LAS VEGAS-A gaming index that tracks the daily average share price of nine public gaming companies important to Nevada declined for the first time in six months in February. Brian Gordon, a principal with locally based Applied Analysis, which maintains the index, tells that the recent stock market correction had little effect on the results because it occurred late in the month, but likely will hold the index down this month.

“We likely will see the index in March remain down to flat given the market’s performance,” he says. “Las Vegas Sands and Wynn Resorts will likely dictate the performance of the index in March because some of the other players within the index–Harrah’s and Stations–will have price points that remain flat due to pending transactions.”

The index was launched in 1998 with a value of 100. February’s 1.5% (7.6 points) decline to 494.21 is largely attributable to the drop in valuation by Las Vegas Sands (LVS), which maintains a larger-than-average weighting on the overall index given it high market capitalization relative to the other companies in the index, Gordon says. The company’s share price posted an all-time-high share price on the first day of February at $105.7. It closed the month at $86.3, a decline of more than 18%.

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