Welcome aboard new bagholders. Looks like with the heavy volume of late we have some new shareholders; at least for the time being. My prior experience in owning this stock....it was called Alpha Hospality back then...it is well detailed. Basically, I took quite a bath in Alpha Hospality when I was lured into believing they could execute a casino business. Of course it was just another illusion; a pipe dream. So here we are; several years later; two reverse splits later and basically the song remains the same. So you can choose to swear by my story or swear at me. After all, this is a forum. To say I dislike this company would be saying it mildly. A few months ago , for a split second I thought about buying some NYNY shares in the low 2's to try and recover some of my losses from the Alpha Hospality days but then logic and bad memories told me no. The more things change the more they stay the same; some new suits but the same old story; illogical ideas. When you think about it in essence NYNY gave some 22 milion shares to KH in exchange for $50 million. And basically NYNY utilized the $50 million to stay solvent and "remodel" the Big M racino. Suffice it to say, if they spent tens of millions of dollars to remodel the Big M they may want to ask for a refund from the contractors. So now, after eating up millions in "renovations" to the Big M and issuing 22 million shares to KH they want to basically scrap the big M and move on to a $300 million plus Concord pie in the sky. To the newbies; logically, from a business standpoint; it makes no sense; but it just goes with the terrority and track record of this delusionary company. Failed riverboat casinos; failed Indian tribe alliance; failed plans with Capelli, lawsuits and more lawsuits; what a farce; consider yourself forewarned; do your due dilligence. Peace out.
I hear you. I am hoping some form of intelligence will prevail here; that NYNY walks away from the Concord land lease; stops the bleeding and cash flow into EPR every month...and concentrates on investing wisely in the Big M. I am telling you NYNY stock will the rise after the smoke clears. If you try and burn the candles on both ends (Big M and Concord lease) you eventually shoot yourself in the foot and are left with egg on your face and am empty cash box.
Mountain. You really love NYNY dont you. Lol. But you have to admit it makes for some good chat. So NYNY held their "annual shareholders meeting:" in some law office on Veterans day. So which do you think is more odd; a shareholders meeting held in some law office or holding an annual shareholders meeting on Veterans Day. I suppose with all the lawsuits NYNY has incurred over the years it is only fitting that the meeting was held in a law office.
It makes perfect sense to move to the concord...The concord Project will be over 1700 acres...No other project will be that BIG...The project will have a Casino...New Horsetrack...Water park...Golf course...Theater for concerts....Entertainment...Retail Stores...Convention center....They will probally then Sell the Old 230 Acre monticello raceway site,The old Monti site is commercial real estate located on route 17... Its a different story this time around...Gambling is now Legal in NY State!
Also they can build something there themselves. With a casino resort, a good location and that is not just good it's a great location can be a mall/housing almost everything. With a nyny share, you will own BOTH....
Yes, it has been a disaster in the past but the Mayor still made money in the stock by trading. No, he did not buy at the exact lows or did your Mayor sell at the exact highs, but he made money. So answer to your question is of course there is value if they choose the Concord site as one of the locations which most think is in the lead right now to do so. This is worth something. Even if it is short-term the stock will appreciate. If it goes up a quick 2 to 3 points after that announcement then sell. Buy and hold strategy does not work with this stock. Another question, if you have been burnt so badly in the past, and you will never buy the stock again, why are you even on here commenting? Why not just move on and follow other stocks you feel you have a better chance to make money on? It is ALL about being PRACTICAL.