THE DOWN UNDER GAMING COMPANY IS LOOKING TO GET INTO THE LAS VEGAS CASINO MARKET THE EASY WAY

Implications: The Packer family of casinos are entering the Nevada casino  business. They have chosen a rather easy method of doing this. They purchased a very good local gaming entity - The Cannery and the Rampart are very secure in the local casino market. This can only enhance their future plans in this market area.......

Analysis: Where is James Packer heading with this entry into the Las gaming arena? It would seem to me that they are looking ahead to a time when they can buy and build their own property on a larger scale. The Packers seem to have an endless supply of dollars to invest in the gaming industry. It can only be a plus for Las Vegas and it gaming industry. Their entry will have a god feel for other properties as they will be good competition. It's good for all concerned.

Las Vegas has always prospered  with top notch competition - it seems to be the way of things here - remember what Steve Wynn did for this industry in 1989 with the opening of The Mirage - he made everyone sit and take notice. They said he could never make it with the costs associated with The Mirage - boy were they ever wrong. This may be what the Packers could bring in the future. It hard to tell what their exact plans may be however they are noted for not standing in place waiting for things to just happen - they are muck like Wynn in this respect.

Look for good things to come from this recent purchase. It's good for all gaming in Las Vegas.....