The blockade hasn't been lifted and won't be until they make a deal for the property that was seized.......
I don't believe they got the vacant land. I'm terrible with the legalise. I can't make heads nor tails of the survey dimensions on the purchase agreement. But the ground lease is worded that the tenant (UWN) bought the adjacent property and the landlord (guidici) owns the property to be leased ( the land and temporary buildings).
I believe I read that before the recession, there were plans to put a hotel there, so maybe down the road there will be another deal.
I just noticed the employment agreement for STEPHANIE GUIDICI to manage the slot club for a year for 66K. Gonna be tough to get rid of her with the largest shareholder being a relative.
After a long absence as shareholder I'm back in..small.
1) The economics of the deal seem to make sense. (still has to close though)
2) After several visits, I believe some improvements can be made.
3) Shaunnessy can cherry pick the best employees from his former properties Railroad pass and Gold Strike.
1) Mgmt. doesn't own much and Guidici will be the largest shareholder. Could buy a control position on a big price dip. Although I think he wants to fix up the closed Sunset Klondike he bought.
2) Comp. plan based on EBITDA encourages acquisitions with debt. Should be based on EPS or ROE if deal is truly accretive.
We need an activist in this company. It's hard to sell it at 20% discount to NAV but who knows if the thing is gonna drop another 30% over the coming year?
It took Gordon and his team 3 years to take a portfolio that was a mess and give us a double. Don't you think he can do the same with underperformer CSG?
I'm pretty sure that if CSG had simply hired Gordon to be the CEO there, CSG would be ripping higher.
Not sure why the need to keep comparing MPEL to the other Macau stocks. There are thousands of companies you can buy who don't have to deal with a bad regulatory environment.
Why don't you try comparing MPEL with Echo Entertainment if you want to compare with a casino stock?
Apparently Squeezes prediction back in December that VIP tours would light up the reservation desks was just wishful thinking. Remember how we had to hear about the big "gift basket" for the longest time?
I guess the basket was full of nicotine gum and anti gambling pamphlets.
It's a no vote from me, too. They should be buying back shares if they are below NAV not issuing more. That is Capital allocation 101.
Are you guys gonna blame the womens world cup for the horrible numbers just like last year with the mens?
I don't know why you are so excited about manila. You have Clarence Chung running the show over there. He's had a 10 bagger in reverse with EGT. I wouldn't trust him to manage the gift shop.
Need more info on the deal. If it includes the building, land and the vacant land surrounding the property, then it could really be a steal.
If the current owner sells the business but leases the building to UWN, then it's a much less attractive situation. Or should I say not attractive at all.