Gaming equipment companies head lower in quarter

Gaming equipment makers rely on casinos to order new machines or replace existing ones. With consumers tightening their pursestrings due to diminishing credit, increasing food and fuel costs and the ongoing housing downturn, casinos are less likely to make such orders or replacements unless there is a need to do so.

Among the biggest decliners for the period from June 30 to Sept. 29 was Elixir Gaming Technologies Inc., whose stock fell 77.5 percent. The company announced in August that Chief Financial Officer David Reberger resigned to pursue other opportunities but would remain as a consultant for the rest of the year. It also posted a wider quarterly loss.

Shares of International Game Technology, which is in the midst of a patent dispute with Bally Technologies Inc., fell 32.7 percent. Bally's stock dropped 22 percent, while Scientific Games Corp. slipped 26.1 percent for the period.