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Penn National Gaming (PENN -2%) CEO Peter Carlino weighs in on Las Vegas in the company's...

  • Friday, October 19, 2012, 12:58 PM ET
    Penn National Gaming (PENN -2%) CEO Peter Carlino weighs in on Las Vegas in the company's earning conference call (transcript), saying the gaming company doesn't see a "robust" recovery for the Strip. "Construction continues to move very slowly there, and general economic conditions for 2013 are going to be very similar to what we saw in 2011 and 2012." Though many sector names are increasingly plays on Macau, it's still a swipe at the industry from an insider.
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    Well, the slow pace of construction is part of the bull case for some analysts, since total rooms on the Strip are likely to stay flat for the near term. MGM is forecast to have a 94-95% occupancy rate in 2013-2014 by some analysts.
    19 Oct 2012, 01:26 PM Reply Like
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