I loved it at $7, had 4k shares. Sold all of 'em at $18. I dont like it anymore, too rich for my blood. Plus, what Tiz said is true, potential BK if Vegas cant get some more visitors coming in. WYNN is the safer bet and you get Macau exposure. Both very rich right now. Wait for a market pull-back to buy WYNN. But I dont recommend buying casino stocks either way, I'm staying away from the casino stocks.
*EDIT*
In fact, I hate almost everything American right now. Market is over-bought, Money Managers are chasing performance. They want to get retail back in and short the market. We'll see that happen when DOW 10,300 hits. Until then, it's still a race for performance. Just stay away from American stocks IMO. China is the safe bet, GDP still growing during a global recession. Shows its resiliency.
lvs has macau stuff too
commies changing the rules dragging on lvs and wynn today
According to The Wall Street Journal, residents of China's Guangdong province are now eligible to receive a visa to visit Macau only once every two months. Before October 1, visas were permitted once a month, and the new traffic limitation could weigh on the performance of Asia's Las Vegas.
commies changing the rules dragging on lvs and wynn today
According to The Wall Street Journal, residents of China's Guangdong province are now eligible to receive a visa to visit Macau only once every two months. Before October 1, visas were permitted once a month, and the new traffic limitation could weigh on the performance of Asia's Las Vegas.
Wow, I'm impressed. Mr Fibonacci over here, almost to a T. I've heard that number thrown around by some of the big boys, and I believe that's where we're heading now after hitting DOW 10K, not sure if there was an air pocket there or what, but i've heard it from at least four high-rollers, so I'm sticking with them. We'll probably be range bound for the remainder of the year, DOW 9800 - DOW 11000, S&P 1065 - 1200, Naz? All JMO of course.
either way though asia can't save the shareholders
vegas as a whole is a total massive pile of leveraged debt going belly up
lvs, wynn, and mgm will keep operating and such...but i'd be surprised if the common shareholders of those companies weren't cleaned completely out before this mess ends via chapter 11 restructuring....
wynn might be able to hang in there mgm and lvs look in deep with over 10 billion in debt
vegas as a whole is a total massive pile of leveraged debt going belly up
lvs, wynn, and mgm will keep operating and such...but i'd be surprised if the common shareholders of those companies weren't cleaned completely out before this mess ends via chapter 11 restructuring....
wynn might be able to hang in there mgm and lvs look in deep with over 10 billion in debt
revenues were crap on the gaming side of things the high margin portion of their business....echelon opening helped their yoy rev numbers.... And Macau numbers were weak....Asians typically don't like outsiders or it takes a while to reel them in....and time is something all these guys running short on
I like LVS and I don't think they are going BK. They sure do have a lot of debt but I think ol Shelly will find ways to right the ship. People love to gamble, love the resort experience and Asians love to spend spend spend at the tables. If there is even a glimmer of hope in the markets in 2010 both WYNN and LVS will survive. I'm not sure about MGM though. They are pretty much a Las Vegas based group and CC is going to pull money away from their other properties. May be time to sell the Bellagio to Uncle Steve. He's sitting on a big bunch of cash.
Not as pessimistic as Tiz but as always be careful with high beta stocks like LVS. Up days are fun. Down days make you want to jump off your nearest bridge.
Not as pessimistic as Tiz but as always be careful with high beta stocks like LVS. Up days are fun. Down days make you want to jump off your nearest bridge.
