Casino Stock Winners and Losers: Ameristar

Ameristar Casinos and Boyd Gaming are downgraded by JPMorgan.
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Ameristar Casinos

(ASCA)

and

Boyd Gaming

(BYD) - Get Report

were trading lower after receiving downgrades Tuesday morning.

Ameristar shares were trading at $13.73, down 2.8%. Boyd was down 3.6% to $6.62.

JPMorgan analyst Joseph Greff said he considers Ameristar's shares fairly valued after they have risen nearly 45%.

Greff also said the Las Vegas-based company stands to gain from budget-conscious gamblers opting to play closer to home during the recession and "more disciplined" promotions by rival

Harrah's Entertainment

.

Greff cut Ameristar to neutral from overweight but raised his price target to $14 from $13.

Boyd Gaming was reduced to underweight from neutral, as the company's stock has more than doubled since late February.

Elsewhere in the casino gaming sector,

MGM Mirage

(MGM) - Get Report

continued its rise, up 17% to $7.29.

MGM Mirage shares surged almost 18% Monday upon news that its lenders will let it cover its partner's half of a $70 million payment on the

City Center project

in Las Vegas and extend the payment deadline to Friday.

The payment on the project with partner Dubai World was due Monday.

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Las Vegas Sands

(LVS) - Get Report

was up 8.3% to $5.64.

Wynn Entertainment

(WYNN) - Get Report

was up 5.9% to $33.28.

Melco Entertainment Group

(MPEL)

was off 1.7% to $4.70.

Penn National Gaming

(PENN) - Get Report

was down 1.2% to $27.23.

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