Gambling Stocks Tumble

[Allen]

This is just for discussion. I am not making any opinions, just reporting what happened in the stock market today FYI. <g>

Gambling stocks took a real dump today as several of them reported poorer than expected earnings. All of them are basically calling it a two-fold.... lower visitor count AND a LOT less high rollers on table games.

MGM/Mirage [symbol MGG]estimates it may only make 1/2 analysts expectations. The best of all the chains appears to be Station Casinos [symbol STN] where they are claiming they are less dependant on visitors and more dependant on locals and "slots" income [which was commented on as counting all machines including VP].

Allen

[Lawrence_Boxer]

A little bit of a domino effect is going on here, as a couple of bad reports
fueled declines of other gaming stocks, which are also expected to post
disappointing earnings.

The LV Sun has a good overview:

http://www.lasvegassun.com/sunbin/stories/sun/2003/jan/08/514489023.html

An interesting observation from one analyst was that "the bodies" are there,
but they're spending a lot less. Where are those Indonesian high-rollers
when you need 'em? <g>
lb

Gambling stocks took a real dump today as several of them reported poorer
than expected earnings. All of them are basically calling it a

two-fold....

···

lower visitor count AND a LOT less high rollers on table games.