CNBC's Contessa Brewer reports on the action in casino stocks.

Casino stocks have seen notable declines, with companies like Melco and MGM Resorts experiencing drops attributed to a major typhoon near the Philippines. The storm has raised concerns about potential disruptions to Macau's casinos during a key revenue period, especially following a previous storm that impacted growth and gaming revenue. 

In addition to weather-related issues, the online betting sector is facing changes as Calshi introduces new parlay products, challenging the traditional territory of licensed sportsbooks. A recent federal court decision in Nevada has also affected crypto.com’s ability to offer certain sports trades, raising questions about regulatory oversight and competition in the online betting market.

Why casino stocks are pulling back

We are also watching the casino stocks dropping today. Our Contessa Brewer joins us with what's behind that move. Contessa. Yeah. Well, and let's take a look at the stocks because you're really seeing it in Melco. It's off by 6%. That's a vast improvement. When I looked last hour, it was down 12% MGM resorts down to Las Vegas and went off more than 5% blame it on the rain. There is a big typhoon that is swirling to the west of the Philippines and Macau is keeping an eye embracing. They just had another big storm last month that the analysts say really impacted growth. And they, and the trajectory of gross gaming revenue. For instance, the, the estimate was that Macau would get 12 to 13% more gaming revenue this September than last September. And instead what happened is it grew 6%. It's a blip on the radar as most hurricanes are, as long as they don't damage the infrastructure in some way. The last one did not. This one we'll have to keep our eye on it, but it's golden week. And what they're worried about is this is the very important week for these casinos to make money. And they're worried about it disrupting visitation there. So we'll have to keep our eye on the storm itself, but overall the trajectory much higher. Don't forget, I'm heading to Macau next week for the NBA and for the casinos, a big look at the concessionaires there and how they're operating. So you won't want to miss that. Can't wait to see that coverage contest. So that's, so that's one big story on your beat, the Macau typhoon story. The other is that this Calshi and how it's affecting some of the online betting stocks. Yeah. I'm looking right now. You've got Flutter up almost 3% on the day, DraftKings up 2.5%, but it has been a rough week for these sports betting stocks because Calshi launched Parley products, which were supposed to be totally the territory of the licensed sports books. And Calshi is getting in on it saying, hey, you can build your own combo. But interestingly, there was a federal judge in Nevada yesterday that told crypto.com that it could not continue to offer the sports trades under the predictions market platform. They said it does not meet the definition of that to be overseen by the CFTC, the federal agency that oversees prediction markets. So let's see how this affects Calshi. But right now, the investors are like, maybe Calshi could be offering some real competition to the licensed sports books.

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