GROWTH OF GAMING WIN THROUGH JUNE SLOWER THAN IN THE PAST

Implications: There is, from time to time, certain off periods for any business. Generally speaking, most other businesses don't always recover that quickly. The casinos, on the other hand, have a tendency to find ways of restoring their business in a sensible time frame. To be concerned about Nevada and it's very solid gaming industry is a bit premature to say the least.

Analysis: When different and assorted analysts take a view of Nevada gaming, there is a strong likelihood that Las Vegas will stand out.  When you combine the other major gaming area's in the state it maybe easy to see why the total state gaming revenues may be slightly off kilter. Please keep in mind that Reno and Lake Tahoe and Laughlin are another type of business entirely. They do a different and less high end style of gaming. This is not to say that Las Vegas does not have it's share of local and less high end guests. The Las Vegas attendance by old and new customers keeps increasing. There should be very limited concern because revenues do not quite come the same as prior quarters or previous years. The Las Vegas area has seen some very solid business in the past quarter.

There are many factors that should be taken into account prior to worrying about a small percentage of drop in revenue. The local markets have taken a small hit as they have in the past. Their revenue picture is usually terrific. When you combine that with the above mentioned cities it not a big deal to see some drop in customer spending and attendance. Why the concern at this time? If you take a serious look at what is happening in Nevada it's not to far fetched to see that it is only a temporary set back. I am not sure the the phrase "set back" is a fair label to be place on this happening, but for a lack of better phrase, I will let it stand.

The reality of it all is that things in Nevada gaming are just fine. With all the new construction in both casinos and the emergence of the high rise condo market - there is a very bright future for Nevada. Those companies with properties in Macau have show some very serious profits. This, unfortunately, does not show up into the Nv general picture. It does however, make these few companies stronger than ever. It's time to sit back and let the industry improve by it's self, without any panic in the hearts of the the Market or the Investors. The future is strong, viable and dynamic. ..................