Casino Stocks on a Roll

20 Dec 2004

NEW YORK – As reported by the Street.com: "Casino stocks have been on a roll, and some investors are betting on continued strong growth in Las Vegas and gains from industry expansion as far afield as China.

"…Notably, Merrill Lynch's David Anders, who lifted his price targets on shares of Harrah's Entertainment (HET:NYSE) to $83 from $72 and MGM Mirage (MGG:NYSE) to $80 from $65.

"…In Harrah's case, the company will enjoy synergies and increased cash flow from its pending acquisition of Caesars Entertainment (CZR:NYSE), as well as long-term growth opportunities in Pennsylvania, the U.K. and Singapore. MGM Mirage, which is in the process of acquiring Mandalay Resort Group (MBG:NYSE), has "meaningful" growth opportunities in Las Vegas and the U.K., among other places.

"…A new entrant's dazzling debut helped buoy the sector. Las Vegas Sands Corp. (LVS:NYSE) shares soared to almost $50 after the company priced its initial public offering at $29 a share…"

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	Casino Stocks on a Roll 20 Dec 2004 NEW YORK – As reported by the Street.com: "Casino stocks have been on a roll, and some investors are betting on continued strong growth in Las Vegas and gains from industry expansion as far afield as China. "…Notably, Merrill Lynch's David Anders, who lifted his price targets on shares of Harrah's Entertainment (HET:NYSE) to $83 from $72 and MGM Mirage (MGG:NYSE) to $80 from $65. "…In Harrah's case, the company will enjoy synergies and increased cash flow from its pending acquisition of Caesars Entertainment (CZR:NYSE), as well as long-term growth opportunities in Pennsylvania, the U.K. and Singapore. MGM Mirage, which is in the process of acquiring Mandalay Resort Group (MBG:NYSE), has "meaningful" growth opportunities in Las Vegas and the U.K., among other places. "…A new entrant's dazzling debut helped buoy the sector. Las Vegas Sands Corp. (LVS:NYSE) shares soared to almost $50 after the company priced its initial public offering at $29 a share…"

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Casino Stocks on a Roll