Tuesday, Nov. 5, 2002 | 11:05 a.m.
Jefferies & Co. gaming analyst Larry Klatzkin has upgraded his rating on slot machine maker Mikohn Gaming Corp. from "accumulate" to "buy."
The financially troubled company, which recently laid off employees, installed a new chief executive and is streamlining costs, had come under fire for being overly optimistic about its financial results.
Klatzkin noted that the Las Vegas company reported third-quarter cash flow figures "exactly in line with company guidance and our estimates, an unusual occurrence in previous Mikohn history."
He also is upbeat about the company's progress in obtaining approvals for new machines in Mississippi and Ontario, Canada, and for its new focus on striking partnerships to supply game titles onto other companies' technology platforms.
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