November Tough Month For Gambling Stocks

LAS VEGAS (AP) - November was another downward slide for gambling stocks.

Nine out of the 10 casino operators and slot machine manufacturers charted by Las Vegas-based business advisory firm Applied Analysis showed month-over-month declines in their average daily stock prices.

Only casino operator Penn National Gaming reported an increase. Applied Analysis principal Brian Gordon says the company's gaming index hit its lowest level since January 2004. The index closed the month at 225.91, down almost 37 points from October and down more than 360 points from a year ago.

Major casino operators MGM Mirage, Las Vegas Sands Corp., Boyd Gaming Corp. and Wynn Resorts Ltd. all had double-digit declines in their month-over-month daily price averages.

Information from: Las Vegas Review-Journal,

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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