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Casino News on Wednesday, October 28, 2009

WRAPUP 2-Casino profits disappoint and outlook stirs fears

LOS ANGELES, Oct 27 (Reuters) - Weakness in two of the world's largest gambling destinations -- Macau and Las Vegas -- and fears that casino visitors' spending will not bounce back for the rest of this year left shares across the entire sector broadly lower on Tuesday.

Yahoo! BuzzQuarterly results and outlooks at Las Vegas-based casino operators Wynn Resorts Ltd ( WYNN - news - people ) and Boyd Gaming Corp ( BYD - news - people ) disappointed investors, battering shares at both companies and sending tremors throughout the sector.

In addition, privately held Harrah's Entertainment ( HET - news - people ), the world's largest casino operator and owner of Las Vegas resorts such as Caesars Palace, said its third-quarter revenue fell 13.7 percent and property earnings dropped 12.2 percent.

Wynn posted better-than-expected quarterly earnings on Tuesday, but the results still disappointed some investors and a downbeat outlook distressed others.