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Caesars (Harrahs) going public
| February 5th, 2012 at 9:50:21 AM permalink | |
| Boz Member since: Sep 22, 2011 Threads: 11 Posts: 143 | The stock starts trading this week (CZR) and CNBC is saying it will open between $8 & $10 a share. With the debt load they have and no Asian locations, I dont see much opportunity here. Anyone else? |
| February 5th, 2012 at 10:04:49 AM permalink | |
| Wizard Administrator Member since: Oct 14, 2009 Threads: 312 Posts: 6757 | That is a fair about no presence in Asia, which is where the big profits are. However, I would like to say that I owed Harrah's stock from about 1998 to 2001. In that time it did very well, I think the best stock I ever owned. Sometime after that they were no longer traded (what is the term for that?). You also have to give them credit for their business plan of buying troubled properties at fire sale prices. Their casino in Punta del Este, Uruguay, I was very impressed with. Sorry for being vague. Without looking at any specific numbers my hunch is that their stock is a good long-term buy. It's not whether you win or lose; it's whether or not you had a good bet. |
| February 5th, 2012 at 11:14:25 AM permalink | |
| s2dbaker Member since: Jun 10, 2010 Threads: 34 Posts: 1214 | It's no wonder I can't get a slot machine to pay out here! Harrah's management is trying to juice their numbers ahead on the IPO. |
| February 5th, 2012 at 12:19:32 PM permalink | |
| Boz Member since: Sep 22, 2011 Threads: 11 Posts: 143 | Here is a link to a story about it. Most of what I have read is how small of a percentage of the company is being made available. I do believe the best thing they have going for them is brand loyalty and so many people from local CZR casinos think of them first when traveling to Vegas and other cities. They provide easy comp rooms, which is all many people see while missing the poor table game rules. http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/02/bloomberg_articlesLYRNOO6JTSEC01-LYSA9.DTL |
| February 6th, 2012 at 7:50:54 AM permalink | |
| AcesAndEights Member since: Jan 5, 2012 Threads: 11 Posts: 578 | Hmmm, tough call. As a gambler, I really dislike Harrah's/Caeser's because of the (in general) terrible table game rules. But as a potential investor, I know the bad rules will pad their bottom line and the casual tourist won't know the difference. I am not a serious investor, but given that we are (hopefully) coming out of this little recession, I have been considering putting some of my savings in the stock market. Probably better to just buy up an S&P500 index fund, but it's tempting to try to find individual undervalued stocks and buy them. I probably shouldn't give in to the temptation since I don't actually know what I'm doing. "Life's a bitch and then you die. Or seven out." -AlanMendelson |
| February 8th, 2012 at 12:00:19 PM permalink | |
| RaleighCraps Member since: Feb 20, 2010 Threads: 29 Posts: 601 | Sooooo, CZR opens at $9 and, defying all reason, is trading at $16, up >70%. Just goes to show that sometimes bad bets do pay off. Anyone want to claim they made this bet today ? I sure didn't. Always borrow money from a pessimist; They don't expect to get paid back !
Be yourself and speak your thoughts. Those who matter won't mind, and those that mind, won't matter! |
| February 8th, 2012 at 12:30:20 PM permalink | |
| rdw4potus Member since: Mar 11, 2010 Threads: 57 Posts: 1975 |
I take the over on IPOs pretty regularly. It's almost a sure thing. I stayed out of this one, though - I already give CZR enough of my money:-) "So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett |
| February 8th, 2012 at 1:43:31 PM permalink | |
| Paradigm Member since: Feb 24, 2011 Threads: 14 Posts: 213 | LVS or WYNN are way better stocks to own in the space. The only question with CZR is when is the right time to short this stock. It will be under its IPO price by this time next year, IMHO. |
| February 8th, 2012 at 1:54:29 PM permalink | |
| teddys Member since: Nov 14, 2009 Threads: 100 Posts: 2721 | Heh. Only makes sense if you bought and sold your position today. I think the "buy and hold" investors will have a tougher time of it. By the way, Sands is up from $1.99 to $50 a share since the depth of the bust in 2008. So there's a longer-term example. "If you can make one heap of all your winnings / And risk it on one turn of pitch-and-toss / And lose, and start again at your beginnings / And never breathe a word about your loss..." -Rudyard Kipling |
| February 9th, 2012 at 9:59:20 AM permalink | |
| slyther Member since: Feb 1, 2010 Threads: 8 Posts: 383 | No CZR shares available for shorting at my broker yet. |
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