By Ian Neubauer
The share prices of three major Australian hotel and gaming companies dipped slightly today amid increasing fears of a US recession and the biggest weekly decline of the ASX 200 Index since July 2007.
The stock price of ALE Property Group, Australia’s largest listed freehold owner of pubs, fell 1.56 per cent from $3.79 to $3.75 per share. The dip was reflected in today’s buyback of close to 5 million shares — a marked decline since the last week of July last year when ALE paid investors $4.40 for its shares.
The Hedley Leisure and Gaming Property Fund saw a fall of 4.3 per cent as its share price plummeted 10 cents from $2.44 to $2.35.
The stock price of Aristocrat Leisure Limited, a leading global manufacturer of gaming solutions, fell 0.9 per cent in value, settling at $9.95 per share.