'Missouri is not too different from the rest of the country,' says Martha LeMond, chief financial analyst for the Missouri Gaming Commission.
Most Missouri casinos are exhibiting the same trends as casinos in Las Vegas and Atlantic City with declining visits and shrinking consumer spending. The S&P 500-stock index was down 39 percent. The debt-drenched industry is so weakened that credit-rating agencies say any chance of a turnaround won't come until late 2009 or early 2010.Įach of the four publicly traded companies owning Missouri casinos suffered stock price declines of 60 percent or more for the 12 months ended Jan.
19, 2009 - Forget the outdated notion that the casino gambling business is recession-resistant.
