Im all in on WYNN

1500 shares at 23.00

 

Only just now feeling comfy with some of these bargains............

 

Taking a 2-3 yr approach on this one.

 

Will keep averaging down if neccesary , best balance sheet of any gaming co.............

I'll be watching this system closely

I was MGM Mirage last night in CT every table full.  I've never seen a casino so packed makes me think all those 3-9 months junk bonds are good.  Their not going under atleast in the next few months.

I like some of the debt being offered by MGM, why bother with the equity for now........The City Centre is an utter disaster.

 

 

Macau numbers actuall impressive, Vegas numbers abysmal, man is it bad out there.

 

If i can pick some up under 20 I will but I doubt it.

 

 

 

how about under $18? intraday low of $17.78 monday March 2nd

 

I think they will keep selling WYNN as a "source of funds" for gaming mutual fund redemptions. about the only stock in the sector with any price left.

 

btw, MGM at a new intraday broke under $3 @ $2.78

Yup , bought a bit today.

 

Debt news bad.

 

Im stuck now. Hope it does not go to zero.

 

i am with you bought in at $23.45  wondering when the freefall will stop. he is still in the best position on the strip. i have to think it will come back, this is a stock that was $150 18 months ago.

life - did you buy more, i just bought more today at 16.48 bring my cost average down to 19.98 a share, still free falling, i am done with this stock.

I added a little bit on my last post, I honestly don't know if I have ever seen such negative action on a stock.

 

Every day this stock is down 5 or 10 % , I mean every firggin day, selling just not letting up. We have not even gotten a "dead cat bounce" even on days the market is up.

 

One of the big reasons has to be because funds are selling this one to satisfy clients who are selling redeming their gaming funds. This is the only one that is worth anything anymore so it get's sold.

 

I really do like long term prospects but man is this scary.

with the miserable action in both MGM and LVS, which hit a low of 1.56 early friday,  you gotta figure that WYNN would get bashed too.

 

don't know what to say about the stock other than their probably in better shap debtwise than the others in the group BUT it STILL could get LVS - MGM nasty only because "when they raid the whorehouse, they take the piano player too.

sold off WYNN at 21.80 made 8.5% profit from when i bought in a month ago, still not as good as some of the experts around here (clay) who make 80% in a week , but I will wait till this thing goes back down to 16 before i think about getting in again. Vegas has some real problems IMO, every state is building their own casinos and the online competition is heating up

it will be interesting to see how much "march madness" traffic we get this year. in the past it's been a big month for the casinos.

Wynn to offer 7 million shares.

 

Is this a typo ? wtf is 7 million shares gonna do, they all ready have 1 billion in the bank and no debt coming due any time soon.

 

Has Steve lost his mind ? Can't find the logic for this one.

Wait, this weekend there was a report MGM was looking to break up the company, maybe Steve wants to buy Bellagio or Mandalay Bay and will use this money to do so.

 

Stay tuned.

 

 

 

somewhat suprised that WYNN stock is only down a fracton on this news although that's a very small offer considering there's 112 million shares out.

 

 

that's the rumor flying around Vegas although it's somewhat questionable what with Steve and Elaine getting divorced and that it would somewhat "dilute" his Wynn and Encore operations.

 

as lifemisspent said, "stay tuned". Steve's huge ego just might NOT allow him NOT to do a Bellagio deal considering he sold Mirage corp to MGM AT the TOP of the gaming market and could now pick up his former "prestige" property on the cheap.