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   Non-TechMGM Grand Hotel and Casino Symbol MGG


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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?

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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

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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

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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?

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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

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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

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To: Randy Atkins who wrote (30)7/24/1997 12:23:00 PM
From: battle beast
   of 96
 
Thanks for the in-depth analysis. By the way, earnings came out this morning (no surprises) and the stock is essentially flat. Interesting....

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To: battle beast who wrote (32)7/24/1997 12:39:00 PM
From: Randy Atkins
   of 96
 
BB, we should not expect a gap up. Remember that the street still hates this stock.

The pressage of time will push this baby up.

Let's all have patience. This could be a real winner for us.

I am VERY pleased with the earnings. I just came from the conference call. It was very POSITIVE.

LONG LIVE MGG!

--Randy

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To: Steven W. who wrote ()7/24/1997 6:21:00 PM
From: cboothe
   of 96
 
Randy,

What do you think will happen with MGG tomorrow? I'm kinda surprised
we closed lower on a record earnings announcement?

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To: cboothe who wrote (34)7/24/1997 8:15:00 PM
From: Randy Atkins
   of 96
 
I think we could move sideways, maybe even dip a little from the gain of the last couple of days. I think the street will need some time to digest and sort out the debt issue and its' consequences. The debt issue is complicated and makes a new variable that we didn't count on just 24 hours ago. I want to reinterate that the analysts really do not understand this sector or more importantly, MGG. They look at the sector and lump all players in it together. The sector REALLY DOES suck; CIR is down, the Boyd Group stinks, the stations' casinos are horrible, Debbie Reynolds' casino just filed for bankruptcy, LV Hilton is half empty and the remodeled downtown area is marginal. However, MGG is a winner.

I don't want to sound like a smart-ass, but look back at my previous posts...everything I said came true; New York New York continues to shine, gambling earnings improved (especially bacarrat), occupancy revenue actually increased; and its because MGG is pulling from Luxor, Excalibur, Hilton, and other crappily run properties. All of this during a TOUGH quarter. I could see all that ahead of time and I'm just a country bumpkin down here in Lubbock, TX. The analysts remain suspect and ignorant. Speaking of ignorant, you wouldn't believe some of the stupid questions that came in from some of these brokerage houses during the conference call. Some of the guys fumbled so badly with their questions that Yemenidjian had to help them out and lead the question so that he could give an intelligent response.

For these reasons, I don't think we will see any kind of quick runup, but I do see a slow and steady increase over time. I'm going to park my money here for awhile and continue to accumulate. Unless I am missing something, I don't see anything in the debt plan that will be adverse to us. In fact, I am very excited about their plans. Listen to the call, you will see what I mean. There is much opportunity here for improvement with very little downside.

--Randy

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