Thanks for posting this. Nice to know that the DHCC's project is supported by this group. It would make sense that Jacob Ent. would want to at least consider building on DHCC's land. We don't know if they have ever discussed this with DHCC management. I assume that the local government wants a casino in Diamondhead to bring in the tax revenues, if the residents support it and the Gaming Commission approves the site then all is needed is a JV partner or a buyer for all or part of the land. Theoretically, DHCC can sell a number of acres to a casino developer and sell pieces of the land to other developers. (IMHO, long DHCC, do your own DD).
Of course it would make sense and I believe he is smart enough to have established a position. My point was about a " controlling" position that sounded like more than 50% position. Now I don't believe that you meant it that way. As hard as it has been with this investment for many years, there are two major positives in my opinion, one is the location of the land the other one is that management has direct and indirect (options) interest to see that something good will happen.
Of course, but when you wrote "controlling" shares I was thinking more than 50%. In my opinion, there is a good chance that the shares have been accumulated by some "friendly" parties during the last almost 12 months. They did it gradually and methodically without running the stock price up too much. Perhaps the management (without Ted) didn't mind lower share prices either (for a few reasons). Now that the accumulation has happened (hopefully they are done) and the options are granted, there is time for good news and hopefully some real activities (casino, etc.) and much higher stock prices. (IMHO, Long DHCC, Do your own DD).
The halt will most likely cause wider spreads for the stock, won't be surprising if we get 20 or 30 cents spread between the ask and the bid. I hope they file the financials quickly BEFORE any major announcement.
What do you mean by "... Ted A. needs controlling shares"?
In my opinion, the trading halt was an unnecessary negative which didn't have to happen if the management had filed the financials as they were supposed to. If the halt had not happened, with the recent positive news we may have had higher prices. But the volume has been next to nothing and the drop does not mean much and if the site is approved we should logically see higher prices. Longer term I am more optimistic as long as they start BUILDING on the land. Once the site is approved for a casino I assume the company can and should start selling some acres to developers for condos, hotels, malls etc. Once the land becomes a developing land (vs. raw land) logically the value of the land should go up. The key is to get the land developed and generate income which will translate to more value. 400 acres is a lot of land and much can be built on it especially with about Two miles of water front. (IMHO, Long DHCC, Do your own DD).
As a long time holder of some of these shares, I believe that the prior management did not do a good job in reaching a deal AND they faced a number of unfortunate situations that were out of their control. However, how we got here is less important tan where are we gong from here? With bringing in Ted A. to the management the potential is better now perhaps much better. Ted has the experience and the know how to make something good happen. I hope tha he will be successful. The location of the DHCC land has very high potential, the question remains if that potential can be put to work. They are finally doing some good and moving in the right direction. I am optimistic. (IMHO, long DHCC, do your own DD).
Now is the stealing maneuver, with recent positive news about filing for the site approval logically the stock should be moving up. I am not predicting, no one knows!
drbenquestt....you are right, this clown writes very much like the other clown, shooting from the hip, no logical explanation for his/her moronic comments, sickening!
smitty, you sound very much like a clown we have (had) on this board (sno something), your "advise" is not worth anything and is not welcome here! You just make people angry without offering any logical comments or information!
Good point. There is also a chance that the MM's will try to steal some shares after the halt is lifted by putting out an artificially low bid, hope no one falls for that.
It will depend on the supply and demand like any other day. It's good that we have had some positive news since the halt started (DHCC filed for the site approval and the other site in Diamondhead did not get the approval for their site).
I agree that the DHCC property must have much potential/value for non casino developments(condos, hotels, malls, convention center, etc.), of course one or two casinos I assume are higly probable. Ted A. is the new blood in the management and he seems to be the right person with the right background and connections. I am surprised that the stock has not moved higher(before the halt) and I hope that as time passes we will see much higher prices. (IMHO, long DHCC, do your own DD).
You seem to know a lot about the situation, do you know for a fact that JE wanted to spend 250MM on their site? Do they have that deep of a pocket?