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Article: Investment firm lowers rating on Wynn Resorts.

Article from:
Las Vegas Review-Journal (Las Vegas, NV)
Article date:
May 10, 2005
Copyright

Byline: Rod Smith

May 10--Goldman Sachs Group on Monday downgraded its rating on Wynn Resorts Ltd., citing jitters about the gaming industry in general and the owner of the Strip's latest megaresort in particular.

"From a coverage standpoint, this is our least-favorite industry and we want to reduce our exposure to (the gaming) sector," Goldman Sachs gaming analyst Steve Kent said in an investor advisory that lowered the company's rating on Wynn Resorts stock to "in line" from "outperform."

Kent declined to explain his concerns about the gaming industry.

The Wynn Resorts downgrade didn't seem to dampen the day for Las Vegas-based ...

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