i have no clue.But wow.at current pps would issuu 50mil new shares.We only have like 35 mil now
This assumes its all common issued..Can they do a debt or cov debt.?Logic says this will go down as genting wants it.Will they try the old get the pps jacked up to 7 or 8 and then do a 6.50 to 7 offering.what subfactors might come into play.1mil shorts many shares owned by capelli/bernstein.These guys always seem tp be hanging around.Is right now all about the rfp?The last week or so cpat has forthe most part has been controlling the share price.
Lol- judging from today's action my post was timely!
Hmmmmm.....Cp- per recent filing the "seller" of the warrants got then at $6 or ($2 pre reverse split). As far as I know Bernstien got his warrant at $2. Maybe a little "passive" market making to make him a market above $6 to divest from him? After all he is supposed to submit a competing proposal with Berman.
CP- it's a tough call. I think you want to have some skin in the game right now because its really anyone guess how the shelf offering will impact the PPS.
If they issue debt or convertible debt then IMO the stock goes through the roof.
If they price a secondary it will likely involve a rights offering. If KH wants to buy it all for themselves then they will jam the market price lower to deter any exercising of rights IMO. Vice versa...if they are ok with shareholders participating in new equity then they will let the PPS float higher. OR the wild card is that another entity jams it higher for other reasons. e.g. Forced short squeeze, Genting betting against the box etc....jus like we saw last may.
It's really tough to say at this point. However.IMO the number of possible favorable scenarios currently outweigh the negative ones. Right now I think biggest is they set the price substantially lower than the market price. But in. Any event, once that happens, they will also have $250 million and a VERy good chance at that point in winning a license. So the long term value will still be there even if there is a short term drop (so always good idea to have some dry powder).
do you understand that basically all they are doing is getting ready for a drive by offering? If this was going to be a real offering it would not be filed as shelf. This is an opportunity to do an offering whenever they have the ability.
If they had this in place after Election Day they could have done it at like $7. Andre and Jose alone could have done $10 worth of it there.
Genting Has Connections....and a Huge Bank Account....Dont Worry Fellas....$250 Million Is Nothing....Genting Is Majority Owner Of NYNY.....They Are The Brains Behind This Entire Operation....Once Genting Gets The Casino Licenses For Empire Deal And The Queens Deal....The Money Will Flow!!! A $4 billion plan announced by Gov. Andrew M. Cuomo to create the country’s largest convention center and a casino in Queens has fallen apart, the governor acknowledged on Friday.
A Convention Center at Aqueduct Is Urged (January 5, 2012)
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The project, which was to have been built by a Malaysian gambling company at the Aqueduct racetrack near Kennedy Airport, was a signature initiative of Mr. Cuomo’s and a central thrust of his State of the State address in January.
Mr. Cuomo, a Democrat, said during a radio interview that negotiations between the state and the Genting company, which was expected to pay the development costs, had broken down.
“The conversations haven’t really worked out,” he said.
The revelation left a fog of uncertainty over Mr. Cuomo’s drive to bring casino gambling to New York City, which his administration views as a key source of jobs and revenue. The Genting proposal alone was expected to create 10,000 construction jobs and 10,000 permanent jobs.
Genting issued a statement saying that company officials “continue to want to invest in New York and plan to do so for years to come,” but that the uncertainty surrounding Mr. Cuomo’s efforts to push through a constitutional amendment to create a framework for casinos in the state made it difficult to reach a deal.
CPAT....Genting Owns 23 Million Shares of NYNY....Why Would They Do Anything To Hurt The Value Of The Shares They Own?.... Wouldnt They Want The Stock Price To RISE....Wouldnt They Want To Offer Shares For Sale At a Higher Price In Order To Raise Money For The Casino?.......Wouldnt They Do a Variety Of Offerings....Some Common Stock....Some Warrants....Some Preferred....Some Debt....???....
organic.I have posted my logic says they would but genting is S ANS S.SILENT and SMART.I defer to Bruce and he has no clue.I thonk u r right. I think if there is a mixed shelf and a regular shelf a combo os what they will do.Too many moving parts and future days amd questions.What will be rfps.Will 50mil cas fee b needed rob escrowed before siting comm picks site?What is best for kh?is it cov debt say at a low con price with a 2 or three year wait?pref stock with warrants.?Will ent prop trust get tied in somehow?Imo straight debt aint happening.If they wanted us(minority)burried why give us the 1.89 rights with them.?Genting imo does not want someone else to get the licenses.Why have they put millions into us.Only answer i can think of os insurance incase what hapened with 2 consec state leg and the ballot vote came to pass.
And Also Dont Forget That Genting Is (Majority Shareholder)....If They Dumped 50 Million Common Shares On The Market Today...Genting Would No Longer Be The Majority Shareholder..There Is No Way They Will Do That Deal....I Think They Go With Plan B.... Sell Some Shares And OTHER Issues From Time To Time At Higher Prices....
If they want the projected Concord project to be a reality ...assuming NYNY gets the casino license...it is going to cost NYNY in excess of $375 million......$300 million to build the casino to completion; a $50 million or so casino license bidding fee and $25 million to pay off the preferred shareholders. So if you used the 120 day price per share as a guideline conceivably you are looking at an additional 100 million shares issued which would render some 136 million shares outstanding before the casino would open its doors. I would of liked them to seek bank debt financing instead of issuing more shares; but apparently no financial institutions would consider same; especially given their inability to pay off their existing KH debt; having to resort to an extension of the KH loan with fees attached.