Despite Strength in Casino Stocks, Ameristar (ASCA) Sinks Amid Downgrade

Shares of Ameristar Casinos (Nasdaq: ASCA) are falling today amid an analyst downgrade over at Sidoti & Co. The firm moved its investment rating on the casino operator from Buy to Neutral.

Ameristar's stock most recently traded at $19.74, down about 5.5% from Friday's closing price.

Today's downside move comes despite strength in the broader casino sector, which is benefiting from news that Las Vegas Sands is planning a Hong Kong IPO for its Macau assets. Around the industry, Las Vegas Sands shares are up 16%, Wynn Resorts stock is up 11% and MGM MIRAGE is up 8%.

Ameristar Casinos, Inc. develops, owns, and operates casinos and related hotels in the United States.

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