% | $
Quotes you view appear here for quick access.

Ameristar Casinos, AŞ Message Board

  • wcpjr98 wcpjr98 May 10, 2009 9:01 AM Flag


    I don't short stocks, but i did I would short PNK.

    Good luck.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I decided to listen to you so I closed my short at a nice profit:). One never goes broke taking profits, even if not as much as one would like.

    • Thanks. PNK does look like another short candidate, but IMO ASCA remains an even better one. PNK is priced at its book value while ASCA is 3.5 times its book value. Also, ASCA is just as stressed by debt as PNK although ASCA's new $500 million unsecured note may stave off an actual bankruptcy for the next two years. If things don't improve by then, then ASCA ought to be toast. Also, IMO ASCA's recent dividend and EBITDA "surprise" is more a function of accounting tricks than genuine and real earnings. Nonetheless, IMO ASCA is extraordinarily overvalued at its current price given today's stressed economy and am happy at present with my short position.

      • 1 Reply to OEX52
      • The glass is half full, not half empty.

        ASCA has Hotel and new gaming laws in CO.

        ASCA is #1 in gaming revenue in KCMOm, and #1 in StL area with a new Hotel and Gaming laws changed in MO/

        ASCA IA casino is holding its own.

        Grantly Mr B paid too much for the IN casino, but he is gone, but $25 Million a month is not chump change.

        Free cash flow is a wonderful thing.

        Don't know why you have a hardon for ASCA, but longs are making more money than shorts at this point....imo