November 6, 2012
Hurricane Sandy impacts casino companies, suppliers
October was one those “mixed bags” for the gaming industry.
Compared with a year ago, that average daily stock prices for 12 publicly traded gaming companies are down collectively 8.5 percent.
However, more than half of the companies followed by Las Vegas-based financial adviser Applied Analysis for the firm’s monthly gaming index, experienced moderate increases in their average daily price.
The index, which tracks some 300 market variables, grew 10.5 percent.
“The sector’s annual performance moved in an opposite direction compared to the broader equities market,” Applied Analysis principal Brian Gordon told the firm’s clients in a research report. “Gaming stocks appear to be making up ground.”