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#1
02-20-2007, 03:31 PM
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Casino Stocks
Fast Money on CNBC will be talking about casino stocks tonight [Tuesday 2/20]. Personally, I don't trust casino stocks. It is a dirty business and I have seen the dirty underground street side of it. Just because you have a corporate name with stockholders doesn't change anything, in my opinion.
Do you guys own or would you own casino stocks? 
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#2
02-20-2007, 04:58 PM
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They've performed great over the past year mainly due to the buyout of Harrahs and Ichan buying a ton of shares of MGM. I've owned Boyd and Penn National Gaming which returned 30% and 15% over the past year. Nothing wrong with owning some long-term.
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#3
02-20-2007, 05:06 PM
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Long term? Now that's my language.
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#4
02-20-2007, 05:21 PM
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I owned Las Vegas Sands (LVS) shares for a couple years before selling last summer. Made a nice profit but I certainly could have made a nunch more had I held on to them longer. Most of the casinos have had such a big run up in share price I'd be cautious about buying in now.
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#5
02-20-2007, 05:38 PM
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A guy at work gave me a "hot" stock tip last year on MYRA. It is Myraid World Resorts. They are building a casino in Tunica, MS with an indoor golf course.
http://www.myriadworldresorts.com/overviewP.htm I was thinking about getting in on this when he told me about it, but I never did.
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