Susquehanna drops gaming analyst
Wall Street’s gaming analyst community shrunk by one last week.
According to sources, Robert LaFleur let go by Susquehanna Financial Group.
In late Friday afternoon email, Susquehanna told investors it was immediately discontinuing coverage of the gaming, lodging and leisure sectors, “due to the departure of the analyst from the firm.”
LaFleur had provided financial analysis on 17 companies, including the major casino operators and slot machine manufacturers. He was the only analyst charting weekly hotel-room rate fluctuations from MGM Mirage’s CityCenter, looking at Aria, Vdara and Bellagio.
Friday morning, LaFleur published his weekly room rate tracker, commenting that a more detailed report would be released Tuesday.
Six hours later, Susquehanna released a brief research note, saying, “Going forward, investors should no longer rely on our last published rating or estimates when considering an investment in these companies.”
Several gaming analysts said the announcement was a surprise and had no inkling that a change was about to take place.
Sources said another analyst would replace LaFleur.