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Gambling Business Won?t be The Same for Years to Come
Submitted by Guest on Wed, 11/19/2008 - 23:14.
<!----> <!--paging_filter-->LAS VEGAS (AP) -- Executives at top casino companies said Wednesday that the gambling business won't be the same for years to come, with operators and manufacturers shifting to focus on properties that already exist, not ones that they want to build.
Loveman told other casino operators at an industry conference that Harrah's, its competitors and other businesses may have to change how they work -- particularly how they finance development -- for the rest of his professional life.
By The Associated Press The Dow gave up 427.47 points, or 5.07 percent, to 7,997.28.
The S&P 500 slipped 52.54 points, or 6.12 percent, to 806.58. The technology-heavy Nasdaq composite index fell 96.85 points, or 6.53 percent, to 1,386.42, while the Russell 2000 index of smaller companies gave up 35.13, or 7.85 percent, to 412.38.
Light, sweet crude for December delivery fell 77 cents to settle at $53.62 a barrel on the New York Mercantile Exchange.
In other Nymex trading, gasoline futures slipped about 3 cents to settle at $1.107 a gallon. Heating oil rose less than a penny to settle at $1.7597 a gallon while natural gas for December delivery jumped 22.7 cents to settle at $6.743 per 1,000 cubic feet.
In London, January Brent crude fell 12 cents to settle at $51.72 on the ICE Futures exchange.
