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Old 10-18-2010, 12:18 PM
 
787 posts, read 1,777,770 times
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Looks like they're planning an IPO to raise cash to resume some projects: Harrah's IPO Seeks to Raise Up to $575 Million for Vegas, Ohio Projects - Bloomberg
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Old 10-18-2010, 12:54 PM
 
Location: North Las Vegas
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This article may give you and idea why the casino's are doing to keep a float, this article was in the Sun the other day.

Casino property debt game
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Old 10-18-2010, 01:29 PM
 
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Depending on the IPO price, I'd buy some shares. I'm looking for a Vegas play. LVS and Wynn have gone up a lot already and have moved their growth to Asia. That leaves MGM and Harrahs. I think the design of CityCenter is horrible and will be an anchor for MGM, even though it was a joint venture. However, Harrahs could be a good option if you think Vegas will recover. I like the LINQ idea.
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Old 10-18-2010, 01:44 PM
 
Location: North Las Vegas
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In case you didn't know Dubai world owns allot of CityCenter and Dubai needs to liquidate some of it's assests and one of them is their stake in CityCenter.
Dubai World may be considering sale of its CityCenter stake
News Story | Posted 08/26/2010 | By HOWARD STUTZ LAS VEGAS REVIEW-JOURNAL
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Old 10-18-2010, 05:16 PM
 
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When Dubai was trying to get out of funding CityCenter, I remember MGM's stock was plummeting. I wonder who would buy their share now?
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Old 10-18-2010, 09:46 PM
 
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City Center will do fine after they get a year under their belt and get the condos and mall closer to full. The buyer of the Dubai piece will almost certainly be private equity or sovereign wealth fund. One thing the gaming business has learned is joint casino partners don't really work out well over the long run.

Harrah's IPO probably will look good on paper because its a very limited amount of the company being "sold". When you have under 20% of any company floating in the market the demand to hold it tends to be bigger than the supply of trading shares.
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