The Chief Executive Officer for MGM Mirage hotels and casinos has stated that the initial perception of the opening of the CityCenter affecting surrounding casinos has been false. So far, the casinos appear to be doing well on their own and sharing in a bit of increase in stocks as well. We are still very early in the year with some expected predictions to be happening at the end of this month.
As of right now, the Applied Analysis Gaming index has witnessed a rise of 12 points in January bringing its number to 298.23. This is an exciting time for the land based casino gambling industry, but it is still tricky as the casinos that were worried about the entrance of the CityCenter have not felt the complete wrath as of yet. With more projects on the way, the casino hotel mega-plex will continue to grow throughout the next few years. After the final stages are complete it will give the Strip a better opportunity to know what is n store for neighboring casinos as well as how the citycenter can be marketed to help pay back that $8.5 billion in order to turn a profit.
Although things have been very good lately for the casino industry, one gambling company, Pinnacle Entertainment continues to suffer from its latest transitions. November of Last year saw a changing of the guard of their Chief Executive Officer which has still impacted them to this day. Now, Missouri gambling regulators are working on revoking their license which could end up crippling the company.
Other online gambling companies sch as IGT are being watched carefully as their stock took a 14 point slide in recent months. According to analysts, there should be a pause happening now with the gambling industry, and that will give us a better idea of what to expect for the future.
