They boasted about their 90% occupancy of the hotel at Rising Star with the hotel expansion-- and Rising Star lost money this quarter!! Something is not right there--- if that is the case then nobody is gambling at the casino that is not a hotel guest. It was a long cold winter-- but I think that people are choosing to drive to Cincinnati despite the bad weather to gamble there and not at Rising Star. (ouch!)
back a year or two ago in July SD expanded the maximum amount one could wager at the blackjack table in Deadwood-- and this resulted in increased traffic for tables and slots and increased rev for nevada gold. I think that new games will attract visitors and increased visitors will play slots as well as the new table games.
I admit I would much rather have an increase in the amount one can wager on a slot: but I am sure the reason SD is looking at expanding table games instead of increasing the amount one can wager is for the increase in jobs. Table games require an employee to be at each table running the game.
Good luck everyone- will see what the year brings!!!
Cut and paste this headline into Google for a nice article:
SD House committee: Voters could decide on Deadwood casino plan to add craps, roulette, keno
For some reason Yahoo will not let me post a website link
I think Donahoe did an AWESOME job addressing Carl Icahn's proposed split of paypal from ebay. And Donahoe is right on the money-- you want the two together for the long term growth as they feed on one another.
In the years I have followed Icahn I have learned that Icahn likes using public image to shake the cage ---and short term gains. Icahn knows Ebay is undervalued and knows that even talk of a split would generate hype. As a shareholder I really do not mind if Icahn wants to use his public image in this manner-- because he will allow more visibility to Ebay and people in America will realize Ebay is undervalued and buy shares.
IMO Icahn's move here is just to get attention--the talk of a split is good hype--he probably knows and agrees it is a bad idea. Don't be shocked if Icahn's next "move" after this is to "demand" an Ebay dividend. Talk of an Ebay dividend in the future is also good hype. -- I fully expect Icahn to mention this in the weeks/months ahead.
Good luck everyone!
Very good quarter!!! Refinancing is HUGE!!! 12% interest rate decreased to 6.5% for 12.75M really says it all!
This refinancing deal was big for Shaunnessy! And credit where it is due--He did a good job!!
I was braced for a bad quarter in South Dakota. Deadwood is a tourist attraction and near Mount Rushmore. The government shutdown during peak tourist season decreased tourist flow to Mount Rushmore and Deadwood. On top of that there was an early snowstorm (blizzard is really the best term) and that decreased tourism. On top of that the local ranchers lost cattle- and yeah, had less money to spend gambling as a result. All in all an EBITA of 400K for south dakota is not bad considering all that happened during the quarter. It is a good thing that Washington had a better quarter and offset a little of the decreased revenue with South Dakota.
I am pleased to hear that the city is trying to increase tourism and has signed Roger Brooks International for that purpose. That said: 50K is nowhere near enough--it is a first step-- but will only go so far. The city needs to redue the old town area so that it has an "old west" feel and tourism attractions. Two places that I myself have gone to are: Columbia State Park in California (a gold rush town) and Tombstone Arizona (OK Corral, Wyatt Earp). Deadwood needs to mimic these two towns. It will take time--- but overall I am glad that the city is taking the first couple steps of recognizing the decrease in tourism and hiring the marketing firm. Any increase in traffic will help nevada gold.
Good luck everyone, Merry Christmas!!
A little later than expected…….but hopefully with some good news as far as debt refinancing. A couple percentage points drop on their interest rate will result in HUGE savings for the company and increase in profit for shareholders
It would be awesome if Shaunessey would deliver everyone an early christmas present.
Take care everyone!! Merry Christmas!