Los Angeles - Casino operator Wynn Resorts Ltd said on Monday it has commenced a public offering of 7 million shares of its common stock. Wynn said it intends to use the proceeds for general corporate purposes, including repayment of debt. The company, based in Las Vegas, said it would grant to Deutsche Bank Securities Inc and Merrill Lynch & Co an option to purchase up to an additional 1.05 million shares.

(Reuters) - Citigroup initiated coverage of Wynn Resorts Ltd with a "sell" rating and a price target of USD 29, and said it does not see any catalysts for the stock until the second half of 2009. "Although we believe Wynn is the best positioned U.S. (casino) operator in Macau, the opening of Encore in Las Vegas, visa issues and commission caps in Macau leave many landmines in the road ahead," analyst Anil Daswani said in a note to clients.

Shares of casino operator Boyd Gaming Corp. slid to an all-time low last week as an analyst trimmed some adjusted earnings forecasts on the likelihood that gaming revenue results will not improve until 2010. Boyd Gaming slides to all-time low as analyst reduces estimates, predicting weak revenue. Jeffrey Logsdon of BMO Capital Markets said 2009 looks to be difficult for Las Vegas-based Boyd, partly due to weakness at facilities in its central region and properties where Las Vegas locals play.

Kangwon Land, the operator of South Korean only casino open to local citizens, dropped by its daily trading limit in Seoul trading ahead of an announcement of the government’s plan to control gambling. Kangwon Land dropped 15 %, or USD 1,418 to USD 8,131, as of 10:26 a.m. local time, the most since September 2. The benchmark Kospi stock index declined 1.5 %. The government plans to limit total annual revenue of the gambling industry, including horse racing, lottery tickets and casinos, to 0.58 % of gross domestic product...

New York (AP) -- Shares of Trump Entertainment Resorts Inc. continued to drop on Tuesday after the New Jersey Casino Control Commission reported that Atlantic City gambling revenue dropped 10 percent in October. Trump shares fell 6 cents, or 11.1 percent, to close at 48 cents Tuesday, after touching an all-time low of 47 cents earlier in the session. The stock has traded between 50 cents and USD 6.65 during the past 52 weeks. Since the beginning of the year, Trump shares have lost 87 percent of their value.

Aristocrat Leisure, the world's second-largest maker of slot machines, fell the most in more than five years in Sydney trading after cutting its annual profit forecast as much as 40%. Aristocrat fell 28% to AUD 3.94 in Sydney, the biggest decline since May 27, 2003. The drop erased AUD 710 million of the company's market value. Aristocrat, whose chief executive officer quit last month, is struggling to find buyers for new games...

New York (AP) - Shares of casino operators tumbled Monday -- several to new multiyear lows -- as jittery investors watched Wall Street and global markets slide on fears the financial crisis is spreading. The markets have realized that the USD 700 billion rescue plan won't work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.

New York (AP) -- Shares of casino operators slid Monday along with the broader markets as the House rejected the government's USD 700 billion financial bailout package. In late afternoon trading the Dow Jones industrials plunged as much as 705 points as investors worried the financial system would keep sinking under the weight of failed mortgage debt. The Dow did manage to regain some ground before falling backing again, trading down 454.95, or 4.08 percent, to 10,688.18.

New York (AP) -- Casino operators' shares skidded Monday as investors questioned whether growing capital and liquidity concerns would hinder their financials and stifle their growth plans. Gaming companies hinge their success on continued growth, and many have started to falter as major projects unravel. The sector's stock fell more on Monday than the broader market, which was anxiously awaiting details about the government's plan to purchase USD 700 billion in banks' mortgage debt.

New York (AP) -- Las Vegas Sands Corp.'s flagging shares got a boost on Monday after an analyst said the casino operator's current stock price does not reflect its potential for growth in Macau and other international markets. Las Vegas Sands shares jumped USD 3.62, or 9.4 percent, to close at USD 42.20. During the past 52 weeks, the stock has dropped from a high of USD 148.76 in October 2007 to a low of USD 30.56 last week.

Shares of Isle of Capri Casinos slumped to a new 52-week low Tuesday after the casino operator reported it swung to a fiscal second-quarter loss, but some analysts remained upbeat on the company’s potential. Late Monday, Isle reported a quarterly loss of USD 24.6 million, or 80 cents per share. Excluding one-time items, the company posted a loss of 45 cents per share. Analysts polled by Thomson Financial expected a loss of 4 cents per share.

Niagara Falls - The Seneca Nation of Indians has not paid the state its share of slot machine revenue from last year, and some local leaders are getting anxious about when the money will arrive. The Senecas’ compact calls for paying the state 18 percent of net slot machine revenue on an “annual basis” for the first four years of casino operations, but it does not specify a date for the payments. That uncertainity has left city officials guessing when they will be able to spend their share.