NEW YORK
Casino operators and gaming equipment makers traded mostly lower Wednesday as voting results on a series of ballot measures affecting the industry appeared to be mixed.
Maryland residents approved an initiative allowing a casino at the Arundel Mills Mall. Wells Fargo
International Game Technology's stock dropped 6 cents to $16.10, while shares of Bally Technologies slipped 10 cents to $37.51. Shares of WMS Industries declined 46 cents to $42.81.
Penn National Gaming Inc.'s casinos in Charles Town and Perryville will be pressured by the competition, Santarelli explained. Shares of Penn National Gaming fell 32 cents to $33 in early trading.
Over in Oregon, voters rejected a proposal to build a casino in Multnomah County. Existing Indian casinos in the area opposed the potential new rival prior to Tuesday's vote. The measure was not expected to pass.
And across the country, Maine's ballot initiative that would put a casino in Oxford is too close to call, according to Santarelli.
"Should table games be permitted, we see a scenario in which Penn National Gaming could benefit from the proposal should it be able to also get table game approvals in time," the analyst wrote.
Elsewhere in the sector, MGM Resorts International's stock gained 65 cents, or 6 percent, to $11.80. The casino operator reported Wednesday that its third-quarter loss narrowed. Wynn Resorts Ltd. fell $3.15, or 2.8 percent, to $109.42. Wynn's third-quarter adjusted earnings met analyst estimates on Tuesday.
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