Las Vegas Weekly

October 29, 2008 · 7:41 AM

Wall Street bracing for resorts reports

By Robin Leach

Executives at both MGM Mirage and the Las Vegas Sands -– parent of the Venetian and Palazzo resort casino hotels -- will report to Wall Street investors and stockholders at 1 p.m. Pacific Time today (Wednesday) when the market closes.

Stocks at both properties –- along with other gaming entities including Wynn and Boyd Gaming –- have been decimated in recent days with prices tumbling in free-fall below $10 a share. Some traded, just months ago, way above the $100 level earlier this year!!!

Traders and bankers will be listening in on the live Internet feeds of the 3rd quarter earnings report and will then fire questions at the battered business bosses about the Vegas economic picture and turnaround recovery predictions.

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