot continue offering sports trades under its prediction market platform, which may impact competition dynamics in the online betting space [6]