SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Non-TechMGM Grand Hotel and Casino Symbol MGG


Previous 10 Next 10 
To: Randy Atkins who wrote (21)7/22/1997 3:47:00 PM
From: battle beast
   of 96
 
I wish I were, MGG already sucked me up dried (g)
P.S. how do you get such info?
P.S.S. expect MGG to go above 36+ tomorrow

Share RecommendKeepReplyMark as Last Read


To: battle beast who wrote (22)7/22/1997 4:55:00 PM
From: Steven W.
   of 96
 
Dear Mr. Beast,

Glad to see some volume leading on the up side. Also glad to see some activity on this thread. I hope you are right and we can break
into the $36 range.

I called Marriott the other day and asked if they had any hotels in Las
Vegas. The rep. said no, but they do access the MGM Grand.

He said they get over a million calls a year for Las Vegas. I have a
Marriott Miles card and the MGM would qualify for a stay. Cool.

Steve

Share RecommendKeepReplyMark as Last Read


To: Steven W. who wrote (23)7/22/1997 6:09:00 PM
From: battle beast
   of 96
 
I just called IR again two minutes ago, and was told that earnings will be announced at 8 a.m. Vegas time on 7/24th. Good luck to all

Share RecommendKeepReplyMark as Last Read


To: Steven W. who wrote (23)7/22/1997 9:15:00 PM
From: Randy Atkins
   of 96
 
"I called Marriott the other day and asked if they had any hotels in Las Vegas. The rep. said no, but they do access the MGM Grand."

Another coup for MGG. MGG will build a 1,500 room Marriott Marquis (plus a 500 room Ritz-Carlton), linked to the MGM property. This project won't go online until fall of 1999, but MGM is =already= in the Marriott reservation system.

--Randy

Share RecommendKeepReplyMark as Last Read


To: Randy Atkins who wrote (25)7/23/1997 8:32:00 PM
From: cboothe
   of 96
 
Are any of you guys going to use stops tomorrow? If so, at what
price?

Share RecommendKeepReplyMark as Last Read


To: cboothe who wrote (26)7/23/1997 9:06:00 PM
From: Randy Atkins
   of 96
 
MGG files for shelf registration for up to 2 billion in potential issuance of debt and equity securities...

biz.yahoo.com

--Randy

Share RecommendKeepReplyMark as Last Read


To: cboothe who wrote (26)7/23/1997 9:19:00 PM
From: Randy Atkins
   of 96
 
Stop? What's a stop?<g>

You don't want to be around if it goes below 32.

31.

--Randy

Share RecommendKeepReplyMark as Last Read


To: Randy Atkins who wrote (27)7/24/1997 7:45:00 AM
From: battle beast
   of 96
 
Is this good or bad news? Would the additional shares be dilutive?

Share RecommendKeepReplyMark as Last Read


To: battle beast who wrote (29)7/24/1997 8:36:00 AM
From: Randy Atkins
   of 96
 
Don't know at this point. There could be many scenarios; some could be great for MGG, others not so good.

Keep in mind that this is just a shelf at this point, i.e., the money is "on the shelf"; MGG may use the money for whatever purpose they choose, and in any amount. I suspect a chunk will go to build the new Marriott. This will put MGG with a total of over 7,000 rooms! MGG will be by far the largest hotel in the world.

The problem for MGG RIGHT NOW is that the street believes that Las Vegas has overbuilt. This is not true, but the street believes it and what the street believes is what determines the share price. One of the attractive features of MGG is that it has relatively less debt than the average for the sector. I'm not sure how the street will view going in debt to build more rooms that don't get rented...

The REAL problem for Las Vegas is a MAJOR bottleneck at McCarren. The reason that Las Vegas is only 85% occupied is because the customers can't get there. Gamblers are impulsive. Used to, you could pick up the phone on Friday night and hop a plane to Vegas on Saturday morning. Can't do it anymore. There's not enough seats on the plane. This will be worked out over time as LV is currently building new terminals as we speak. But for right now, it is too hard for patrons to get to LV.

The additional debt will most certainly be delutive if MGG doesn't add to the bottom line. BUT Las Vegas is the convention center of the world. MGG wants to be the place where every conventioner lays his/her head at night. It could pay off in spades for the shareholders.
In Las Vegas, bigger is definitely better. Ever since Ben Siegel built the Flamingo and ran out the sawdust joints, it's who can put on the biggest show that gets the business. The battle is between MGG and MIR. Siegel was a visionary. So is Kerkorian. Did you know that just about every group in LV passed on the New York venture? Kerkorian saw it, and it is paying off big time.

More than the debt issue, what we REALLY need today are some good numbers, and a positive phone call.

Sorry for the ramblings...

--Randy

Share RecommendKeepReplyMark as Last Read


To: Randy Atkins who wrote (30)7/24/1997 10:00:00 AM
From: Randy Atkins
   of 96
 
HOLD ON, BOYS AND GIRLS, WE'RE OFF TO THE RACES!!!!!

ALL-TIME RECORD!!!!!!!!!!

-Randy

Share RecommendKeepReplyMark as Last Read
Previous 10 Next 10