The Casino Industry Insider - March 4, 2008

Mar 4, 2008 7:00 AM

The Insider by Ray Poirier | International Game Technology (IGT) says it plans to invest more than $1 billion over the next five years on research and development in order to maintain its substantial market share lead in the industry.

Also, IGT announced it would pay a $0.14 per share regular quarterly dividend on April 2 to shareholders of record on March 19.

Boyd Gaming Corp. (BYD) will open its second hotel tower at the Borgata Hotel Casino & Spa in Atlantic City in June.

Analysts at Goldman Sachs cut the earnings outlook for MGM MIRAGE Inc. (MGM) to $1.95 per share for the year 2008 from the previous $2.55 per share.

Brean Murray analysts have downgraded the shares of Isle of Capri Casinos Inc. (ISLE) from a "buy" to a "hold."