report on short interest in casino stocks, we noted a drop in short interest at one company that makes gaming machines, International Game Technology (NYSE: IGT). In addition to slot machines, IGT — like competitors Bally Technologies Inc. (NYSE: BYI), Boyd Gaming Corp. (NYSE: BYD), WMS Industries Inc. (NYSE: WMS) and Shuffle Master Inc. (NASDAQ: SHFL) — is preparing for an expected legalization of online gambling. Zynga Inc. (NASDAQ: ZNGA) and its play-for-fun casino games at Facebook Inc. (NASDAQ: FB) also figure in the mix.
So far four companies, including Bally, IGT and Shuffle Master have received licenses to operate online gambling in Nevada. Today Bally was upgraded to Buy at Brean Murray, not least based on the company’s positioning in what many believe will be a $5 billion online gambling industry by 2015.
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