Resorts & Casinos industry news provided by Financial News USA (OTC: FNWU). NewMarket Technology, Inc. (OTCBB:NMKT) recently announced completing a customer project early that can in turn increase the Company's 2006 net profit. Additionally, the company recently announced an LOI agreement with Diamond I, Inc. (OTCBB:DMOI) to combine operations with NewMarket's Wi-Fi operations creating another NewMarket publicly listed subsidiary.
This year was a rollercoaster ride for Harrah's Entertainment Inc. (NYSE:HET) shares. Disappointing financial reports dragged the stock down sharply by mid-year, but shares rebounded sharply by year-end as Harrah's successfully negotiated one of the largest leveraged buyouts in history. Harrah's, the world's largest gambling company by revenue, reported a fourth-quarter loss in February on hurricane-related costs and writeoffs. Debra J. Nelson, MGM MIRAGE (NYSE:MGM) Vice President of Corporate Diversity, Communications and Community Affairs, has been named among Black Professionals magazine's list of "Top 100 Blacks in Corporate America." Nelson was selected by Black Professionals magazine based on criteria that included level of responsibility, commitment to the community, and accomplishments that demonstrate a high standard of excellence and innovation. A CIBC Capital Markets analyst on Friday said shares of casino operators should remain strong through the first half of 2007, but cut ratings for some operators based on share prices. Analyst David Katzcut Wynn Resorts Ltd. (Nasdaq:WYNN) to "Sector Underperform" from "Sector Perform," due to a recent run-up in shares. He also cited increasing competition ahead for the company in Macau, China, which is a growing and popular gambling area.
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