Its funny you mention the installation of gaming down there....there was the same excitement about puting video gaming in at Saratoga NY, big fight between the NYS Racing Association and the owners up there as to whether or not it was a good idea to put in the slots - afraid it woud take away from the track. There was a draw to the video gaming at first, but now no one talks about it, and interest in it has died off drastically.
Setting up nicely, gentlemen. If it breaks below $79 today, I will be very optimistic about a big gap down, especially if we get any broad market weakness. This one gapped up so hard, the only floor for it is the longshot prospect of an ENTIRE LBO of MGM, and not a piecemeal liquidation of its crown jewels, IMO. *there it goes, $79 support taken out. A dollar and fifty per day down since the rumor dump by Kerkorian.
A massive news dump by Kerkorian hiring USB to explore a break up and sell off of MGM, and the stock still heads lower, on a day when the markets are bouncing up. Nothing like fading a 28% one day gap up. 76.33 -0.43 -0.56%
dj8899, re:05-22-07 07:03 PM Somebody please explain how the stock price jumps 25%, yet according to bloomberg the credit default swaps soared from 30k to 184k Nice, crisp analysis from you guys. Can you tell me dj if there is any place (site) where one can get info re CDS, such as you've presented here, other than Bloomberg. Is there a "publc" site? My guess is no but I thought I would ask. TIA lj
Thanx boyz - I got the message. My extremely accurate volume indicator predicts, at some point, a high above today's high. lj
I think you are right on about market saturation but what do you think about the corporate transformation of Las Vegas and casinos by the likes of Steve Wynn. I'm not too knowledgeable in casino biz but I would think that their revenue stream is more diversified now as entertainment & service rather than pure gambling house edge.
I am pretty sure most of majors make > 50% of their profits from non-gaming revenues at their properties. There is one exception and thats when I happen to be in Vegas and lose my ass to the house. I think on those days its the other way around.
Does this also mean that slots and poker are now at Hollywood Greyhound Track and at Dania Jai-Alai ?
Yep. Hollywood renamed itself Mardi Gras Race Track and Gaming Center http://www.playmardigras.com/ and the Jai-Alai fronton is http://www.dania-jai-alai.com/ From what I hear and I kid you not, the most successful of the four is the old Pompano Park harness track. http://www.theislepompanopark.com/