7 Casino Stocks to Play
6. Ameristar Casinos (ASCA), a developer, owner and operator of casino entertainment facilities in the local and regional markets, has eight properties in seven markets. The company's operations include a variety of table games, including blackjack, craps, roulette and poker.
Total revenue increased $6.1 million to $308.7 million for the first quarter 2011. Net income during the quarter was seen almost doubling to $21.8 million or 37 cents per share, which compares to $10.7 million or 18 cents per share. Interest payments during the quarter reduced to $25.1 million from $34.4 million in the year-ago quarter. ASCA's earnings improved during the quarter, riding on lower interest expenses and cut back on promotional expenditure.
The company recently announced acquiring most of the stock owned by a charitable foundation formed by its late founder. Capital spending for the second quarter of 2011 is expected to range from $10 to $15 million. Cash dividend per share is pegged at 10.5 cents.
Of the 17 analysts covering the stock, 59% recommend a buy and 35% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 7.5% to $25.62 in the upcoming 12 months.Select the service that is right for you!
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