Business: A Run of Bad Luck in Gambling Stocks

IN last summer's declining stock market, the shares of companies that own casinos in Las Vegas rose as high as gamblers' hopes. They have faded just as fast. A combination of boardroom battles, rumors of underworld links and Government investigations, reports TIME Correspondent Roger Beardwood from Las Vegas, have tarnished the investment luster of the gambling industry. The downward slide of casino companies' stocks has left many investors feeling as though they had fed the family fortune into a one-armed bandit.

"Skimming" Profits. The companies' winning streak started shortly after Invisible Billionaire Howard...

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