$37 CIRCUS BUYOUT SPLITTING GAMING AND H
Dear Barry:
You have done a great job and
you should be proud. To combine Sheraton and
Westin...wow! Two great names. The hotel business is doing
great. Just tried to book a room at the KC
Westin...booked! I love it!
However, the stock is not
moving, and that isn't really your fault. Investors are a
fickle lot, looking for instant gratification. So,
please do not misconstrue my requests as seeking short
term gain...these two requests will benefit the
company, and its owners, long term.
First, sell the
Casino business. It's prospects are not good. Look at
the supply and demand line.
Second, take the
proceeds and buy back shares. At this price, and the
dividend your paying, it makes more sense than to buy more
properties or pay down debt.
Please give these
requests serious consideration. Thank you.