Empire Resorts (NYNY - Get Report) gained after the company said the Sullivan County, N.Y., legislature passed a resolution approving a local mitigation agreement between the county and the St. Regis Mohawk Tribe regarding a casino at Monticello Raceway. Empire operates the raceway and other gaming venues.
The agreement stipulates that the tribe will make annual payments of $15 million to the county to offset any potential impact from the casino.
"We believe there will be many substantial benefits to Sullivan County and the surrounding community from a casino and look forward to working with the local leadership to make this dream a reality," Empire said. Shares advanced 45 cents, or 7.6%, to $6.37.
Winnebago Industries (WGO - Get Report) reported lower third-quarter earnings, but the recreational vehicle maker still rose after beating Wall Street's expectations. The company posted earnings of $13.2 million, or 40 cents a share, compared with $17.6 million, or 52 cents a share, a year ago. The company said earnings were cut by 2 cents a share by option expenses.Sales dropped 13.6% to $220.3 million. Analysts were looking for earnings of 38 cents a share on revenue of $231.9 million. "Results for the third quarter and first nine months of fiscal 2006 were negatively impacted by a continued shift in product mix toward lower priced motor homes, as well as by lower motor home deliveries as a result of decreased industry demand," Chairman and CEO Bruce Hertzke said in a statement. Shares gained $2.65, or 9.3%, to $31.08. Benihana (BNHNA) was higher after the restaurant chain's fourth-quarter earnings rose. The company earned $3.9 million, or 35 cents a share, compared with $2.2 million, or 22 cents a share, last year. Revenue increased 11.8% to $61.2 million. Same-store sales rose 10%. Analysts polled by Thomson First Call were expecting the company to post earnings of 35 cents a share. For the first quarter, Benihana expects a profit of 37 cents to 41 cents a share. Wall Street is looking for 36 cents. Benihana climbed $1.72, or 7%, to $26.22.