subject: Shin Kong Wedbush - Us Gaming Stocks Looking For Relief In 2010 [print this page] The calendar has now officially turned to the year 2010, and many casino operators are hoping that means a change of luck. The past few years have been rough for US-based gaming stocks, but companies are expecting a turnaround soon.
It would be ideal if the stock prices for many of these gaming companies turned around in 2010, but most analysts are pointing towards 2011 for a complete recovery. The economic recession has destroyed a once-proud casino industry, and a slow comeback is expected.
It will be good enough for companies such as Las Vegas Sands, MGM Mirage, and Wynn Resorts, if their stock prices just held steady over the next couple of months. The past two years have brought big swings up and down in stock prices.
Las Vegas Sands could have one of the brightest futures of the gaming companies. Sands has recently completed an initial public offering in Asia that raised billions of dollars. They are now focused on finishing projects in Macau and Singapore.
One company, Harrah's Entertainment, has already made the move towards online gambling. It is not yet regulated in the US, but Harrah's has been the pioneer into the Internet gambling industry for big Las Vegas casino companies.
The US may re-examine their online gambling laws in early 2010. Representative Barney Frank is pushing for a regulated system in the country, and many lawmakers have jumped on board with the idea.
