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it might interest y'all to know
that it's Citigroup accepting all these sells from UBS
SBSH = Citigroup Global Markets Inc.
Creede -this you?
1:11:10 PM Trade 0.15 5000
I wish I could lift the rest of that offer
I agree
given all that has happened, and even "bad news" yesterday, and especiallly on March 11, the stock is still active and managment says it is commited to the project, etc. etc. the price is good; money flow is actually picking up, and we had a positive close above all 4 of the past 4 consecutve closes today
the recent seller was whoever had an account with UBS and sold on the news (Level 2 mkt maker), it doesn't matter who; he's out of the way now, and now we can keep going up more easily
price was positive
after your purchase, then someone bought 5000 at .178
no one really cares, except that person who panicked yesterday, anout more people leaving the board
this makes me feel more confident about the new board idea and a singular investor
ending positive on bad news
what do you make of that?
the info is good
campion: you think I'm a pumper, so you don't get the answer, except that it's both reasons
Jack Binion as Myriad CEO, can you imagine
the stock would open at.... 4 8 10 the next day
who know, if that happens, I won't be selling, I'll be buying more
REGULATORY APPROVALS
- check out the $290M tourism sales tax rebates; also $71M in other tax incentives that goes directly to MYRA
On March 16, 2006, the Mississippi Gaming Commission approved the revised gaming site and site development plan of the Myriad-Tunica project for 24 months, renewing the approval originally granted to Myriad-Tunica in June 2004. Any such additional casino developments would require Mississippi Gaming Commission approval before construction could begin. On April 21, 2005, the Mississippi Development Authority granted approval to Myriad-Tunica for participation in the Mississippi Tourism Incentive Program and awarded it a Mississippi Tourism Incentive Certificate (TP-016) making it eligible to receive up to $290,950,000 of sales tax rebates, effective during the first ten years of operation, collected from revenues generated from family-oriented operation of its proposed resort development. The amount awarded was based on a formula that qualified 35% of the capital invested in family-oriented components of the resort to be eligible for rebate. On July 8, 2004, the Board of Supervisors of Tunica County, Mississippi, approved an easement for the Myriad-Tunica project, which permits a roadway to be constructed through the property leading to the resort entrance. Previously, in April 2003, the County of Tunica issued a support letter offering appropriate tax incentive and the use of revenue bonds to help Myriad-Tunica to
it would be very valueable
but I'd take $8 or 6 or 4 in the morning in a heartbeat
i've got alot
good, because I did
- that's my email: davidkleinusa@yahoo.com
good float yes
duh, for some reason I didn't get it
yup outstanding shares is okay. very light trade, any good news sends it up in a hurry.
of course Lopardo could issue some new, but it doesn't matter that, unless it's quadrupled which is doubtful
I think he's going after the whales on this one. why not, why mess around? you can see that he doesn't.
would you believe me if I told you I spoke with him the other day?
what about this math?
they buy the whole shell for $8 a share 362/45M; crazy best case scenario
let's look at the Macau numbers on the post I made earlier.
took 4 years to recoup 400M and make 1.4 $B profit; let's say in tunica it takes half of that. 600M profit two years
$300M 1 year, which is how long it would take to get new regulatory approvals, etc.
so now we look at the discounts in this light. buying Myriad for $6 $4 $2 dollars a share 75/50/25%:
$2 would save $206M, $4 would save $120M, $60M would save $30M
let me comment on that in a sec
I have to ask you, I am missing your anacronym. what do you mean by o/s?
good thought
that would be an easy solution instead of going through the county board and the gaming commission all over again
which is great, because: if, then they are working on it now
and barring any real bad news, I'll be buying and holding all year
here's some Macau numbers that Jack Binion helped build
I hope it's really true that he partners with Myriad
CRAIG STEPHEN'S THIS WEEK IN CHINA
Macau's big spenders break new gambling records
Commentary: Business strong, but junket competition makes life harder for casinos
By Craig Stephen
Last update: 10:06 p.m. EDT April 20, 2008
HONG KONG (MarketWatch) -- If there is a global credit crunch going on, no one told the gamblers in Macau who sent casino takings soaring 62% in the first quarter of the year to 29.8 billion patacas ($3.8 billion).
This means Macau generated double the gaming revenues of casinos on the Las Vegas Strip in the first two months of the year, official statistics from both jurisdictions reveal.
Arriving in Macau today, the skyline of glitzy casinos that have sprouted along the waterfront certainly makes an instant impression, never mind the mega Venetian project in the adjoining Coati strip.
When the government deregulated the gaming industry in 2001, the biggest names globally threw their hats into the ring. Sheldon Adelson and Steve Wynn -- to name a few -- all promised to build the boldest and brightest gambling palaces their egos and balance sheets would allow.
That they did, but competition in Macau has a different complexion than it does in Las Vegas, as here you're dealing with big money mainland gamblers. In Macau, the trump card is not the flashiest casino but he who has the junket operator in tow, bringing the high rollers in the door and lending them gambling chips.
Junket operators are the prime brokerage of these big spenders, who think nothing of dropping HK$10 million plus in a night. And under Macau's laws, casinos are prohibited from lending money directly to gamers.
What is surprising is the size of this so called 'VIP high roller' segment of the market. Latest figures show VIP baccarat again led expansion as casino winnings from high rollers soared almost 70% to 20.8 billion patacas, according to data released last week by Macau's Gaming Inspection and Coordination Bureau. VIP baccarat makes up 73% of all casino revenues, up from 67% a year ago
But beneath these jaw-dropping numbers, competition for gamblers is heating up, and with that, casino margins are taking the strain.
A new Credit Suisse research report says junket operators who determine the casino allegiance of their high-rolling gamblers are increasingly key to changes in market share, and therefore to gaming turnover.
In upcoming results for the first quarter of 2008, the investment bank warned to expect plenty of positive and negative surprises as the latest junket deals shake up the market.
For instance Melco PBL's (MPEL
melco pbl entmnt ltd adr
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MPEL) has seen high rollers converging at its newly opened Crown Macau casino after cutting the junket operators a chunkier commission check on VIP gambling chip sales last December. While this secures turnover, the flip side is that it cuts into margins, as junket operators can take 40%-50% of casino earnings.
Galaxy Entertainment Group (HK:27: news, chart, profile) appears to be one of the casualties, as it reported a quarter-on-quarter fall in earnings last Friday. It plans to fight back with a new junket alliance and expanded "jumbo" VIP gaming operations.
Credit Suisse notes Las Vegas Sands (LVS
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LVS) raised its junket commission rate in February and cautions that rival Wynn Resorts Ltd. (WYNN
wynn resorts ltd com
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WYNN) could be at risk from a junket defecting.
Early mover Sands Casino, part of the LVS group, should be in a better position to be loosen its purse strings, as its accounts reveal it long ago recouped the $400 million investment in the casino. It has now generated over a billion pre-tax dollars since 2004.
So far there seems little sign of these junket operators running into liquidity problems like the more illustrious names in prime brokerage world.
One of them, Dore Holdings (HK:628: news, chart, profile) , however, has seen its share price lose 70% despite receiving an outperform rating from Credit Suisse. Perhaps Macau is soaking up some of the hot money flows finding their way into China -- last week had officials of the State Information Centre complained there was US$80 billion of capital unaccounted for in the first quarter.
Still, given that this is an industry so dependent on leverage, it would be advisable to watch for any signs the credit squeeze might show up in Macau's gaming halls. And while gamblers might have plenty credit, casino operators face some other headwinds, such as rising costs, steep inflation and tighter liquidity.
Eventually the casino operators plan to diversify so their gaming revenue and junket businesses will be balanced by other revenues.
The Venetian is firmly focused on conferences, retail and entertainment as well as gambling, and another seven hotels and 20,000 hotel rooms are planned. This is at least handy for Hong Kong residents, who now get to see music acts that previously gave this region a wide berth.
There may be plenty of growth to come in Macau, but expect results that show the tide of gambling patacas aren't lifting all casino operators equally.
think Jack Binion is looking for something to do?
In July of 2006, Jack became chairman of Wynn International. His responsibilities included opening the Wynn Macau. He has since resigned the position but has remained with Wynn Resorts in a consulting role.
http://en.wikipedia.org/wiki/Jack_Binion
I've heard the same. I work here. It's all over the casino floor.
It's all about that property north of the Horsehoe casino, and some talk also about Fitzgeralds area where Treasure Bay used to be.
If Jack and Lopardo hook up, watch out. Everyone here loves Jack, so does everyone in Vegas.
Rumour is that Jack has been interested in Fitzgeralds for sometime, wanting his own poker room ways back from the Harrahs deal. I think he'd love to just come over the top of Harrahs and build the biggest and best right here.
Maybe Myriad and Binion buy the whole Fitz property and lay it out there. Imagine Jack wanting 10M in stock or something like that, and getting it.
Elizabeth Meister was fired April 1. It just hit the SEC filings today.
I think Nick Lopardo wants to hire a whole new cast.
i am speculating here:
there's a plot of land between Fitzgeralds casino and the Gold Strike and Horseshoe complex here, about a square mile, which is 620 acres, this plot is about 500 acres, where Treasure Bay Casino used to be (Myirad would have to lay the golf course on the other side of the levee or in front of Fitzgeralds)
they might be looking at this location for various reasons:
it might be cheaper
closer to I-69 which flows right into it
already approved for gaming
the site woud share or take existing casino population
financiers might have incentives for this area more than the Indian Mound Road location
or; the original land deal will go through
in any event, I am sensing a change in the plan
and, why hasn't the stock already sold off? that's your best indicator
in fact, technically, the price is supposed to rise soon on the Money Flow and MACD indicators
look at last three months for money flow, and for macd, look at a three year weekly chart
no insider selling is the best sign yet though
I think something good is in the works
i meant to say, in agreement, that: "they were standard warnings weren't they?"
they were warnings weren't they. granted there are risks in this company, but the author of this article jumped up and down on it like it was fire ants crawling over his shoes or something
I still own, and am looking to buy more on any good news
money flow is... you decide
money flow is now positive and increassing. check the above chart link.
also you can look at the A/D in the iBox on this board
last post should read Lopardo HAS
Lopardo had more that 2 years left with Myriad. I can't imagine, with these incentives, and all of his pull from a 700B fund, colleagues, from State Street, that he wouldn't get this done. Read his employment agreement below, the last sentence is the real incentive:
On August 9, 2006, we entered into an employment agreement with Mr. Nicholas Lopardo, our Chairman of the Board. The term of the agreement is for three years. Mr. Lopardo shall earn a base salary of $400,000 per year, payable upon the Company securing $5 million in financing. Accordingly, upon effectiveness of this offering, we will begin to pay Mr. Lopardo’s salary. Further, Mr. Lopardo may be entitled to receive certain financing bonuses equal to 2% of the total proceeds raised in a debt financing and 3% of the total proceeds raised in an equity financing. Mr. Lopardo is also entitled to receive an annual incentive bonus. Moreover, Mr. Lopardo shall receive a total of six million shares of our restricted common stock.
you're right about the beginning and the end conflicting
and the article definitely feels biased, I had the same thought as I was reading it
it's pretty bad journalism, writing things like "who appears to believe" and not having had a conversation or a quote from the source
.
the article is misleading; i am too tired to go over all of it
but 1. it's not a 70M gamble, 'debt service' is contigent on financing.
2. firing Meeske was not a "further blow'
a positive" the fact that Myriad Mgt. was here doesn't mean that they are disembling, they're trying to buy real estate
you are basing Mrs. Meeske's willingness to answer the phone based on my posts. that makes a lot of sense.
you know, all the ones here making assumptions is laughable, mind readers I say!
I'll tell you what. don't read my posts. leave them to people who want to buy shares.
it doesn't matter that you would "love to know what is going on," because you will twist it into some doubtful revelation anyway. so believe what you want. I have no control over that. and I don't care. I did talk with Mrs. Meese, and will again. that's the last you get ladyluck.
those who really want info don't behave like you. I may be starting an independent site, invite only. send me your request if you want to, such as Creede and Greeparrot, to davidkleinusa@yahoo.com. tell me about your level of interest and what you hope to contribute
thanks
-David
it's in the 10K http://www.secinfo.com/d19aNn.tEe.htm
Recent Events
On March 11, 2008, the Company announced that Mr. John Meeske was terminated as the Company’s Chief Executive Officer and as a member of the Board of Directors. Mr. Meeske had served as the Company’s CEO and as a Director since May 2006. His termination was effective immediately and was based on actions conducted by Mr. Meeske that were inconsistent with his employment agreement, Company policies and procedures. The Company is currently investigating this matter further.
Consequently, Nicholas A. Lopardo, Chairman of the Board of Directors, has been named interim Chief Executive Officer until such time as the Company can locate a suitable replacement. The Company’s Board has begun this search.
i am only me - one ID, let's get past that
check out the form 4 filings, no sellers, even Beth Meister could have flipped her 250,000 shares. she still has them
also, look here, no director has sold a share in 12 months:
http://www.secinfo.com/$/SEC/Documents.asp?CIK=1042501&Party=CS&Type=4&Label=Statements+of+Changes+in+Beneficial+Ownership+of+Securities+--+Form+4
in fact, there was a purchase for 50,000:
http://pro.edgar-online.com/profile.aspx?ticker=myra
I also spoke with Ms. Meekse, about 10 days ago.
she said the same thing that you wrote, but I also got something else on the conversation: The Meeskes are not selling their shares. That means more to me than anything. We talked for about a half an hour.
nope
are you?
Ladyluck and all,
here is that early interview with Scott H. on "Heard it on the River" - and apparently, Myriad Golf is still part of the project, see the second link
http://www.myriadgolf.com/interview.htm
http://www.myriadgolf.com/indexb.htm
exactly, it would be a perfect fit. that's MYRA's point. it would dwarf all of the casinos here and take the market.
I believe that someone will realize this if they haven't already and build it. when? two weeks? two months? maybe after the Presidential election?
no one is crooked here. if anyone was, it was Scott H. he's out. Lopardo was a top exec at State Street for heaven's sake. Beth Meister has had her own marketing and hospitality business.
the existing board loves the Myriad idea. Tunica people love the idea. everyone here is aching for something to do, something new. it's all a matter of timing and getting people flying in here (hence new airport) and driving in here (hence new Interstate 69). {Disney world FLA was built over a swamp.) we've already got a market here. it will improve. Bally's and Resorts and the others will just have to go out of business when MYRA comes
and maybe businesses want to build when the economy is down. You know, in two years, which is how long it takes to build Myriad, the economy might be rip roaring. the time could be now. gas is high, but labor and construction contracts are cheaper than they were a year ago.