Gaming Roundup: IGT Earns a Hold
Capping off a ten week-long rally since its last earnings report, shares of slot king International Game Technology (NYSE: IGT - News) jumped 10% to a new 52-week high at $35.32 yesterday following its first-quarter earnings release. My colleague Nathan Slaughter went over the main figures yesterday (see IGT on a Winning Streak). Helping drive the stock was the quarterly earnings figure of $0.34
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Casino gambling facts:
- The most popular forms of illegal games are "numbers", which is essentially a lottery, and betting with bookies, typically sports betting.
- Nevada is the oldest and largest legalized gaming center in the United States. Gaming was legalized in Nevada in 1931 in the middle of the Great Depression as a form of economic stimulant.
- Gambling is defined by the Webster's New World Dictionary as the following: to play games of chance for money or some other stake, or to take a risk in order to gain some advantage.
- Pathological gambling is recognized as a medical disorder by the American Psychiatric Association and has elements of addiction similar to alcohol and drug addiction.
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