Sector Glance: Casino Operators Mixed
Shares of casino operators were mixed Monday as an analyst upgraded Isle of Capri Casinos Inc. and another raised his first-quarter earnings estimate on Wynn Resorts Ltd.
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Interesting gambling information:
- Bingo as we know it today is a form of lottery and is a direct descendant of Lo Giuoco del Lotto d'Italia - the Italian National Lottery organized in 1530.
- As early as 1420, lotteries were used in Europe for public works. High-value commodities such as land and art were often sold through lotteries.
- The El Rancho Casino & Hotel in Las Vegas was known for a few firsts. It was the first casino/resort on the Strip opening in 1941 with 63 guestrooms. It was also the first to offer a buffet. The cost of the buffet was only $1.00! The El Rancho burned down in 1960 and fortunately no one was hurt.
- Video Poker machines were introduced in the 1970s, when an oil embargo had a negative impact on Vegas revenues. The machines were popular enough to spark a recovery in casino business.
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