Friday, October 8, 2010

Vegas, Baby!!!!!!


Where are all the bears on MGM now???  Hiding their scaredy little *sses as their Vegas marker gets called???

Vegas biz was up big on the strip. And the best play on the strip--that is--the company that is most leveraged to the return of the gambler--that is--the stock that can gore the shorts the most, is none other than MGM!!
A stock of course, that I hold, and own tons of cheap calls that aren't getting cheap anymore!!!

And what's better than getting paid, off of the shorts back!!

Vegas Baby!!!!!

And of course, another big position that I have is Mosaic--Oh My!!! Does that baby got legs today or what????

And how about the Mosaic Board of Directors.


It's takeover time!!!!!

Whooo baby!!!!

Gonna get some new suede shoes!!!!!


Anonymous said...


LV Strip Revs +21% in Aug, Mass Volumes Flat
Investment conclusion: Headline gaming revenue for Las Vegas in August was strong, driven primarily by high-end Asian play. More importantly, we note that core mass volumes remain at trough levels. With mass revenues at historically low levels, high-end baccarat revenue, which is seasonal and volatile, has increased from 12% of total revenues in 2007 to 20% in 2010 YTD (30% in August.)
Overall, data from August lends support to our view that: leisure spend on the LV Strip, the core component of a recovery (regardless of recent group-focused commentary), likely will continue to tread along trough levels. That said, we do project sequential seasonal improvements through 1Q11 in LV.
What's new: According to the Nevada GCB, headline LV Strip revenue increased 21% y-o-y in August on an easy -9% comp. Adjusted for hold, revenue was up 23% y-o-y, an improvement from July’s result of 8%. Gaming volume increased 18% y-o-y, consisting of a 1% decline in slot handle (slight improvement over YTD results) and 46% increase in table volume, including +7% excluding baccarat (strong improvement.)
Excluding baccarat, total gaming revenue was up 13% y-o-y, but total volume was up only 1%. Baccarat volume increased 87% y-o-y, and baccarat win (representing high-end play) increased 47% y-o-y.
LV Locals revenue was +3% y-o-y in August, following July’s -16% result. Volume declined 4%, inline with July’s 5% decline. We continue to believe that the LV locals market will lag a recovery in other gaming markets. We note that BYD generates ~40% of its EBITDA from this market.
Looking ahead: The September comp continues to be relatively easy at -4%. Comps begin to get tougher starting in November.

Anonymous said...

thanks again for that information

any thoughts P?

Palmoni said...

Thanks for the above post

I'm in an area where I have real spotty reception

I've been in MGM a while--but luckily I bought some calls before this move

But I'm a trader--Wall Street always has the news--it's the reaction to it--is where the money is made.

I just think that a whole bunch of people were leaning against this market--in fact--I believe they were trying to start their own version of another flash crash--they have the HFT that fight amongst themselves to try and make it worse as no-one believes the market should be higher--when in fact it should be much higher.

It's bubble blowing time--and QE 2 is just a big excuse to prod the animal sporots--and there is nothing loke fast money to get them going--so I guess I'm in that camp.

I just think that it starts getting disorderly on the UPSIDE--the exact opposite of all the folks who thought things were going to get disorderly on the downside

because that is what they planned for and that is how they were positioned!

Anonymous said...

How far higher you see MGM, Palmoni?

Palmoni said...

15ish on Monday!!!

Anonymous said...

is it time to let go then?

Palmoni said...

i think the stock goes to 22--in maaybe six months so still alot of upside

Palmoni said...

that being said I'm going to have to flip some October 12 and 13 calls just like I flipped some MOS October 60s today..

it depends on what you are trading--the stock--I don't sweat that but if your playing options and you play the fliers--well I take those off when the stock spikes