analysts expect further business deterioration in 3Q results
analysts downgrade stock to sell as weakness continues in Mississippi. And competition heats up in Missouri.
Analysts expect a much wider loss in its third-quarter as fewer gamblers hit the bottom line and competition gains traction. They also expect Corporate and development expenses to continue to rise as project costs for its Lady Luck Nemacolin in western Pennsylvania begin to rise.
Operating losses are estimated at 12 million, or 15 cents per share, for the three months ending Jan 31.
Analysts also are disappointed with the revenue results related to the property in Cape Girardeau, Mo. and costs tied to Pennsylvania project. Many analysts are still reeling from the fire sale of its Biloxi property last quarter.