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.
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?