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Casino Stock Winners and Losers: Ameristar

Ameristar Casinos and Boyd Gaming are downgraded by JPMorgan.

Ameristar Casinos



Boyd Gaming


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


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


was up 8.3% to $5.64.

Wynn Entertainment


was up 5.9% to $33.28.

Melco Entertainment Group


was off 1.7% to $4.70.

Penn National Gaming


was down 1.2% to $27.23.

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