Hi Vegas fans,
I've never had a problem admitting when I'm wrong. I'm not too proud to say I'm sorry when I've made a mistake and to ask for forgiveness. And believe me, I've had some doosies. Especially lately. I'm sure I'm not alone in this.
So let me say that I hope that I'm wrong about Caesars Entertainment Corporation (CEC). I've been railing on them for years. Mostly because I don't like their gaming rules and policies. But they had their IPO this past week, and the stock went for almost $18/share. I'm rooting for them. I hope they raise the cash they need to make their venture very profitable. If this and their other investments pay off, they will have a pretty good claim as the #1 chain on the Strip.
Now on the one hand, that scares me because it might shut out good competition and therefore make gaming worse. But on the other hand, if they do this right, other properties will have to up their games or change the game, which may mean favorable results for players and Vegas travelers in general. In any event, I do hope that in a year from now, I'm writing a post saying that the CEC gamble worked, and I was wrong. Won't be the first time. Probably won't be the last.
Viva,
Mike
4 comments:
nah, your never wrong mike.
But to be honmest, sure czr may lower their massive dept with the stock,but I only think they will follow whats already been working for them. dont see any casino who is bringing in players anyway despite unpopular gaming would offer anything more of an advantage since they apparently managed to do ok with their current odds,tablke min and slot %. love it if they did but I dont see more 9/6 job or lower table min coming anytime soon.
but I am still one of those czr fans so ill keep playting there . I just hope the ipo helps eliminate some of their huge debt and cut down any chances of them having to cut back guest services,comps ect ect.
seems the stock has flattened out at around 11 bucks a share.
carrying an awfull lot of debt.
i chose to only invest in their slot fund
Ha! Good luck with your deposit next week...
hi mike. while in vegas this past weekend during a conversation with our host she mentioned one of her players came to town for the superbowl.well they bet on the wrong team and she said they lost a combined total of half a million betting on the game,but in regards to the stock, the player she spoke of jumped in when the ipo came out and recovered his superbowl losses by selling the stock he bought on day 1.
wow,must be nice huh?
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