Mountaineer is up for sale? Is it a rumor or fact? I would think that would be headlines if true! It does seem as though all progress has stopped at Mountaineer and nothing new has been happening! It is ripe for a take over. Sold my stock but still care if Mountaineer survives for the people who work there and for the County and State. Does anyone know for sure????????????
In the same article, Gaming Today also reports that they believe that MTR gaming is interested in selling their recently purchased Binion's property downtown. Again, this isn't surprising, and the usual suspects of potential buyers are mentioned. The problem is that the cost of renovating or demolishing Binion's may exceed the current value of what may be purchased. We like the place, but we wouldn't buy it.
think of it this way. A lot of other casino companies out there. They take gambles all the time. someone will roll the dice on mntg. some need a presence in the east/midwest. they will pay with cash/stock. might not be a big premium but anything under ten is a good buy point.
That's a mighty thin proposition to lay real money on it seems to me. Looking at the chart, the stock looks absolutely terrible, without any buying support to keep it from continuing to fall. Technically, $10 was a pretty strong support level, and the next looks around $9 or so and that should probably hold, barring some sort of horrible news. Buy at $9, not now.