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The stock values of local gaming Industry’s three major casino companies i.e. Sand, Wynn and MGM Mirage fell marginally in the month of May. With this the price surge recorded a month earlier had come to an end.

According to the research done by the financial consultant Applied Analysis in Las Vegas, these price falls don’t affect their position with respect to the local slot casino machine providers and casino operators.

Applied Analysis, which monitors the daily share price of major casino companies and slot machine service providers in the local market, attributes this sudden fall to two events. A sense of insecurity may have prevailed among investors due to hedge fund’s purchase decision of a large pie of MGM Mirage stock and Las Vegas Sands revival of construction project at Macau’s Cotai Strip region after 18 months of discontinuing it.

Brian Gordon, a partner of Applied Analysis said the global market situations deeply reflecting in the European Financial disaster, affected the stock values in a negative manner during month of May. And the end result was a fall down in the monthly gaming index by 10 points to finish at 332.86.

“This condition is going to stay here forever and monthly earning reports of casino operators stated that the stock values are slowly reviving to normalcy. With several precautionary measures waiting to be implemented, these situations are going to be over in the mid session of 2010,” said Gordon to clients in a briefing.

Actually hedge fund bough over 40 million shares of MGM Mirage gaming console and became its second largest stockholder after company’s proprietor Kirk Kerkorian. Facing a net revenue fall in each year, the Boyd Gaming also sold 4 million shares to hedge fund.  These developments built up pressure on the investors in the gaming industry and resulted in a price fall.

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