Las Vegas Sun NewsThis week’s stock performers: The best and the worst locally
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Courtesy photo
Caesars Palace features six hotel towers, which will include the newly announced Nobu Hotel, replacing the existing Centurion Tower.
Friday
31 August 2012
2:54 p.m.
Tala Marie deals a game called Cincinnati 7 Card Stud at a Shuffle Master booth during the first day of the Global Gaming Expo (G2E) convention at the Sands Expo Center Tuesday, Oct. 4, 2011.
Biggest loser: Caesars Entertainment Corp.
Caesars' stock tumbled 10.7 percent this week to close at $7.18.
Investors remain concerned that the biggest U.S. casino operator will struggle to make payments on its hefty $19.9 billion debt. Unlike competitors Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd., Caesars doesn't have Asian casinos to boost its revenue.
Caesars, in the meantime, faces intense competition in its big Las Vegas and Atlantic City markets, while potentially lucrative online gaming initiatives are stalled by inaction by Congress.
In downgrading the rating outlook for Caesars subsidiaries this week, a Standard & Poor's analyst mentioned the possibility of a Caesars bankruptcy. Despite such talk, other analysts note that Caesars has sufficient liquidity to cover its obligations through the end of 2013 and deep-pocketed sponsors who could step in with new financing if necessary.
•••
Biggest gainer: Shuffle Master Inc.
With gaming growing internationally in Asia and domestically in U.S. states such as Maryland and Massachusetts, companies that supply slot machines, table games and other casino equipment are expecting higher sales.
In a week that saw the Dow Jones Industrial Average fall 0.5 percent, Shuffle Master stock gained 5 percent to close at $15.17.
The company received a favorable mention on the Motley Fool finance site, which noted it has strong sales, a healthy balance sheet and is one of the manufacturers that may cash in on the growth of Internet gambling, including the imminent introduction of online poker in Nevada.
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Standard & Poors is right on the money, The deep pocket people are Rock Gaming,Jimmy Buffet, Nobu Hotel, All the restarunts in Caesars for lease,When the company credit card is up to 19 Billion we need new money for this ponzz. . The banks will not give Gary Lovechecks any more money.13 is the lucky number for Caesars , this is the year we do the Exit play with a chapter 11. investor note ,, This stock is a DOG.
My wife and I got free rooms at Caesars for years, then they forgot which machines people wanted to play. I emailed them constantly about what people wanted. The person incharge of slot play should be fired, If you go to any of the new casinos such as Aliante, redrock, even TI, they all have gameking multi game, multi denomination keno, draw poker for .01 thru .25
Caesars doesn't have any of these machines in any of there casinos, because they want to get your money as fast as possible and get you out of there. There cheapest game is .25 not for the average player today.
I now stay at the aliante or redrock and love it. Also play a lot longer for the money. I have emailed Caesars a dozen times to no avail. they just don't get it. Maybe After they go bankrupt someone will put in the right machines. A full hotel with no gamers is a sad sight.