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SPDR Barclays Cap Mortgage Backed Bond Message Board

  • stockchatter stockchatter Jan 13, 1998 1:08 PM Flag

    No clowns in this circus

    Circus Circus is a great company, #2 in the gaming industry after Mirage Resorts. Sure they are going through rough times right now, as is the whole industry. Basically for a couple of reasons. Over supply of rooms in Las Vegas and potential decrease in Asian visitors.

    There will be no new rooms in Vegas until late '98 to early 1999. When new rooms do open, they will spur increases in visitation as they will be "must see" attractions; Mirage's Bellagio, CIR's Project Paradise and MGM Grand's almost $1 billion renovation. Remember the activity last time there was such openiings?

    Regarding Asian play. The concerns are that Bacccarat play will drop off substantially as wealthy Asian "whales" will not wager as much in Las Vegas. CIR virtually has no exposure to this segment right now, as opposed to MIR, where 6% of their revenues are from high end baccarat play.

    CIR's properties on the Las Vegas strip are coveted. When demand picks up in Las Vegas, they will be able to leverage their earnings with substantial rewards to patient investors. Also to consider is a very strong balance sheet, well respected management, growing gaming markets in Mississippi, new license in Detroit, projects in development in Atlantic City and expected industry consolidation.

    All Circus Circus investors today will make great returns tomorrow!

 
MBG
27.31930.0000(0.00%)Aug 28 4:00 PMEDT

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