To: Jesh who wrote (43) | 11/20/1997 5:10:00 PM | From: capitalistbeatnik | | |
Stayed at the MGM and I have to report its not very well run. For players, much better odds can be found downtown at Binions Horseshoe, for young people looking for fun, the Rio is better (as are the rooms), and for roulette/internation the Monte Carlo and the upcoming Bellagio will be better.
It takes forever to get from the room to the floor and it is way too easy to get lost. The lobby cannot hold the foot traffic in the hotel. MGM should have learned from the 1981 fire about these kind of things. If there was ever a fire in this hotel, look out. |
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To: John Mireley who wrote (65) | 11/22/1997 8:43:00 PM | From: Steven W. | | |
John,
It was almost assured that MGG would get the green light in Detroit. Kirk's buddy Lee I. has some friends in Detroit. Being a former Board member of MGM might have had a little influence.
I have been out of this stock for over a month. I have been waiting on the sidelines for a buy signal. EPS is going to be average because of the $250 million upgrade to the MGM Grand's main property.
At around $40 - $42 it still is a great long term investment, but the short term makes me a little nervous.
Steve |
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To: Janet Madison who wrote (67) | 1/1/1998 3:00:00 PM | From: Steven W. | | |
Janet,
I think you will see a short term bounce back to $40 in January. This is a great long term stock to own. The MGM and NYNY are doing great. The NYNY is doing the best of any casino in Las Vegas.
They will be either selling more shares in the short term to pay for the Detroit Casino or taking on more debt. I would think since the stock is below $39.50, (the last issue price of outstanding stock) they would want to push the stock price back around $40.
This stock also has a ton of new Strong Buy recommendations on it. I plan on getting back in very soon. I think at the current levels the downside risk is less then the upside potential.
Steve |
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