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twitterVegas company touted in Business Week
Friday, April 5, 2002 | 11:05 a.m.
Acres Gaming Inc.'s shares are poised to almost double in a year as the Las Vegas developer of electronic-gaming technology boosts margins, Business Week reported, citing analyst David Bain of Roth Capital Partners.
Shares of Acres Gaming, which closed at $5.35 Thursday and were up 16 cents this morning, should reach $10 in the next 12 months, Bain was quoted by the magazine as saying. Bain expects the company to earn 52 cents a share in fiscal 2002 on $31.3 million in revenue, according to the magazine.
Acres Gaming's electronic bonusing gear is used to deliver free show tickets, dinners and cash to casino gamblers. That helps casinos monitor gamblers' habits, the magazine said.
"It improves the casinos' efficiency and profitability," Joe Crivelli, portfolio manager at J.A.G. Funds, was quoted as saying. Crivelli bought Acres Gaming shares after Sept. 11, Business Week said.
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