Check the price on 2/13/2014 the day you said "We are adding this morning".
Step up to the plate and own it like a man.
squeezetracker • Feb 13, 2014 9:59 AM
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If I were trying to find something to quell our enthusiasm for the shares, I'd focus on mass hold being so superior... but their comments on the subject, including sustainability, were brilliant, as was Ho's inclusion of his players.
We also focused on two other points. First, none of the Asian analysts (or Bain) expressed any concerns over China's economy and banking/shadow banking system. Second, listen carefully to what they said about combining Jan and Feb to look past Macau's GGR results for January... and note the commentary that CNY book is significantly better than last year and that already the VIP and premium players are returning to Macau and that they are very please with the prospects for further progress this year (even before Studio City comes online).
We smiled to hear every analyst congratulated mgmt on a superb Q. They should have! One of the last analysts on the call (Citi I think) suggested that he thinks the Q was "great, really great job" and that they have consistently delivered outstanding results for the entire three years he has followed the Company. Anyone reading our posts over that same timeline knows we have the same view.
We are not advising anyone here, but longs should consider listening to the call before selling out any shares. We are adding this morning despite the tough broad market tape painting, and we are quite certain the box hedge shorts will be coming off as gently as possible over the next couple of days. Those pm who were careful to protect the bump up from the double bottom retest of the 50d ema are sophisticated enough to understand they don't want that offset to the long on rolling forward. Less
Squeeze keeps quoting Ho as if he is some kind of genius. The guy wasted a half billion dollars of shareholder capital buying back shares at much higher levels.
The SEC filings say ALLOCATED 400 tables.. If you are allocated 300, moving 100 doesn't fix the covenant breach.
In the event that the Studio City Project is allocated fewer than 400 tables, we may not be able to meet certain conditions and requirements of the Studio City Project Facility.
These paired trades are for nickel and dimers. You'll never hear any rich investors wasting time with this stuff.
I don't ever recall Warren Buffet going on CNBC to say he is shorting $16 billion of pepsi in a paired trade to hedge his core position in KO.
Now that I've had a chance to frequent this place a bit, I feel they are pretty darn good with the promotions.
I've been getting free play and food offers to keep me going back.
They offer a free lunch to veterans very early in the month. In august it was on 8/3. There are a lot of retired military in Henderson and I believe this free meal gets them in the casino right after the pension check arrives!
One thing that needs work is there is no drink service at all on graveyard during the week, out on the floor. Drinks at the bar only. Don't even need a waitress for that as one of the competitors has the slot attendants deliver drinks.
You're gonna get shareholder lawsuits if you shift tables from a 100% owned entity to a 60% owned entity.
They will get the waiver, but it won't be free.
Well they did mention reductions in force so there is some sense of urgency.
However, with 4 out of the last 5 quarters of higher than expected mortality, they need a change. You can't fix a problem if you don't think there is a problem. Hopefully Standard General or Morgan Stanley will ask for a seat on the board.
I posted it when I covered my short back in May. Feel free to check.
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.