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MGM Resorts International Message Board

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  • grange707 grange707 May 24, 2010 5:45 PM Flag

    wtf was that?

    Here is what I know.

    I live in Las Vegas. Visitors are definately up and so is convention traffic.

    However, MGM is virtually giving away rooms at CC just to fill beds. WYNN and LVS appear to have pricing power at this time. They are attracting a higher level of patron who is spending $$$.

    CC is bleeding 3 Million a day and is 18 Billion in debt.

    Las Vegas will succeed, the players will be different and that will be GOOD.

    A BK of MGM and break up into several properties will be good for the town and the consumer.

    I have a huge short position in MGM, (puts) as most companies that have a huge debt, negative income and no plan to solve the issue, I usually short the hell out of.

    Past Shorts
    *New Century
    *KB Homes
    *Indy Mac

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