This week’s stock performers: The best and the worst locally
28 September 2012
Biggest gainer locally: Bally Technologies
Even as the broader stock market fell this week, most big Las Vegas casino and gaming supply company stocks rose.
The Standard & Poor's 500 fell 1.3 percent during the week amid the continued slugishness of the U.S. economy.
But the stock of Las Vegas Sands Corp. rose 3.2 percent with smaller gains recorded for MGM Resorts International, Wynn Resorts Ltd., Boyd Gaming Corp., International Game Technology and Shuffle Master Inc.
The biggest gainer locally was Bally Technologies Inc., which improved 4.1 percent or $1.95 from its Sept. 21 close to finish at $49.39 on Friday.
Analysts boosted projections for the company's revenue and profits during the next few years after Bally announced deals to sell or lease more than 4,000 video gaming terminals in Illinois.
Biggest decliner locally: Global Cash Access
Only a handful of the big local gaming stocks fell this week. Caesars Entertainment Corp. was off by 1 percent from its Sept. 21 close while Global Cash Access Holdings Inc. (GCA) fell 14 cents, or 1.7 percent, to close at $8.05.
GCA provides casino ATM, cash advance and credit services and is positioned to service online poker sites. Investors may have noticed that competitor Global Payments Gaming Services Inc. of Atlanta had signed a deal to provide services in certain Station Casinos LLC properties, though Station remains a GCA customer. Or, some profit-taking could have been behind the GCA stock decline as the stock remains well above its 52-week low of $2.18.
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