/ Source: The Associated Press
Shares in casino gaming company International Game Technology opened sharply lower Friday amid broad concerns about the health of the gambling market on the Las Vegas Strip.
IGT shares fell 6.9 percent to $25.44 at the open. The stock fell as low as $24.76, its lowest point since May 2003.
A Key Banc Capital Markets analyst trimmed his estimates on three casino operators Friday, saying customers are cutting back on gambling in Las Vegas due to high fuel prices and economic concerns.
That followed an analyst for JPMorgan downgrading MGM shares to "Neutral" from "Overweight" Thursday and lowering estimates for companies operating casinos on the Las Vegas Strip.
