Home » NEWS » Gaming » Analyst: Casinos to see mixed results

Analyst: Casinos to see mixed results

GULF COAST — A Jefferies & Co. analyst said casinos along the Gulf Coast should report mixed results in upcoming revenue reports, noting the region still lags other markets.

Analyst David Katz said he expects Penn National Gaming Inc.’s Hollywood Casino to report a 12.2 percent decline in fourth-quarter revenue at $27.9 million. Pinnacle Entertainment Inc.’s Boomtown property should post a 10.6 percent revenue decline at $31.8 million. Boyd Gaming Corp.’s Treasure Chest casino should post a 10 percent decline in revenue at $20.6 million. The three casinos are in the Baton Rouge and New Orleans markets.

Pinnacle’s L’Auberge du Lac property is forecast to report revenue declines in the fourth quarter of 7.3 percent and Isle of Capri Casinos Inc.’s Lake Charles property is expected to post a decline of 5 percent in the October quarter to $34.5 million.

Katz also forecast revenue declines of 1.5 percent at Boyd Gaming’s Delta Downs, and revenue growth of 4.6 percent at Pinnacle’s Boomtown Bossier City property and 7.4 percent growth at Boyd Gaming’s Sam’s Town property.

Katz also said casinos in Mississippi should see slight revenue declines in the quarter. He forecast revenue declines of 14.9 percent at Penn National’s Hollywood Casino Bay and 2.8 percent at Tunica. Meanwhile, Boomtown Biloxi should see revenue growth of 3.4 percent.

Katz forecast a quarterly revenue decline of 1.5 percent at MGM Resort’s Beau Rivage and revenue growth of 1.7 percent at its Goldstrike Tunica property. Boyd Gaming’s Sam’s Town casino is expected to post a 7.8 percent drop in revenue.

In morning trading, shares of Isle of Capri Casinos Inc. rose 29 cents, or 3.4 percent, to $8.81 while Pinnacle Entertainment Inc. shares added 31 cents, or 2.3 percent, to $13.57. Shares of Penn National Gaming Inc., Boyd Gaming Corp. and MGM Resorts International all rose less than 2 percent.

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*