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Merrill Lynch Downgrades Argosy28 May 2003NEW YORK – As reported by the Business Week: "Merrill Lynch downgraded Argosy Gaming to neutral from buy. "Analyst David Anders says it appears as though momentum for positive legislative changes in Illinois has dwindled, while the potential for a rise in gaming taxes has increased significantly. He notes Argosy generates roughly 35% of its EBITDA in Illinois. "On Tuesday the state's Housing Gaming Committee recessed for legislative session after repeated warnings by the Governor to veto any legislation expanding gaming in Illinois…" |