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Still, many investors and analysts are eyeing Icahn's move closely. Some wonder if his move into the sector is a sign to start putting investment chips back on the table and roll the dice on companies with big exposure to the U.S. gaming market. "[Carl Icahn] has always been a very astute investor," concurs Clyde Barrow, a casino expert and professor at the University of Massachusetts at Dartmouth. "There's a lot of upside potential, and if you're investing for the long term, now is the time to buy." (See pictures of hard times in Las Vegas...
...definitely could be a sign that valuations are at or near record low levels," says Janet Brashear, a senior analyst at Sanford C. Bernstein & Co. However, she cautions it will likely be 2011 before the market stabilizes and 2012 before it rebounds...
...share, it's still far below its peak. Wynn Resorts (WYNN) and Las Vegas Sands have seen the biggest gains, with their stocks rising 296% and 842% respectively in the past 52 weeks. But their gains were driven largely by their exposure to the lucrative Macau market, where gaming has been on fire. Indeed, gaming revenue totaled $15 billion in Macau in 2009, which is three times Las Vegas' $5 billion, according to Brashear, and both Wynn and LVS relied on Macau for more than 60% of their earnings in 2009. "The expansion in Asia has been unbelievable," says Brashear...
...gaming stocks don't reflect any recovery in the U.S. market - at least not yet. This means stocks with big exposure to the U.S. gaming market could be poised to rally. How much and how fast this happens will depend on the speed and scope of the economic rebound. (See pictures of Las Vegas...
...massive military offensive there last month, they found 700 kg of raw opium and 25 kilos of heroin. Anywhere else in the world, that would have been a major drug bust, but for Marjah, it was mere crumbs. After all, when Afghan and U.S. counternarcotics agents raided the same market nearly a year ago, the haul was measured in tons, not kilos. But the Marines lacked the element of surprise; to minimize civilian casualties, U.S. and NATO commander General Stanley McChrystal had warned of the offensive weeks in advance. The drug traffickers and many of their Taliban protectors had cleared...