Analyst worries Senate campaign tone will hurt Vegas

21 July 2010

LAS VEGAS, Nevada -- Could the toxic rhetoric of Nevada's U.S. Senate campaign be a detriment to how much Las Vegas residents might spend with local casino operators?

Deutsche Bank gaming analyst Andrew Zarnett believes this to be true.

He told investors Tuesday the negative tone from the campaigns of Senate Majority Leader Harry Reid and his Republican challenger, former Assemblywoman Sharron Angle, could hurt casino spending by Nevadans.

On Monday, the campaigns traded heated comments over June's unemployment figures, 14.2 percent statewide and 14.5 percent in Las Vegas.

Zarnett said the drumbeat of the election highlights the state's record unemployment and a worsening Nevada economy.

"We see no upside to a harsh campaign that reinforces the poor condition of the local economy and aggressively reminds residents of the economic crisis that afflicts their economy," Zarnett wrote in a research note. "We believe this may add to the negative impact on the Las Vegas locals market."

Zarnett said Boyd Gaming, which derives about 45 percent of its overall cash flow from its locals operations, Station Casinos and Cannery Casinos, are the mostly likely companies to be affected.


Related Links
Nevada Gambling


Copyright GamingWire. All rights reserved.
Featured Vendors
Slot Machines Unlimited
DFI
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
DFI
The latest industry tech in slot and VLT motherboards, embedded systems, industrial panels
Casino Network
Casino City Press
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Broadband Hospitality
Bar Maid Corporation
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
Bar Maid Corporation
Clean and dry thousands of chips, dice and tiles per hour with the high-speed CHIP CHAMPION machine!
RSA Executive Search
Rymax Marketing Services, Inc.
RSA Executive Search
A Boutique Search firm specializing in the Recruitment of Hospitality and Gaming Entrepreneurs
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Gaming Tickets, Inc.
Betson Imperial Parts & Service
Gaming Tickets, Inc.
35 years in the gaming industry - premium quality slot tickets, lottery tickets on time under budget
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
TribalHub
TOP ONE TECH LIMITED
TribalHub
22nd Annual TribalNet Conference & Tradeshow Nov 8-11, 2021 Gaylord Texan Resort, Grapevine TX
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application


Your Guide to 15,446 Gaming Industry Suppliers