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Casino Shares Weak As Ivan Gains Strength

NEW YORK – As reported by the Associated Press: "Shares of casino operators moved lower Wednesday as Wall Street reacted to Hurricane Ivan, the latest storm of the season, poised to hit the Southeastern United States within the next 24 hours.

"Casinos along the Gulf Coast -- from riverboats floating on the Mississippi River to gambling halls in downtown New Orleans -- could suffer losses from both damage and lost revenue. Hurricane Ivan continues to churn toward land, triggering massive evacuations.

"Investors have sold off shares in a number of publicly traded companies with casinos in the region. The Dow Jones Casinos Index moved lower by 1.14 points to 394.78 in afternoon trading. The biggest pull-back came from companies such as Pinnacle Entertainment Inc., Penn National Gaming Inc., MGM Mirage Inc., Isle of Capri Casinos Inc., and Harrahs Entertainment Inc…"

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