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Analysts Views Changed on Casino Operators

30 July 2002

NEW YORK -- Several casino industry analysts have changed their ratings on major companies following the firms' recent second quarter earnings results.

Bear, Stearns & Co. analyst Jason Ader raised his rating on Argosy Gaming Co. from "attractive" to "buy."

Dresdner Kleinwort Wasserstein analyst Todd Jordan raised ratings on locals' casino operator Station Casinos Inc. and equipment maker International Game Technology. Station was raised from "add" to "buy" and IGT was raised from "hold" to "buy." Jordan downgraded Phoenix-based Aztar Corp. from "add" to "hold."

Jeffries & Co. analyst Larry Klatzkin upgraded Aztar from "hold" to "accumulate."

IGT was downgraded from "strong buy" to "buy" by analyst David Bain at the Seidler Cos.

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