Friday, June 25, 2010
Top Casino Support Stocks
One way to play the gambling industry is to buy casino stocks. Another way is to buy the casino support companies. These are the businesses that provide slot machines, equipment, supplies, software and services to casinos. By the way, the casino industry prefers to call it 'gaming' instead of 'gambling'. I don't like that word because when I read the words 'gaming industry', I don't know if they are talking about the 'gambling industry' or the 'video gaming industry'.
Several casino support companies are publicly traded. WallStreetNewsNetwork.com has just updated their list of all the major casino companies and casino support stocks, along with their financials.
One example is Bally Technologies, Inc. (BYI) has a very reasonable price to earnings ratio of 17.3 and forward PE of 13.8. The company makes and markets gaming devices, and computerized monitoring, accounting, and player-tracking systems. The stock has a reasonable PEG ratio of 1.03..
Another casino supporter is International Game Technology (IGT), which designs, makes and sells electronic gaming equipment and systems. The company was recently the recipient of two awards, the 'Slot Provider of the Year' Award and the 'Employer Above and Beyond Award' for Exemplary Guard and Reserve Support. In addition, the company's CEO was named to the Board of Yahoo (YHOO). The stock has a PE of 39.6 and a forward PE of 15.9, with a PEG of 1.32. In addition, it pays a yield of 1.3%.
For a list of all the top casino and casino support stocks, including some that pay dividends of 1.2% and greater, go to WallStreetNewsNetwork.com.
Author owns YHOO.