Lebron alone is probably worth more than 5x what RICK is worth.
Langan couldn't carry Lebron's jockstrap.
$15M buybacks REDUCE the value of the company by ay least $15M. PERIOD. Cash is gone. Nothing is gained, only lost.
$15M debt reduction adds to real world earnings by reducing cash flowing into interest expenses. Lower debt adds safety to the stock and increases share value. Lower debt allows lower borrowing costs for future expansion.
$15M spent on a profitable club, or several profitable Bombshells, adds revenue, adds REAL earnings, adds cash flow, and adds value to the company. All increase share value. And these things over time add up and snowball as the earnings buy more expansion. And that expansion adds even more growth.
So $15M blown on buybacks will cost shareholders for the life of the company in revenue, earnings, and cash flow that COULD HAVE BEEN GAINED. And that's FOREVER!
Buybacks are VERY STUPID for a company with only 10M shares. CEO and BOD should be replaced imo.
They could have gone anywhere.
Yet Langan believes he's above flying commercial airlines?
Time for a new CEO and BOD!
Hey Mars, that would be chump change compared to the amount of money "transferred" in the Vegas scam.
Where did all that cash end up? It didn't just vanish, except from RICK's balance sheet.
How about the 13% loans from "un-named individuals"? Somebody is getting a good return on their cash and it's not shareholders.
How about Vivid LA? They bought out the partner in the deal just to close the place down shortly after. how much was "transferred" there?
Money is being "siphoned" from shareholders everywhere you look. Only they don't have to hide it from the public. CEO's $1M salary is disgusting. The jets and planes for personal pleasure is disgusting. The $6M or more HQ (hangout) is disgusting. So much waste. One would have to be nuts to not believe that some of this blown cash isn't being kicked back to the one freely tossing it around imo.
Same with Buffett and Munger. They will make him a hero when the company cleans it up.
Ackman MUST triple-down here to make money above $70 or so. Cramer just helping him collect shares CHEAP.
$100/share will make him nearly a 50% return if he gets that cost basis down.
GAAP EPS excluding items fell for the 4th straight quarter. They closed down 5 or 6 under performing clubs and opened or bought new ones. Plus they reduced share count. GAAP EPS should have gone up, not down. Where are the profits leaking to? Simple. Look at the CEO's pay, stock options, planes, new office building , ect, ect...Plus Texas is getting slammed by low oil prices. They are closing up clubs it's so bad.
Debt over $101M now. It's killing the stock! They are tapping into real estate with every re-fi they do it seems. That's make-believe cash flow. They should be paying down debt to increase real world earnings to build clubs with CASH that further MAGNIFIES earnings. The CEO either doesn't understand basic math, or he's pulling the wool over shareholders' eyes IMO.
Think that gap from $10.09 to $10.54 yesterday won't get filled?
Think again! Remember who's controlling the puppet strings on this stock and his agenda (total control). No BOD or big investors to stop this CEO from buying back ALL the shares with company cash. He could be the only shareholder someday without spending another penny from his own pocket. Think he wants to see full price or a premium for these buybacks? ROTFLMAO!
Either he doesn't understand that they both hurt the value of a company, or he thinks investors are ignorant and believe what he is preaching, IMO. All I heard was re-fi, re-fi, re-fi. Dude, try PAYING IT OFF!
Buybacks DO NOT INCREASE a company's earnings or market value!
Reducing high interest debt DOES INCREASE a company's earnings and market value!
Stupid is is stupid does...
With share buybacks still in place, "they" will take it back down. Probably see $9.50 again.
How many shares has Langan ever bought above $11? LMAO!
I'm sure it happens in Texas, but the rest of the world thinks it's gross and don't want to hear about it.
Langan, get this through your skull. We only want to see GAAP figures EXCLUDING one-time items!!!
You've played this game for over a year now because the Y-O-Y comps haven't been in your favor. Your fooling nobody!
They own 90 business and own large stakes and many more BIG companies.
I cringed when Langan said RCI will have "7x more than the 6 people at the old HQ". Really? 40+ people hanging out at this expensive new building with the AC blasting in the hot Texas sun. What a massive waste of company cash.
a day before it's CC.
I expect disappointing earnings to drive down stock to benefit the buybacks for at least another 3 months.
Watch and learn monkeys.