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Odds Are Gaming Industry Will Expand

NEW YORK CITY-Ventures now stalled could come off the shelf as the capital markets place a bet on the casinos. Las Vegas is expected to make the best of the deal.

By John Howe | Updated on February 07, 2001

NEW YORK CITY-Through Jan. 25, the high-yield gaming sector has provided a return of 6.27%, according to the Bear Stearns High-Yield Index, and year-to-date, this sector has received inflows of $2 billion in contrast to approximately $12 billion in net outflows for all of last year. This turnabout may enable gaming companies to proceed with plans now on the shelf or create new ventures to improve their rate of return.

“Last year’s weak high-yield market curtailed many plans for expansion in the industry,” says Jason Adder, Bear Stearns’ senior managing director and high-yield gaming analyst. “Now, however, the sentiment is turning around and that avenue of capital is now open,” he says.

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