Gaming is one of the best-performing sectors recently. Investors, Wall Street and private equity are all eyeing these – supposedly – recession-proof stocks. The constant cash flow is pretty attractive, too.
But what’s interesting is that casinos stocks seem to be on the rise despite some less than stellar earnings. CNBC's Jane Wells was on “Street Signs” with Erin Burnett. She pointed out that Stations Casinos is up 40% in the past month – helped in part by that buyout offer earlier this week – but that only a month ago the Las Vegas casino saw a 51% drop in quarterly earnings and lowered its outlook for 2007.