Sinatra: I wont get into the jet again. Regarding taxes yes they do hit the bottome line, and the situation in AC is code red for the casino owners. Every local goverment is looking at casinos right now to solve their rising debt. Now lets not forget union employees. And I am just trying to be fair here for the average person looking at this stock trying to make a buck and may get sucked in by the bright lights of the Borgata. As for the CT casinos, I must bring this up as these two casinos have done tremendous harm to the AC market. These two casinos are of a class by themeselves. The AC market cannot compete at all with these two. The gamblers like these two casinos in the metropolitan area. They are two huge cities within themeselves. I dont think that harm will ever go away. And finally you say that the states that raised the taxes the most will back off and come to reality. I find, in my opinion, that when a tax is raised, it stays there. It never goes down but can only go up. As for the casino lobbyists. Their main job is to get the casino approved in the local jurisdiction. They have done that. Casinos are not loved by all as is tobacco and liquor,. Sin companies are always the first to get wacked by the tax man. I again state that the economy is fragile and will be for some time. Unemployement is high. Homes are being repossesed at the highest rate ever. And people do not just have the luxury to flush money into the casinos toilets as they did several years back. As for you thinking boyd is undervalued. It was undervalued at 4 a couple of yeard back and maybe at 6 not so long ago, but there is no value at this current level.
Tommy: "And finally you say that the states that raised the taxes the most will back off and come to reality. I find, in my opinion, that when a tax is raised, it stays there."
Well, I guess you never heard that Harrah's forced the state of LA to back down on their hefty tax on their land based casino in New Orleans? The tax was so much that Harrah's threatened to close up shop and LA would have lost substantial $$$ in taxes and other revenue due to loss of jobs that pump $$$ in the the state coffers.
Ok Tommy, we get it, you hate this stock and you are trying to save the people of the world from making a bad decison and losing all their money on this stock. Very honorable sir, but can you now please get some new material?
Try to understand this though: Even if casinos closed and locked their doors, people would still find a way to break into them just to play.
Now that is what I consider an intelligent, straightforward answer. It is more helpful for people who read these boards to review discussions such as yours opposed to ones that are full of rants. I think the worst thing about sifting through message boards is getting through all the Bullsh*t.