New Bear Stearns report analyzes gaming environment and prospects for worldwide market development; Industry's most comprehensive study of gaming.NEW YORK--(BUSINESS WIRE)--March 27, 1996--"We believe the gaming industry still has growth potential, as more states continue to seek ways to create jobs, generate taxes, and stimulate tourism. However, over the next several years the industry will likely experience slower growth than in the first half of the decade. This decline is due to improved economic conditions and increased moral opposition which has slowed the proliferation of legislation," predicts Jason N. Ader, a managing director and senior gaming and lodging industry analyst with Bear, Stearns & Co. Inc., in his recently published 1996 Global Gaming Almanac almanac, originally, a calendar with notations of astronomical and other data. Almanacs have been known in simple form almost since the invention of writing, for they served to record religious feasts, seasonal changes, and the like. . Covering domestic gaming by region, as well as the global industry outlook, Ader's 527 page report is the most comprehensive study on the gaming industry ever conducted. The document is a unique global perspective of the casino industry for investors who wish to understand the dynamics behind the existing markets and potential new jurisdictions. In addition, it includes summary reports, financial information and earnings projections for 51 publicly traded gaming companies. Lastly, this report fully analyzes the 1996 November elections and the implications they will likely have on the casino industry over the next 12 months. Alan Greenberg, chairman of the board, said, "The depth and breadth of the Global Gaming Almanac reflects the expertise of one of the strongest gaming groups on Wall Street. This industry study is an invaluable tool for investors everywhere." Regarding growth in the industry, Jason Ader said, "The sector has experienced significant expansion in the last several years (industry revenues grew 24% in 1994), driven by an accelerated, unsustainable pace of gaming legalization LEGALIZATION. The act of making lawful. 2. By legalization, is also understood the act by which a judge or competent officer authenticates a record, or other matter, in order that the same may be lawfully read in evidence. Vide Authentication. . We anticipate more conservative growth over the next several years, with revenues rising 11% in 1995 and 10% in 1996. Although the proliferation of gaming domestically is slowing somewhat, there are still opportunities for growth within the existing legal regulatory environs. In addition to selected international opportunities, the traditional Nevada and Atlantic City Atlantic City, city (1990 pop. 37,986), Atlantic co., SE N.J., an Atlantic resort and convention center; settled c.1790, inc. 1854. Situated on Absecon Island, a barrier island 10 mi (16. venues represent the best opportunities in the industry." In addition to the conclusion that the gaming industry still has growth potential, major findings of the study include: -- The Nevada gaming market continues to grow. The most notable developments in 1995 were the continuing trend in the planned development of themed entertainment superstores and the continued expansion of new facilities. This trend has been spurred by continued growth in visitation and revenue. Nevada casinos posted a 12.4% increase in revenues in 1994, and while revenues increased at only 5.4% in 1995, optimism prevails throughout the industry, particularly on the Strip, which posted a 21.45% increase in revenue in 1994, although only a 3.5% increase in revenue was realized in 1995. We believe that demand and revenues will re-accelerate in 1996 and that Mirage Resorts, Circus Circus Circus Circus is used as the name for two casinos:
in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. Grand are best positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this market's potential. -- The Atlantic City market environment has improved dramatically. The State Legislature A state legislature may refer to a legislative branch or body of a political subdivision in a federal system. The following legislatures exist in the following political subdivisions:  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. , who obtained his fourth license; Ronald Perlman; Marvin Davis;
and Steve Wynn of Mirage Resorts. In addition, the Casino Reinvestment
Development Authority approved plans to add more rooms to five casino
hotels. We expect several major gaming companies, including Hilton
Hotels, MGM Grand, and Circus Circus to pursue major development plans
in this market.
Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading and brokerage firm, is the major subsidiary of The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange : BSC (Binary Synchronous Communications) See bisync. ). With over $7.1 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, foreign exchange and futures sales and trading, asset management, and custody services. Through Bear, Stearns Securities Corp., it provides professional and correspondent clearing, including securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has over 7,500 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, DC; and an international presence in Beijing, Buenos Aires, Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Hong Kong, Karachi, London, Madrid, Manila, Paris, Sao Paulo, Shanghai, Singapore and Tokyo. CONTACT: Bear Stearns Hannah Burns, 212/272-2395 Mary Flounders, 212/272-4356 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion