After plummeting for over a year, casino stock prices looked as if it would have bottomed out and begun recovering within the last couple months, but at the moment are again fluttering. Gaming industry analysts are saying that there are certainly bumps ahead at the path for gambling companies, and optimism need to be guarded, if allowed at all.The Las Vegas Journal-Review is reporting that Applied Analysis of Las Vegas found that may be monthly computation of composite gaming stock value had declined in June, after two positive months. Industry operators had hoped the nice returns in April and should would mean an escalating rate of recovery, but that has now been dashed.
"The V-shaped recovery is off the table," Rich Moriarty of Union Gaming Group told the Review-Journal. "The worst is over, but we're not at all out of the woods yet."
Applied Analysis employs it monthly gaming index to measure overall market movement. The index figures within the prices of the most important Las Vegas gaming operators' stock.
The index have been as high as 667.09 in October of 2007, and fell as little as 189.50 in March. June's index was 233.03, 7 points down from May.
Interestingly, the index found manufacturers' stock to be rising, as new gambling areas are legalized, creating new demands for product.
Published on July 2, 2009 by MattMiller
Read More... [Source: Las Vegas Casinos in the News]
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