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Casino Shares Fall

LOS ANGELES – As reported by Reuters: "Shares of casino operators Mandalay Resort Group(NYSE:MBG) and MGM Mirage (NYSE:MGG) fell 6 percent on Tuesday after Merrill Lynch downgraded ratings on concerns growth in the white-hot sector would slow.

"…CIBC analysts William Schmitt and David Katz in a note titled 'Valuations Ahead of Fundamentals' cut their view on the gaming sector to Market Weight from Overweight.

"…Shares of MGM fell $2.90 or 6.1 percent to $44.58, Mandalay dropped $3.54 or 6 percent to $55.33, Argosy dropped 77 cents or 2 percent to $36.77 and IGT fell $1.48 or 3.9 percent, to $36.96 on the New York Stock Exchange .

"Ameristar fell 83 cents or 2.5 percent to $32.75 and Isle rose 4 cents to $21.06.

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