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Gaming Index Loses Ground, Gains New Players

LAS VEGAS-The Applied Analysis Gaming Index, which welcomed three new companies in December, posts its second consecutive monthly decline following six consecutive monthly gains.

By Brian K. Miller | Updated on January 03, 2008

LAS VEGAS-An index that tracks the daily average share price of 11 publicly traded gaming-related companies posted its second consecutive monthly decline following six consecutive monthly gains. The decline is being attributed to profit-taking and supply concerns in Macau, China, which prompted divestitures that pulled the index’s two biggest players, Wynn Resorts Ltd. and Las Vegas Sands Corp., off their record-high prices.

Produced and maintained by the local business research and advisory firm Applied Analysis, the index was launched in 1998 with a value of 100. The index hit a record high of 667.09 in October. In November, it fell nearly 81 points or 12% to 586.26. In December, the index fell another 16.6 points or 2.8% to 569.67.

Despite the decline in the index in November and December, the stock prices of Las Vegas Sands and Wynn Resorts remained substantially higher than one year ago. Another beneficiary in 2007 was MGM Mirage, which welcomed capital from Dubai World and introduced a clear strategy of leveraging its strong brand identity and commencing a worldwide expansion, says Applied Analysis principal Brian Gordon.

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