Steep Decline for Nevada Gaming Index

LAS VEGAS-An index that tracks the daily average share prices of publicly traded gaming companies with significant operations in Nevada last month experienced the single largest decline in valuation since its inception nearly 10 years ago.

The index was launched in 1998 with a value of 100. After experiencing the two largest monthly gains in the history of the index in September and October, the index in November fell nearly 81 points or 12% to 586,26 from an all-time high of 667.09.

Applied Analysis, the locally based business research and advisory firm that created and maintains the index attributes the decline in the AAGI to a dip in valuation that affected primarily public gaming companies with assets in Asian gaming markets. Those companies, including AAGI companies Las Vegas Sands and Wynn Resorts, had seen significant increases in value in recent months as the Macau, China gaming market expanded at a robust pace.