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November 29, 2009

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Brief: Downgrades for Anchor, Four Seasons

Tuesday, Feb. 2, 1999 | 10:39 a.m.

Anchor closed at $51.56 after Farley said results for Anchor's most recent quarter indicated some of the company's wholly owned games are maturing and some new games "won't be fully ramped up for the next 12 months," clouding the earnings outlook.

Farley downplayed any lasting impact from reports of a rift between game makers and casino operators over revenue-participation agreements, which have prompted some operators to consider designing their own games.

"At the end of the day," Farley said, "slot customers will decide which games they want to play."

In other analyst action, Jonathan Litt of PaineWebber Inc. trimmed his rating on Four Seasons Hotels Inc. to "neutral" from "attractive."

The stock of Four Seasons, which will open a 424-room luxury hotel and spa at Mandalay Bay next month, slid $1.19 a share, to $30.06, in Monday trading.

Argosy Gaming Co. stock rose 25 cents a share, to $3.69, after analyst David Anders of Credit Suisse First Boston Inc. raised his rating to "buy" from "hold."

Argosy, based in Alton, Ill., operates riverboats in the Midwest and reported more than $17 million in earnings in its most recent quarter compared with a loss in the year-earlier period.

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