Goldman boosts rating of LV casino operator

Friday, Oct. 15, 1999 | 11:34 a.m.

Goldman Sachs & Co. gaming analyst Steven Kent raised his rating on Station Casinos Inc. stock to his "recommend list" from a "trading buy."

Analysts covering the company expect Station to report third-quarter earnings Monday of 29 cents a share, up sharply from the 8 cents a share it earned in 1998's third period.

Station's Las Vegas hotel-casinos, which serve the thriving locals market, make it a top pick for several gaming analysts. The company this week announced plans to build a $100 million casino in a venture with Indians near Sacramento, which should boost the company's revenues and could hurt Northern Nevada casinos.

Station stock was quoted at $23.75, down $1.50 a share in late-morning trading today.

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