Great to talk to you again kiddies. The Mayor says this is still a 50/50 percent chance that good can happen. 3 areas for now will be selected in the Upstate Region. The Concord location is the front runner for the Sullivan County area which is NYNY hence the big move up!! Good thing is we should know quickly. Hopefully the votes will be there this time. Now your Mayor still owns land near what will be the old racino which is still at the racetrack. That land will still be valuable and am hoping for a large regional type of mall like a huge Outlet mall which would do well in that region. Might be worth taking a shot at this point but don't overdo it like dopey Markie and his Hens use to or Ornie the #$%$ who guaranteed this stock would be at 40 10 years ago and never came close. Those clowns are now bankrupt but your Mayor is still in the MONEY!!
REAL ESTATE STILL KING!!
The latest uptick was all news driven not manipulation. Very obvious this news comes out and the stock goes up. Did it go up more than it should given the news, I would say yes but that is what speculation is all about. Having said that of course with a low volume traded stock like this is sometimes there is manipulation that goes on. But 9 times out of 10 with this stock when there are big jumps on the upside it is usually a fundamental reason. Key is watching the volume. Usually stock goes up a day or two in advance of positive news coming out to the public.
As CPAT knows or any long time investor of this stock knows with NYNY you have to see it to believe it.
Of course this is a bit of a gamble and why the stock is so low. There really is an upside chance though. The fact that the Concord is in the lead to get a casino and the fact that the morons that run NY are finally starting to realize that New Yorkers Gamble!! Unfortunately they must gamble in NJ, PA, CT which brings NO much needed funds into the state. They might finally be waking up. On the flip side they can just argue like little boys and girls again and get nothing done. So might not be a bad play with some Fun money.
NYS has finally woken up, but Cuomo is complicating things beyond belief! Original plan was the best. Let racetracks (existing slot parlors) physically carry in table games and require them to add x amount of jobs and make x amount of invetments for the right to do so. Then, deal with NYC in 2 years insted of 5 so that voters in NYC this fall will have a stake and vote "Yes" It's such an easy fix to this mess. Too bad politics are coming first.
As a long time investor in NYNY, I was wondering how you think this recent offering is going to affect the POS. Are we treating this as a dilution? Also, what do you think the timing of Empire's project. Do they break ground this year of wait until after November. Thanks.
It's definately a substantial amount of shares - 20% of outstanding.
I just can't see them breaking ground and making a commitment to this project until they ahve clarity on whether they will have to compete with a full scale casino down the street. They haven't even said pulicly that they would even seek a table games license. Genting sure does not want full scale casinos ANYWHERE in NYS unless its at Resorts Word. They didnt want to pursue a Mohawk casino and went to Albany to kill it, so I dont see why its different with Concord. MAybe the 5 year exclusivity makes it more apppealing. i think its pretty strange that all these politicians just assume that Concord will want table games. What will the up front fee be? Does Cuomo want $100+ million in some kind of fee? Would they have to relinquish their rights to the revenue sharing agreement for investing $600m?
I do think that that secondary was neccessary to pay for shareed development costs, but it does dillute....no doubt abotu that. Big question, is will drop some type of masdive equity offering to KH if they do build? I would assume KH wants to increase its stake as low as possible, which lelads me to believe that someone out there just took advantage of the lack fo resistence to $3 and forced some people to buy back their borrowed shares above $3. I saw little to nothng new about some off hand remarks by Bonacic and a very vague answer by Cuomo to a question in an Q/A the other day.
Great to have you back mayor. You coming back means like you said a decent chance for empire in this like 15 year saga.I have been dabbling ,stock ,warrants . Genting i guess is still the key but Cuomo has a duplicate.Considering NYC will most likely not get table cames for 3 or 5 years after the others it seems Genting is in a win win at the concord.They will fight hard not to have table games at any other place in sullivan or ulsteror maybe even saratoga.Why should the 2 indian tribes way upstate and west settle now with nys when they can wait and see a bit longer.But Boniacs 3 casinos to start in 4 areas is alot better then in six.Hey Bruce . The maypr is back. Long live the mayor
Whats up CP!
A couple observations:
-I agree on point regarding Indians. Cuomo is using there regions as leverage in his negotiatios with them! It's not chump change they have withheld! I even read an article a while back where there was specualtion that a big part of his casino push was almost entirely to use it as leverage with the Indians. I dont htink that is ENTIRELY true, but with Cuomo never can be sure JUST HOW MUCH truth there is it it.
-I FIND IT VERY STRANGE that you have Bonacic (and others) all talking as if EPR/NYNY want to to bid on a table games license. YET, not a peep from Empire. Same thign when they got the Kempthorne reversal news. If I were Bonacic I would assume they want one too, but WHO KNOWS WITH GENTING! It was NOT a coincidence IMO that they issued a PR about oversaturation in the NE casino market right after Cuomo said no NYC casinos for nothing! You got Nevele wanting to invest $400mil, you got thr MUSSes with their 500 acres in Liberty over at Grossingers you got Cappelli who I am sure WOULD LOVE to screw Empire. I mentioned earlier, but Empire is going to build the concord project with just slots then why would NYS give them a table games license and leave 1000+ jobs from another development on teh table? Also, does EMpire get to keep the 75% revenue split on the slots if they got table games? If Cuomo wants an upfront license feee then that is a bunch of money to give up, and given up a 75% revenue split from slots and get taxed at whatever crazty rate NYS comes up with for table games. Not sure if want to give it up or not. I hear slots are more lucrative for casinos (but how could ypou want to give up a shot at full scale gaming?)