Gambling Stock Futures
The future of gambling stock prices takes a blow with a move which is not surpising but something of a wake up call to investors it has revealed that US stock broking outfit Goldman Sachs has substantially reduced its target price on a number leading and second line casino groups.
While Goldman’s seems to appreciate that the footfall to many US based casino groups may not be largely affected by the downturn, there has been a drop in the amount of money spent by each visitor. It is this rather than any footfall change which has alerted analysts to the fact they need to revise their thoughts and their figures.
However when you see the target price for the likes of Las Vegas Sands reduced from $60 to $25 and MGM Mirage form $32 to $17 you can get a sense of the changes going on in the sector. There have also been substantial changes in the price target of groups such as Wynn resorts, Ameristar Casinos, Boyd Gaming and a number of other casinos outfits.
If I was a heavy investor I would hold on to all my gambling related stocks for the long-term because the pay-off will come. I also like companies that are diversified into online poker, online caisno, bingo online and more.
