Small-Cap Casinos Gain On Down Day for Sands, MGM (BYD, MCRI, LVS, MGM, WYNN, PNK, PENN, ISLE, ASCA)Earlier this week we noted that bets on Macau are paying off big for a handful of U.S.-listed casino giants. While that remains the case, small-cap casinos are the big winners today as Las Vegas Sands (LVS), and its multi-billion dollar peers MGM Mirage (MGM) and Wynn Resorts (WYNN) retreat for the second straight session. Over the last week, Boyd Gaming Corp (BYD), Monarch Casino & Resort (MCRI), and Pinnacle Entertainment (PNK) have led the the Casino Stocks Index with gains of 5% or more. Pinnacle and Penn National Gaming (PENN) were both initiated at with a Buy rating from Deutsche Bank this morning while Boyd, Ameristar Casinos (ASCA), and Isle of Capri Casinos (ISLE) got started at Hold. It will be interesting to see how these stocks perform in 2010. Recent retail figures and consumer sentiment indicate that Americans are willing to open their wallets again, but so far there’s been no sign of a dramatic improvement in their penchant for gambling. Across all of tickerspy’s Indexes, the Casino Stocks Index is ranked 54 in performance over the last month. To see a performance graph, Index components, and dividend and valuation metrics, visit the Casino Stocks Index at tickerspy.com.
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