Jason N. Ader, Smith Barney Shearson's gaming analyst, predicted earnings will jump 2.5 times to $1.20 a share next year, up from 48 cents in 1994.

A closer look at Las Vegas shows that the same strategy there ended up with what gaming analysts said were mixed results.

But some gaming analysts and casino operators doubt that Mr. Goldberg intends to build a casino in the Catskills.

"The market is quite vibrant," said N. Bruce Turner, a gaming analyst at Solomon Brothers.

Larry Klatzkin, a gaming analyst with Donaldson, Lufkin & Jenrette, predicted that profits would continue to rise.

"We're pleased that Governor McGreevey met with the gaming analysts," Mr. Gomes said.

"It requires - my word - a 'special' kind of person," said Michael Pachter, a gaming analyst at Wedbush Morgan.

"It's small and low key and has the ambience of an Old West city," said Sheila O'Connell, a gaming analyst at Duff & Phelps.

Dennis I. Forst, a gaming analyst with McDonald & Company Investments, has an "aggressive buy" posted for Hilton stock, which he said was "very cheap."

Thomas M. Ryan, a gaming analyst with Ladenburg, Thalmann & Company, said Gtech stock rarely gained momentum as a result of a new contract.