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by: Gene Koprowski.
Stock market shares of Gulf Coast casino operators were bolstered this week as fears about damage from Hurricane Gustav faded. Investors pared those gains later in the day after stock market analysts said closures may put pressure on earnings estimates.


The stocks also got an early boost from a sharp drop in oil prices, although those prices regained some ground later in the session.

KeyBanc Capital Markets stock market analyst Dennis Forst said preliminary reports have demonstrated that Gustav did little real damage to casinos in Louisiana and Mississippi.

The researcher said even major hurricanes, like Hurricane Katrina, generally do not have a significant long-term impact on the fundamentals or valuations of gambling companies.
Oppenheimer & Co. analyst David Katz, though, said he believes the hurricane to have a negative impact on estimates for the current quarter.

Thomas Weisel Partners analyst Jake Fuller said he believes casino closures to put pressure on earnings estimates for Boyd Gaming Inc. and Pinnacle Entertainment Inc..

Here is the latest look at how casino operators affected by Hurricane Gustav cashed in on Tuesday:
* Pinnacle Entertainment Inc., up 38 cents, or 3.4 percent, to $11.47.
* Isle of Capri Casinos Inc., up 11 cents to $7.27.
* Penn National Gaming, up 5 cents to $33.87.
* Boyd Gaming Inc., up 21 cents to $12.40. 



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