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eBay Inc. (EBAY) Message Board

brad_welsh 20 posts  |  Last Activity: Apr 5, 2014 1:37 AM Member since: Jul 9, 2001
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  • Who else that is a shareholder is ticked off they didn't get the chance to participate in the "First Tranche" 1M stock offering which closed almost immediately upon approval, including shares to the new Chairman? When the stock is trading at 75 cents and these convert to shares at 30 cents who wouldn't go for that? Why would you buy shares on the open market, when you get such a deep discount to market? Additionally the second tranche of another 1M dollars worth was done at 45 cents, another huge steep discount to the market price.

    Also if you read into it, it's contingent upon the company filing 2011 and 2012 taxes, so it looks like they haven't been filing taxes. Additionally the filing says the company does not have the ability to pay the new Chairman, and his new salary is set at 300,000 per year.

    Further this just serves to further dilute shareholders, as significant discounts to market. Usually when you see this, it's a clear indication of a "death spiral" as the company keeps issuing more and more discounted shares.

  • brad_welsh brad_welsh Apr 4, 2014 1:11 PM Flag

    The problem with dilution is it's been the cronies in management who have been rewarding themselves with cheap stock options. I don't know who is going to go to Diamondhead for a Convention, usually they like ancillary services like restaurants, shopping etc. New Orleans is much better suited for a convention crowd, even Biloxi but not Diamondhead.

  • brad_welsh brad_welsh Apr 4, 2014 10:42 AM Flag

    Fully reporting will be good, you have to wonder why they even dropped it in the first place. That was just another screw up of the clowns running the show. I realize there are two sides to every story and some of the things may be overblown on Ted, but some may also be true. I don't think he needs a gaming license currently because DHCC has no casino.

    I don't expect DHCC to have any casino in the future either. The Gulf market is in decline and I don't think any rational casino company will build there. Sure DHCC has a site where there is no casino around, but if someone is driving to the site from either direction, why not go to Biloxi or Gulfport or New Orleans the other direction? 10 years ago when the market was growing there was still opportunity to lock something in, now as all the states are broke and expanded casino gambling it's cut out a lot of markets where they had exclusivity. Around the Gulf Louisiana has gambling there is gambling in the Florida panhandle. Alabama is a little behind the times, so is Tennessee, but think about the people of those states if either enact casinos it will impact gamblers who go to the gulf. It will essentially kill Tunica in Northern MS and strain the coast. It's like what is happening in New Jersey as New York and Pennsylvania have gotten casinos, Atlantic City is dying.

    We'll get a better picture when they become a fully reporting company, the last filing was last year when the Queen was issued tons of stock option at 19 cents a share. The concern here is the shareholders who have stuck this thing through have been massively diluted, almost to the point where it really makes no sense to "invest" in the company due to the raiding by the management. The other comparison to make is stock price and shares outstanding. The Hard Rock was recently sold for $250M, that's an established casino and 154 room hotel. DHCC will need to build up from the ground which will cost significant money.

  • brad_welsh brad_welsh Apr 4, 2014 12:44 AM Flag

    The good thing is the Queen is giving up some of her power as Chairman, but is still involved, which is not good. You have to wonder where Ted came from. If you read the Erie newspaper from an article just posted today, he was involved in a lawsuit where he has to pay back defendants. Then if you go back to his days at MTR, and read the news gaming regulators were investigating him about not renewing his license.

    That causes concern. The other concern here is where is this new 3M investment coming from and what are they receiving? Probably yet more dilution to current shareholders.

  • brad_welsh by brad_welsh Apr 2, 2014 1:23 AM Flag

    Not too much cash left and they expect to burn through more of it. Stock price will continue to drop as they continue burn up their cash. At some point people have to realize what they are doing isn't working.

    Sentiment: Sell

  • Reply to

    Brad Welsh = "Strong sell"

    by baseballrob3 Mar 28, 2014 6:01 PM
    brad_welsh brad_welsh Mar 29, 2014 4:49 PM Flag

    Why don't we discuss the facts? The Mississippi casino market is in severe decline. It used to be Las Vegas, Atlantic City and Mississippi who had casinos and a lot of people flocked to the state for gambling. Now most every other state has casinos so there is no need to travel to gamble. It's one reason Tunica is dying, and why Arkansas is killing them off. If Tennessee gets casino gambling, that's the end of Tunica, there is nothing there for entertainment except cotton fields.

    The Mississippi Gulf, like Tunica is overbuilt and the Mississippi Gaming Commission statistics continue to show declines all around in gaming revenue on the coast. Why would someone build another casino in a declining market to further cannibalize sales from existing casinos so everyone struggles more?

    DHCC missed the boat time after time. They own land, but keep issuing more shares and diluting shareholders? Why not look at their last SEC filing where they granted the CEO millions of shares at 19 cents a share? All this as a reward for driving the stock price down. Think about it, no rational investor is going to invest in a company where management is bleeding it dry with stock issuance and grants to themselves while not doing anything. Why invest your hard earned money into something that is getting massively diluted?

    Why not also pull up a Satellite image of DHCC's land and look at the development "on the water". Nothing close by, because it's all low lying swamp land prone to flooding. Got question on it feel free to pull up the FEMA maps.

    Shareholders have given up on this company after 20 years of broken promises, there is no reason to believe anything is going to change anytime soon. The only thing that pumps up this stock is management constantly talking about how they are close to a deal, which never pans out.

    We'll let the market reflect where the stock price will go.

    Sentiment: Strong Sell

  • Reply to

    brad_welsh is an idiot.

    by aewilliamson Mar 27, 2014 11:22 PM
    brad_welsh brad_welsh Mar 28, 2014 12:02 AM Flag

    If the area is booming so much on the coast, why are the figures reported by the Mississippi Gaming Commission showing drops in revenue for the casinos for the Gulf Coast? This has been the trend even since the recession hit and even through the recovery, the casinos continue to drop year over year. With 12 casinos on the coast, who wants to build more in a declining market? Further more DHCC had their shot and blew it numerous times. Yes, they own land but a lot of it is in the flood zone where no one wants to build. To develop this land will be a challenge nonetheless. DHCC is headed back to the single cent range to be a true penny stock.

    Sentiment: Strong Sell

  • Reply to

    Caesar's closing Mississipi Casino Harrah's

    by brad_welsh Mar 27, 2014 9:26 PM
    brad_welsh brad_welsh Mar 27, 2014 9:41 PM Flag

    Here's one more too....a full blown casino in Mississippi acquired for 62M. I mean why build a casino on DHCC land when you can just buy something existing a lot cheaper.

    LAS VEGAS--(BUSINESS WIRE)--March 24, 2014--

    Full House Resorts (NASDAQ:FLL) ("Full House") today announced that it has entered into a definitive agreement with The Majestic Star Casino LLC to acquire all of the outstanding membership interests of the entity operating Fitzgerald's Casino, (the "Fitz Casino") in Tunica, Mississippi. The purchase price is $62 million, exclusive of working capital and other adjustments, fees and expenses as of the closing date. The agreement is subject to Full House obtaining financing for the acquisition within 90 days of its execution, obtaining regulatory approvals, and other customary closing conditions.

    Sentiment: Strong Sell

  • Reply to

    Caesar's closing Mississipi Casino Harrah's

    by brad_welsh Mar 27, 2014 9:26 PM
    brad_welsh brad_welsh Mar 27, 2014 9:29 PM Flag

    This shows the gaming sector is too saturated. This is why DHCC missed the boat for casinos....the market on the coast there is also too saturated, and now with almost every state having casino gambling, no one goes to "destination" areas to gamble except for maybe Vegas. On the coast New Orleans is the best option because you have all the features of the city, fine dining, entertainment, shopping etc. No one is going to go to Diamondhead or Bay Saint Louis to gamble, except locals.

    Sentiment: Strong Sell

  • Caesars Entertainment (CZR) will close its money-losing Harrah's casino in Tunica, Miss., on June 2, as casinos in the U.S. struggle with anemic growth amid continuing consumer caution.

    "There's just too much supply in that market," John Payne, president of the company's central markets division, told Bloomberg. "The Harrah's has not been profitable for a while."

    Top U.S. casino operator Caesars will eliminate 1,300 jobs in the move, which comes amid a broad restructuring for the company. Caesars has lost money in five of the last six years.

    Sentiment: Strong Sell

  • Also I think Eastern Ukraine will further split and become part of Russia as they are mainly Russians there. The Ukraine will survive but in a much smaller state than it is now

    Sentiment: Strong Sell

  • brad_welsh brad_welsh Mar 3, 2014 11:41 AM Flag

    Don't forget how leveraged the US market is with margin at all time highs. This little blip will mean more margin calls and BOOM, the market heads lower quickly and it continues.

    Sentiment: Strong Sell

  • US selling will pick up through the day, the US market is so leveraged with all time margin use, once this reverses it's going to reverse very quick and feed upon itself.

    Sentiment: Strong Sell

  • Wow....the truth comes out. How are these people going to consume or spend in the economy? The next financial crisis is right around the corner.

    Sentiment: Strong Sell

  • FB lost 30% of their teen users and everyone else is slowly following as they get FB fatigue. Who wants to buy this at the highs with such deteriorating fundamentals?

    Sentiment: Strong Sell

  • Reply to

    Stephanie Link is buying, run!

    by zangnut Feb 20, 2014 12:23 PM
    brad_welsh brad_welsh Feb 20, 2014 1:01 PM Flag

    Ask yourself do you want your fund manager buying at the highs? What type of crackheads are these people? Sure they'll shoot it up a little more, but the bloodbath is around the corner. This deal will be worse than Time Warner's acquisition of AOL. It's all hype and no fundamentals. Pretty gutsy of FB to spend twice their revenue on this, when their overall business is declining as users flee the site.

    Sentiment: Strong Sell

  • Time Warner's acquisition called the "worst in history". FB might top it here with this acquisition.

    Sentiment: Strong Sell

  • Reply to

    Land

    by spenser0485 Feb 10, 2014 11:17 AM
    brad_welsh brad_welsh Feb 13, 2014 12:27 AM Flag

    No one advertises in papers anymore. It would have to be internet exposure

  • Reply to

    Land

    by spenser0485 Feb 10, 2014 11:17 AM
    brad_welsh brad_welsh Feb 12, 2014 1:33 PM Flag

    What site is it and how much do they want? Do you know the location? This might give everyone a ballpark comp for what the DHCC site is worth there.

  • Reply to

    Land

    by spenser0485 Feb 10, 2014 11:17 AM
    brad_welsh brad_welsh Feb 12, 2014 1:16 AM Flag

    If there was an ad, surely they would tout the waterfront if it were them. Would be curious to know what other "land" is going for around there. Also if it is these bozos...no one uses the newspaper anymore. It wouldn't surprise me this management crew to be that idiotic though. If you are trying to attract an out of casino company or investor, you odds of reaching them are about zero because they aren't going to be reading the classifieds of the local paper. Further if DHCC wanted to unload their land they would be best to hire a real estate broker to give them national exposure. At this point that's the best option one would hope for is that they just eventually put the thing up for sale, if they don't it will be another 20 years of burning cash and nothing being done down there.

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