WYNN-Not yet!
Gaming is truly beaten down and the only light at the end of this tunnel is a train headed straight at you and you have no way out. This train wreck may not be pretty.
The gaming industry is driven by discretionary income and until the consumer gets more comfortable with paying $4.00 for a gallon of gasoline and a gallon of Milk they will make fewer trips to a Casino.
Here in MS our casinos are holding on fairly well. The crowds are moderate with some sold out weekends this summer. Best of all we haven't seen lost jobs or employee cut backs, however tax revenues are notably declining year over year.
Your best view of a gaming turn may be seen in the gaming equipment companies IGT and WMS. They continue to develop new ways to improve the profitability of gaming revenue. To see any increase in their sales would be a good sign of better time ahead for casinos.
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