The release of news from casino operators of tighter spending and good control of costs has seen the stocks of gaming companies in August. Despite no reports of increased revenue, investors are buoyed by the news of companies finding a better financial position, and are returning to the market anticipating that the global financial crisis will be over soon and profits will return eventually.
shaking.
MGM Mirage announced to investors that they had lost $212 million in the quarter by have found $600 million in cost savings. It's stock has risen by 30 percent in August. Las Vegas Sands and Wynn Resorts, which have posted no better results also saw a share increase of 47 percent. International Game Technology, Bally Technologies and WMS Industries rose 18 percent and 25 percent due to increase opportunities in gaming expansion around the world.