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Dover Downs Gaming & Entertainment Inc. Message Board

  • quazimodoagogo quazimodoagogo Aug 7, 2002 7:30 AM Flag

    From Yahoo Finance

    Maybe this news will get us a bump today.

    Gaming and Lodging - Deutsche Bank's Marc Falcone Launches Coverage of the Sector

    NEW YORK--(BUSINESS WIRE)--Aug. 6, 2002--Deutsche Bank Securities Inc. analyst Marc Falcone launched coverage of the Gaming and Lodging sector with the initiation of 10 companies including FelCor Lodging Trust Incorporated (NYSE:FCH - News); Harrah's Entertainment, Inc. (NYSE:HET - News); Hilton Hotels Corporation (NYSE:HLT - News); Host Marriott Corporation (NYSE:HMT - News); Mandalay Resort Group (NYSE:MBG - News); Marriott International Inc. (NYSE:MAR - News); MGM MIRAGE (NYSE:MGG - News); Park Place Entertainment Corporation (NYSE:PPE - News); Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT - News); and Station Casinos, Inc. (NYSE:STN - News).

    According to Falcone, gaming fundamentals are strong at the same time that stock valuations are near the group's post-9/11 lows. "Gaming stocks should outperform other cyclicals led by the Las Vegas names," he said. Aspects such as earnings transparency, the recession-resistant nature of the group, solid regional performance, a rebound in Las Vegas, a focus on total profitability and low supply growth currently provide a favorable backdrop for the group, in Falcone's opinion.

    Similarly, Falcone believes hotel stock valuations also are compelling, but with a more positive outlook emerging over time. He points out that while the lodging companies are focusing on reducing costs and supply growth is low, a rebound in business travel is the missing catalyst for the stocks. "Although the group could mark time in the near-term, given the extended downturn in business travel, the recent spurt of weak economic data and lowered expectations for 3Q02, we believe value oriented investors with a long-term investment horizon should benefit from exposure to the sector," Falcone said.

    When do we get slots?

1.10+0.03(+2.80%)Jun 24 4:02 PMEDT