Problem is it maybe news for this afternoon BUT wont be tomorrow or the day after or the week after & at 3X's EPS & huge growth Greed will make this much much higher.... Tim you have been around long enough to know these pieces are extremely short term & always reverse especially with no FACTS just opinion & conjecture as the theme .... Cover & go long you will make far more money
LOL of course it stinks. It is gambling in the "wild wild east" The junkets are the BIGGEST part of gambling in Macau and that is not going to change anytime soon. The whole system is basically based on them there. I was hoping for a better piece to get back in at a nice price.
edit: a bit of research would have yielded why the price was kept down, warrant overhang.
Can you at least post this joke of an article on seeking alpha or so? You know maybe there are at least some newbies who sell their shares in order for us to pick up some on the cheap? Btw, how is your short in LPH from 2.10 doing from back then when you advertised it on your homepage??
Sykes, in your B.S. blog, you portray the big casinos wanting no part of Macau and you state this ......
"Harrah’s also said no…Reuters continues:
Concerned that junkets with possible links to organized crime could harm their businesses, some U.S. casino executives were reluctant to enter Macau. Harrah’s Entertainment Inc , the world’s largest casino operator, decided not to bid for a gaming concession there. Michael Chen, Harrah’s president for Asia, said in an interview with Reuters last year that the company worried that its regulators around the world would not permit it to run casinos in Macau."
Oh really ???? Well look at what the CEO of Harrah's says now .....
Loveman’s way with the numbers, he admits, can also be a weakness. It was responsible for the worst decision he has made as CEO, a mistake he’s been trying to rectify for the past four years: his 2006 refusal to bid on a $900 million gambling concession -- and one of just six gaming licenses -- in Macau. He bought the golf course a year later in a belated attempt to get in on the action.
“The quantification on Macau took me in the opposite direction,” he said. “You had to have a kind of intuitive courage and I am not well suited to those kinds of decisions.”
Because he passed on the deal, Harrah’s is for now locked out of the industry’s most important emerging market. “Big mistake. I was wrong, I was really wrong.”
Missing Macau
Harrah’s, and Loveman, are still paying the price. As Vegas swooned, Macau boomed to the point where competitors such as Las Vegas Sands and Wynn Resorts are now making more revenue in the coastal Chinese city than they do in Vegas. As rival CEOs Steve Wynn and Sheldon Adelson of the Sands made the decision to pile into Macau, the numbers told Loveman to stay out.
“I try to be self-reflective of the fact that this is a short-coming of mine,” he says. “I am trying to address that vulnerability by asking myself over and over again if I am over- thinking the problem. Am I missing something?”
Hey Sykes ..... get your facts straight before printing lies.
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