Resorts & Casinos industry news provided by Financial News USA (OTC: FNWU). Casino operator MGM Mirage Inc. (NYSE:MGM) is confident that demand for its Las Vegas Strip gambling and entertainment offerings will remain strong as the key New Year holiday approaches, a senior executive said on Monday. "Despite what you might have read, the market out here continues to do well," Dan D'Arrigo, senior vice president of finance at Las Vegas-based MGM, said at an investor meeting, commenting on broad fears of a potential consumer spending slowdown as interest rates rise and gas prices remain high. Shares of casino operator Wynn Resorts Ltd. (Nasdaq:WYNN) fell in premarket trading Friday after a recent run-up prompted a Citigroup analyst to downgrade his rating on valuation. Shares fell $1.35 to $93.40 in premarket trading after closing at $94.75 Thursday on the Nasdaq. The stock hit a 52-week high of $96.50 Thursday and is up 73 percent from the beginning of the year. Citigroup's Geoffrey Davis cut his rating on Wynn's stock to "Hold" from "Buy," based on the its price.
Las Vegas Sands Corp. (NYSE: LVS) recently said that the upcoming exhibition basketball game between the Chinese National Men's Team and the National Basketball Association Development League's Albuquerque Thunderbirds represents the first of many special events the company plans to host or sponsor in the Chinese enclave. Las Vegas Sands Corp. is one of the leading international developers of multi-use integrated resorts. Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, including the GS2(TM) wireless hand-held gaming unit and the WifiCasino(TM) wireless gaming system, recently provided an update regarding the previously announced http://biz.yahoo.com/prnews/061002/nym141.html?.v=54, http://biz.yahoo.com/prnews/061005/lath072.html?.v=78 Global Gaming Platform venture among Diamond I, Real Video Gaming, Inc. (RVG), Voyant Media Group, Inc. (VMG) and Ibis Networks.
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