Casino Stocks Plunge as Recession Fears Threaten Consumer Spending

Casino stocks have plunged nearly 20% since July, underperforming the broader market.

The declines may signal that Americans are poised to reduce spending amid economic uncertainty.

Investor Jim Chanos has pointed to Las Vegas revenue as a potential indicator of economic downturns.

Key economic data has weakened recently, stoking recession fears.

Third quarter earnings for casino operators could provide more evidence on the health of consumer spending.