Shares of Gulf Coast casino operators got a boost Tuesday as worries about damage from Hurricane Gustav receded, although investors pared those gains later in the day after analysts said closures may put pressure on earnings estimates.The companies’ 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 analyst Dennis Forst said preliminary reports have indicated that Gustav did little physical damage to casinos in Louisiana and Mississippi.

He 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, however, said he expects the hurricane to have a negative impact on estimates for the current quarter.

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

Here is a look at how casino operators affected by Hurricane Gustav fared 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. Top of page

CNN Money