Resorts & Casinos industry news provided by Financial News USA (OTC: FNWU). NewMarket Technology, Inc. (OTCBB:NMKT) CEO Philip Verges will be featured tomorrow on Market News First (www.mn1.com) for an exclusive audio and video interview with the MN1 news team. The interview is scheduled for Dec. 15, 2006, at 9:30 AM CST. "NewMarket's most recently announced planned combination of its WiFi's investments into Diamond I (OTCBB:DMOIE) further validates our confidence in reiterating our Outperform rating and price target of $0.78 on NewMarket's stock."
A special board committee of casino giant Harrah's Entertainment Inc. (NYSE:HET) ended a meeting Thursday without announcing a decision on whether it will back a multibillion dollar buyout offer, according to a person close to the matter. The special committee, comprised of all 11 members of the board except chairman and chief executive Gary Loveman, had been meeting in New York since Wednesday to weigh any offers it received by the end of Tuesday. Calyon Securities analyst Smedes Rose hiked his price target on MGM Mirage Inc. (NYSE:MGM) on Thursday to reflect new development projects the casino operator is undertaking. Rose raised his price target to $61 from $49, saying that MGM is shifting its focus to projects that will likely improve international exposure and leverage its brands. "Although at the high end of historic ranges, we view higher valuation as sustainable given development projects as well as an increasing pipeline of low capital, fee-generating projects," Rose wrote in a client note. Two casino companies in Atlantic City and the New Jersey Transit signed a contract on Thursday, finalizing train service between New York and the second-largest U.S. gambling market, a spokesman for one of the companies said. "This will help us attract customers who haven't yet visited Atlantic City," said Michael Facenda, a spokesman for the Borgata Hotel Casino and Spa, a joint venture between Boyd Gaming Corp. (NYSE:BYD) and MGM Mirage (NYSE:MGM).
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