Since yesterday was a holiday, and as a test of
Leo from Italy's contention that a Denver Broncos'
victory would bring out the gamblers, I drove up to Black
Hawk to check out the Isle and to see how the
competition is faring.
The Isle is the first casino
you see as you enter Black Hawk, but it will
eventually lose that honor when the Riveria opens in the
fall. If one measures impressions by size, the Isle
will get favorable reviews. Compared to many other
Colorado casinos, it is large, although one woman said it
reminded her of a K-Mart.
The interior is large and
spacious, a pleasant surprise from the match book casinos
that frequently occupied turn of the century buildings
and were smoky, crowded and noisy. The Isle
advertises itself as the largest casino in Black Hawk, but a
shuttle driver told me that The Lodge Hotel and Casino is
larger. Suffice to say the aisles are wide, the size of
the room soaks up most of the noise and you don't
choke on cigarette smoke.
Aside from being
comfortable, the interior was bland, and one is hard pressed
to see the Carribean theme. This is not a place
that's going to get the "you have to SEE this place"
reactions from gamers. They were probably doing o.k. for a
Monday p.m. but it was a holiday. There were several
banks of machines that were unoccupied. I don't play
much anymore, but when I do, I favor video poker. They
have a nice selection of vid poker, but nothing that
blew me away.
I think the Isle must have
trouble attracting staff as I had to hunt around for a
change person. The line for the Cashier's Window
reminded me of one you would see at an airport during the
holiday season. And this was for a Monday. That's
something they'll have to work on.
primarily is a day tripper's environment and our slot
players are pretty value conscious. I heard grumbling
about the mediocre payouts at some of the slots at the
Isle. With SLOT's Colorado Central Station across the
street and The Lodge about one block down, I suspect
we'll see gamers sampling all three. Colorado Central
Station was pretty busy so it doesn't look like the
competion from the Isle or The Lodge is hurting them too
much. The Lodge is by far the nicest of the three
casinos and was also fairly busy (although I had to
supply them with a finger print to cash a AMEX
traveler's cheque-what is the world coming to).
will be a month or so before we get the January
statistics from the Gaming Division, but the new larger
casinos seem to be having a positive impact. November AGP
year over year was up 19 percent in the state and 20
percent in Black Hawk. I just wonder if the market will
grow large enough to handle all of the new supply
that's coming on line. Time will tell.
Issue of the Week -
In The Crisis of Global Capitalism Soros dissects
the current state of the global economy and reveals
how theoretical assumptions have combined with human
behaviour to lead to today's calamities. He shows how
unquestioning faith in market forces blinds us to crucial
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financier and philanthropist, The Crisis of Global
Capitalism is essential reading for anyone involved with the
new economy - that is, all of
Issue of the Week
Legislative Agenda of the 106th
Monday, January 25, 1999
Tuesday, January 26, 1999, 7:51 am EST
Introduces Motion To Dismiss
As senators from both
parties struggled with the question of calling witnesses,
a senior Democrat Monday introduced a motion asking
the Senate to dismiss the perjury and obstruction of
justice charges against President Clinton and end his
Chief Justice Rejects Harkin's
A day after Monica Lewinsky was interviewed by
House impeachment prosecutors, Chief Justice William H.
Rehnquist rejected on Monday a Democratic senator's bid to
stop such meetings.
Casino Players � ByVolume
Kansas City has a lot riding on Trump bid for Flamingo
By RICK ALM - The Kansas City
Date: 01/25/99 22:15
Name a building in New York
City. There's a fair chance Donald Trump owns it.
Name a casino in Atlantic City. Ditto.
ShirleyLovelace> We bought this stock and have debts like others.
Don't forget to warn us about this stock if you feel it
is time to get out.
One personal question;
are you from West Virginia?
Liquidity and Capital Resources
At October 25, 1998, the Company had cash and cash
equivalents of $56.5 million compared to $44.4 million at
October 26, 1997. The increase in cash is primarily a
result of increased cash flows from operating
activities. During the six-month period ended October 25,
1998, the Company's operating activities provided $37.0
million of cash compared to $30.9 million of cash used in
operating activities in the first six months of fiscal
The Company invested $53.8 million in
property and equipment in the first six months of fiscal
1999, primarily for the development of the Isle-Black
Hawk, which is currently under construction and
scheduled to open in late 1998 or early 1999. Additionally,
the Company has also incurred capital expenditures
related to the construction of a 305-room all suite hotel
at the Isle-Bossier City and a 124-room hotel at the
Isle-Vicksburg, which are expected to open in the spring of 1999.
Goldstein Family Equity Purchase and Rights
On March 11, 1996, the Company sold an aggregate of
1,020,940 shares of its Common Stock, at a price of $5.875
per share, to Bernard Goldstein, the Chairman and
Chief Executive Officer of the Company, and three
members of his family (the "Goldstein Family Equity
Fiscal Year Ended April 30, 1996
Quarter.................... 17.50� 13.25
Quarter................... 16.00� 6.50
Fourth Quarter................... 8.38�
Insiders are still buying.
1073 REASONS TO BUY�Jan
13 1999, 5:40PM EST, ShirleyLovelace
Wasserstein Perella Securities, Inc. Equity Research Note�Jan
13 1999, 5:39PM EST, ShirleyLovelace
ByVolume: At this price it is a turnaround situation. Based
upon data available we should continue to see a very
gradual up move. Rest assure the volume will increase to
nearly 250,000 per day (1% of the float) indicating last
stage of accumulation. Distribution generally occurs
with volume exceeding million shares a day. This is a
general pattern of accumulation and distribution. Looking
at GLM stock graph, and reading that message board,
you can see how excited the gang gets, every time
their stock move up a little. The psychology on our
message board is just the opposite. Every time stock goes
down, we all feel it is going back to the bottom. After
reading above �Liquidity and Capital Resources� the tide
ShirleyLovelace> One personal question; are you from West
ByVolume: Yes I am from West Virginia, and I hope to be
Thanks for the complement; you must have been
drinking good vintage wine. My husband insists on keeping
the lights off! Sometimes I wish I had her bank
account. You should wonder that when I am through teaching
school and taking care of my children at home, how I can
have the time to moonlight as a super model.
bought this stock and have debts like others. Don't
forget to warn us about this stock if you feel it is
time to get out.
One personal question; are
you from West Virginia?
"ByVolume: In Hong Kong, they use the Oxford
Dictionary - not Webster�s. Any place where folks gather to
play cards or mahjong (Chinese game) is called a
gaming club. Hong Kong is very crowded
and in the
evening, folks go to private clubs for recreation. Stocks
of these clubs are sold in the �B� group and are not
ADR. These stocks are called �gaming stocks� and can
be purchased through the International Brokerage
I am still waitng for Lim
First: Is gambling legal in HK? The race tracks (two, in
case BV does n't know) and mahjong clubs, yes. But
casinos? Those mahjong club are mom-and-po operations.
Give me names of those that are traded (if any).
With the Red Chinese influence taking place long
before the '97 handover and increased trade between HK
and US in the last 30 years, it has been Webster not
Oxford a long time ago! Check the news more often, will
"B" group, what are you talking about?
Give me some names, if you know any.
..Well, there are very, very, very few ADR"S. Maybe HKT
Anyway, check South China Morning Post
before post anything about HK stocks.
BV, I am
still waiting for Lim Tung to give me some gaming
stocks traded on te HKSE.
BROTHER, CAN YOU SPARE A DIME? �
They used to tell me
I was building a dream.
so I followed the mob
When there was earth to
Or guns to bear
I was always there
They used to tell me
I was building a
With peace and glory ahead.
Why should I be
standing in line
Just waiting for bread?
built a railroad
I made it run
Made it race
Once I built a railroad
Brother, can you spare a
The customer margin debt (mil $) Nov 138,740.
(Barron�s January 18, 1999)
What this means is that
everyone is up to their neck in debt. Generally the Bear
Markets start under similar circumstance.
a warning for all those who have a lot of margin
debt and continue to buy on dips. Recent market
activity is not in a small dip, but it is in a real down
turn especially for stocks with high PE.
ByVolume: Historically the markets have proved that even
the best forecasters are wrong at the top. Abbey
Cohen & Ralph Accumpura could be wrong. It is your
money so be careful. Even though I give a rosy picture
on the ISLE message board, I sell other stocks
short. On other message boards I am a gravedigger. The
reason we get these clowns coming to ISLE message board
is to take revenge with me. Just like there is short
squeeze, on the flip side there is front running. Brokers
know from their database that margin players have to
sell, so they sell before you. In the end customers get
I wish you all good luck, but I
would like you to remain alert. There is no reason that
anyone on this message board who reads all the
information provided should lose. If you have to sell mutual
funds please don�t wait till the last hour. There are a
lot of complaints from Internet stockholders how they
are getting wiped out. Many times you may not be able
to get on the Internet or on the telephone to
execute your objective to sell securities. Once again be
Joan Crawford & Cindy Crawford -
Matthew by: ShirleyLovelace (27/F/WA) ISLE message 1130
My husband bought the Capri stock after
we received a research report from Perella. Even if
this is not a takeover company, it could still go up
on earning alone.
Posted: Jan 20 1999 4:23PM EST as a reply to: Msg 1128 by
Joan Crawford & Cindy Crawford
ByVolume: Looking at ISLE message 1123 the person is not an
Isle of Capri investor. He is from GLM message board.
He is trying to get over his frustration from the
losses incurred from other investments. This message
speaks for itself. It is always wise to show some
compassion and understanding for them; otherwise we will get
more stupid and irrelevant questions.
ByVolume: In Hong Kong, they use the Oxford Dictionary -
not Webster�s. Any place where folks gather to play
cards or mahjong (Chinese game) is called a gaming
club. Hong Kong is very crowded and in the evening,
folks go to private clubs for recreation. Stocks of
these clubs are sold in the �B� group and are not ADR.
These stocks are called �gaming stocks� and can be
purchased through the International Brokerage
Let us read the following message:
message 1798 Pro Charts & Margin Calls � ByVolume
20 1999, 3:42PM EST, ByVolume
evaluate airline and oil-related investments, which are
not doing well. Please stay away from these laggard
groups. Buying weak groups on dips is the biggest mistake
an investor can make.
ByVolume: Looking at
the above investors reminds me of Joan
ByVolume: ShirleyLovelace has the right concept of
investment; her contribution to this message is very helpful
to all of us. And I take the opportunity to thank
Isle of Capri officially opens on Saturday, January
23, 1999. From here on the stock should perform
slowly on fundamentals. Looking at today�s earning,
management, institutional ownership, future growth seems
promising. I own Isle of Capri as an investment and not as a
trading tool. Those of you are looking for a big move in
a short period may be disappointed. Historically
good stocks move very slowly as improved prospects for
better earning lead to more institutional following and
ByVolume: Reading Mrs. ShirleyLovelace messages and looking
at Isle both remind me of Cindy
ByVolume: Are you a stockholder of Isle of Capri and do you
like Cindy Crawford?
ThreePete, Wishing Jackpot for you �
Last weekend was a three day holiday (Martin Luther
King, Jr. Birthday) and the football game in Denver.
Between now and the opening of the Riveria in 1999-2000,
the loyalty of the Isle of Capri Casino�s customer
base grows stronger. The new casinos generally do not
attract old timers from established casinos. The location
of the Isle Capri Casino plays a substantial role in
attracting new adventurers to the Black Hawk.
example is in Atlantic City. The Taj Mahal Casino owned
by Donald Trump came too late and never attracted
the dedicated followers of the established Show Boat
and Bally Casinos. Bally and Show Boat were both
taken over by other companies, meanwhile the Taj Mahal
is in serious financial problems.
to your experience at the Isle of Capri Casino, one
may have to stand in the cashier window similar to an
airport check in line. But as a stock holder I am
thrilled to see the Isle of Capri Casino�s money
collectors are making two trips to the bank, one before the
opening of the bank and the other before the closing of
the bank. A single cashier at the bank in Denver has
the adequate resources and machines to do the work in
twelve minutes. The Isle of Capri casino recently opened
and employs new cashiers, which generally become very
efficient after counting money for a few weeks.
the stockholders, appreciate your input. We look
forward to hearing from you.
The girls are
supposed to provide diluted drinks to night gamblers who
do not come by bus. The completion of the new Hotel
at the Capri will solve that
ByVolume: ThreePete, did you win or are you still counting?
Can I help you count?
wishing this Jackpot for
possible buyout by HPK. WP is very knowledgeable
of HPK and the new Horseshoes executives which
joined HPK on 1/1/99 know the value that ISLE possesses.
How would 6/share sound to you guys. There will not
be many other deals because the suitor list for
lower end casinos is very small. Only HPK and perhaps
the new PPE would look at a company like ISLE. HET,
MGG and MIR could care less. Independent ISLE does
not go anywhere becuase of debt that will be on the
books for years to come. Sell out if an offer
materializes and buy into something else.
We're running out of steam. Volume dries up. Also
technically we can't slope the wall yet. We need more
institutional sponsorship than just a strong buy from
Wasserstein Perrela. It seems these guys have little
influence, especially on the retailfront.
Need others to
follow, like Bear Stearns. At least we know B S is
In for the long haul.
Thanks for your input, but the formal grand
opening is scheduled for January 23, 1999. The lines at
the cashier will get smaller after the official
opening. By that time all problems should be resolved.