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   Non-TechMGM Grand Hotel and Casino Symbol MGG


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To: UNDERTAKER who wrote (71)1/9/1998 12:14:00 PM
From: Steven W.
   of 96
 
Got back into MGG today. I probably jumped the gun, but at $34.3625,
the upside looks better than the downside. This month is going to be
rocky for stocks.

I'm holding on for at least $40. At estimates of $2.25 for the year,
this is looking pretty good.

Best of Luck,

Steve

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To: Steven W. who wrote (72)1/11/1998 1:55:00 PM
From: UNDERTAKER
   of 96
 
I'm waiting to see how this Asian thing gets played out. Casino stock earnings will be affected greatly by the Asian outcome. Casino paper might evan be a good short in the coming months.

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To: UNDERTAKER who wrote (73)1/17/1998 5:46:00 PM
From: Steven W.
   of 96
 
This stock is going up. Earnings look good and lots of cash. I guess
$34 looks pretty good right now. $45 is not far off.

Steve

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To: Steven W. who wrote (74)1/17/1998 9:12:00 PM
From: UNDERTAKER
   of 96
 
Hi Steve $45 would be just dandy. The company has nice cash flow to boot.

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To: UNDERTAKER who wrote (75)1/29/1998 2:02:00 PM
From: battle beast
   of 96
 
I have concluded that MGG is the Rodney D. of casino stocks. Earnings came out today at 58 cents (which is really good) but no explosive gains on an up day.

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To: battle beast who wrote (76)2/3/1998 7:50:00 AM
From: Steven W.
   of 96
 
Mr. Beast,

MGG usually does nothing after earnings are released. When they do
beat the street, a few days later the buyers come in. MGG is under
pressure because of vacant rooms in Las Vegas.

This will not effect the MGG in the near term because of NYNY being
hot and Marriott recommending MGM Grand in their reservation system.

I love trading this stock. This company stock price is way undervalued. It is a $50 stock. At $2.20 esp past earnings and even
higher for future earnings.

I bought some yesterday, I am holding these shares for a while. Hold
for a year and you should be happy as long as there is not major stock
market event. Just my thoughts.

Steve

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To: Steven W. who wrote (77)4/6/1998 8:54:00 PM
From: Jon Dough
   of 96
 
MGM Grand is a great deal at $35. Although over the next year or so, earnings growth will be limited because of the upcoming competitiveness in the Vegas market (Bellagio, The Venetian, Paris, and Mandalay Bay), MGM has foreseen this and is spending $700 million to upgrade its flagship property. This will give MGM the ability to hold on to its market share when all the new places open. I don't expect the renovation to increase their market share or earnings, but it will let them hold on to what they have now. MGM also owns half of NYNY and this is one of the best properties in Vegas. NYNY will hold its own when the new resorts come online.

The only way a casino's profits can substantially increase is by building (or acquiring) new properties. MGM will be building in Detroit and Atlantic City soon. They'll be in a great situation in Detroit, having one of the three precious gaming licenses. In Atlantic City, they'll be one of the new Vegas-style properties that Atlantic City currently lacks. Atlantic City casinos are currently warehouses for gambling. The "big" attraction there now is the new "Wild West" themed casino area at Bally's. The gamblers all flocked there for something new and fun, putting big profits on the bottom line of Bally's. Just imagine what MGM can do with an entire entertainment-themed resort there.

The MGM CFO expects 1998 earnings in the $2.00 to $2.10 range. That gives a forward P/E of about 17. Right now, investors are focused on the upcoming Vegas competition and have depressed MGG's price, but they haven't factored in the growth from Detroit and Atlantic City. In a few years, MGM will be one of the premier diversified gaming operators. With this kind of upside potential, MGG at $35 is a bargain. It's only a matter of time before investors look beyond the short term supply concerns in Vegas and see the big picture.

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To: Jon Dough who wrote (78)4/6/1998 9:07:00 PM
From: Jon Dough
   of 96
 
Wasserstein Perella Group (merchant bankers) today initiated coverage of some casino stocks:

MGM Grand: Buy
Primadonna, Harrah's, Mirage: Hold

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To: Jon Dough who wrote (79)4/8/1998 2:53:00 PM
From: Jon Dough
   of 96
 
McDonald & Co. today initiated coverage of MGG with a buy rating. 12 month price target is $43.

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To: Jon Dough who wrote (80)4/10/1998 2:20:00 AM
From: Jon Dough
   of 96
 
Detroit City Council approves MGM Grand Detroit

biz.yahoo.com

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