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Gaming Stocks on the Rise as Major Gambling States -- Nevada and New Jersey -- Legalize Internet Gambling

NEW YORK, NY--(Marketwire - Mar 1, 2013) - Shares of gambling stocks and mobile gaming stocks have been trending upwards in recent weeks after the two largest gambling states in the U.S. -- Nevada and New Jersey -- announced the legalization of online gambling. Research Driven Investing examines investing opportunities in the Gaming Sector and provides equity research on Boyd Gaming Corporation ( NYSE : BYD ) and International Game Technology ( NYSE : IGT ).

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Although the state of Nevada has a population of less than 3 million people, the bill allows the state to enter into contracts with other states with larger populations. The Nevada Gaming Control Board Chairman A.G. Burnett has stated that he has already received roughly 20 license applications for online gambling. According to American Gaming Association across the world approximately $35 billion is wagered online each year.

"The potential agreements to pool players between states as contemplated by the Nevada bill can likely be attributed to similar practices in the lottery industry, such as Powerball," Fitch Ratings wrote in a recent report.

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Boyd Gaming is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, New Jersey, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. The company is scheduled to release results for the fourth quarter and full year 2012 on Monday, March 4th. Boyd Gaming recently announced an agreement to sell the assets of Dania Jai-Alai for $65.5 million in cash.

International Game Technology has recently announced an agreement with Genesis Gaming Inc., a leading designer of video slot gaming content, to create exclusive game content for IGT. "Genesis Gaming has been designing quality games that are consistent with the standards we have for our portfolio," said Richard Valiquette, Director of IGT Partners studio. "We look forward to collaborating with Genesis Gaming to publish innovative video slot games."

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