http://www.fox5dc.com/news/local-news/dc-woman-wins-thousands-at-mgm-and-loses-it-all-over-casino-typo?fbclid=IwAR3m3gYlY3vfGftSlQ0PebwByqCfdw1A8q0H792YKCbo8FGg_IP7fAztxfY

Hi Guys,
My girlfriend and I are going to MGM casino this weekend for Memorial Day and I wanted to hear some recent feedback of the place. Reading online many people said it was very expensive table games. With limited tables going below $25. We are interested in Blackjack, Craps, Roulette and Pai Gow.
I would love to hear people opinion who went recently. Any decent dinner places?
Update: Thanks everyone for their advice and suggestions! This really is a great Washington DC community!

Hi all,
To celebrate the return of Undervalued to the Reddit community, I decided to put together a quick DD and post it on a stock that I have had my eye on for a little while. It's still a "work-in-progress" and I may potentially update it later on Reddit with more information or detail if I have time at some point in the future.
If you have any opinions, thoughts, or additional information, please share it. Positive. Negative. Neutral. All information is helpful and informative to the community. (I thought the feedback received from my first DD posted to this sub was quite helpful and I look forward to what you have to say.)
Thank you to u/BuyLowSellNever for turning the sub back on; allowing us to share and discuss ideas with the broader community in a thoughtful and respectful manner. Best wishes. - LA

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

2/9/21 Update: Additional info posted here

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price. Check out my DD below:
​
Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price.
Check out my DD below:
Funko (FNKO)
Share Price (02/01/21) : $12.90
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Hi everyone.
Funko is a great stock that I believe will do well this year. Internet search traffic for Funko has been increasing and is at all-time highs over the last couple of months. The company is selling more of their toys directly to customers through their e-commerce shop (which allows them to capture higher retail revenues than wholesale revenues). And demand for collectibles and toys continues to be strong.
Here is a DD I wrote on the company below. I would love to get your thoughts.

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

Last night while transporting a passenger from Arlington Virginia into Suitland Maryland, I saw 3 cars chasing each other then heard 9 gunshots on I-295
I had just jumped onto I-295 after passing MGM casino. There's a stretch before you get up to the DC Water facilities that is dimly lit. I was in the far right lane, doing about 40 mph. All of a sudden, three cars came speeding up on me but in the left two lanes. When they were about 300 yards ahead of me, I heard 9 gun shots. My passenger asked me "Ooooooh, what was that"? I told her gunshots. I dropped off the accelerator and dropped back even further. Those three cars continued speeding way up ahead.
I don't know if the shooter was aiming out the window, or aiming at the other two speeding cars. But, either way...I wanted to stay far away from them.
I continued my direction North...saw no car accidents, or heard any more gunfire.
My passenger and I were very lucky neither of us were hit, or were just a few seconds in front of these guys or there's a good chance we would be dead.
Be careful out there!

Hey guys.
 
So, this pandemic had me fiending for poker so for the first time in over 10 years I went through the hoops to start playing online. Some background on me, I've been playing poker for 15 years, almost exclusively in casinos. Started playing in Motor City while I lived in Detroit, then AC when I moved to Maryland along with a few clubs in the MD/DC area. During this time I started getting very good and a club sponsored me to play in other clubs against high roller celebs in what you could call an underground circuit. Alex Ovechkin was a common player, Tiger Woods popped in a few times for 2/5/10 and 5/10 games. After a few raids and Live finally opened up I stopped and just played there and eventually MGM since I've moved to DC.
 
In any case, I've been a winning player for the past 7-8 years but I can admit online is different. Props to you guys who are winning online players, you can walk into most 2/5 casinos and win with ease. I have no problem winning 2/5 when I play in DC or Vegas, but .50/1 is probably a little harder. It could just as well be the small sample size online and I am not losing by much, but I feel the talent gap for sure.
 
Any fellow live players feeling the same? Or am I alone? Shit maybe I just suck, lol ....

Hi All,
The wife and I are from Australia and looking to travel to America over December 2020/January 2021 for our first time. DecembeJanuary is the only time she can get a decent chunk of time off, so we can’t really travel at any other time. We actually prefer the colder weather, we travelled all over Europe (London, Paris, Belgium, Swiss Alps, Italy, Budapest, Germany etc.) in December 2018, and was pretty rushed, moving countries every 2-3 days (Part of a topdeck group). So prefer to be able to take a bit more time in each place this time.
We saw a travel agent on the week, we usually book ourselves (Which we will probably do again) but thought we would see what a travel agent recommended. Their accommodation suggestions were expensive (Around 8.5K AUD for 29 days) considering every place they recommended was minimum $250-300AUD per night. Looking at Booking.com/Agoda, there seemed to be a lot of cheaper alternate options close to where they recommended.
Length: About 4 weeks, Maybe 5? (A bit flexible on this)
Budget: It’s not going to be cheap estimating 15-20k AUD (Flights from Australia at this time are around 1.7-2k AUD each), including flights, accommodation, spending money…. But we can be a flexible on the budget.
Accommodation: We don’t want to stay in fancy and expensive places, we are more cheap AirBnB travellers.. As long as it’s clean, has it’s own bathroom/shower and in a good location we are more than happy with that because we are usually out 90% of the day when we travel
Things to do and see: We generally can plan and find our own things to do when travelling. The only things we are really set on seeing landmark wise are Alcatraz, Disneyland and The Grand Canyon. As long as there is good food and plenty to keep us busy, we are happy.
Itinerary:
Boston: 9th December to 12th December – Staying at Hyatt Regency Boston
We don’t really know much about Boston, was recommended by the travel agent. So we could drop this off to have more time in other places, or swap it for somewhere else?
New York: 12th December to 17th December – Staying at Holiday Inn Manhattan (Financial District)
I’ve spoken to a few people and they’re recommended extending the New York stay to at least 7 days? What's the best area to stay here, everyone seems to say Midtown?
Philadelphia: 17th December to 21st December – Staying at The Logan Philadelphia, Curio Collection by Hilton
New Orleans: 21st December to 26th December – Staying at Wyndham New Orleans (French Quarter)
San Francisco:
26th December to 30th December – Staying at The Cartwright Hotel - Union Square, BW Premier Collection
Las Vegas: 30th December to 1st January – Staying at MGM Grand Hotel & Casino
Anaheim: 1st January to 4th January – Staying at Four Points by Sheraton Anaheim
San Diego: 4th January to 7th of January – Staying at Solamar San Diego
San Diego was again recommended by the travel agent, so we are happy to either swap this or drop it off completely?
Travel agent also recommended driving from San Francisco to Las Vegas then Anaheim then onto San Diego?
Was possibly trying to get Washington DC in there too, but that was just an after thought.
Let me know your thoughts and if there are any places you recommend swapping, spending more time in or dropping somewhere off completely? We are pretty flexible with what we are doing and where we are going and more than happy for suggestions.
We were actually thinking of doing the West Coast first and then moving onto the East Coast. But the travel agent recommended it the other way around?
Where would be a good place to avoid on Christmas/NYE?

This is the best tl;dr I could make, original reduced by 64%. (I'm a bot)

U.S. stock markets fell the most since 1987 in early trading on Monday, having been suspended, limit down, almost immediately after trading started.
In Washington, DC. "That means the Fed can alleviate the symptoms, but it's unreasonable to expect the crisis to go away on Fed action."
United Airlines stock fell over 15% after saying it would slash capacity by 50%, while Delta Air Lines stock and American Airlines stock also fell heavily after the Trump administration expanded restrictions on arrivals from Europe to include the key routes serving London and Dublin.
Apple stock fell as much as 13% before rebounding to be down only 9.7% after the company said it will shut all its stores outside China.
Oil and gas stocks tumbled again as crude prices fell below $30 a barrel and U.S. gasoline prices fell to an all-time low of 69 cents a gallon.
Casino operators MGM Resorts and Wynn Resorts also both fell after the pair announced they would temporarily close.

Summary Source | FAQ | Feedback | Top keywords: fell^#1 fed^#2 stock^#3 down^#4 U.S.^#5
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Yesterday I went to the MGM National Harbor casino near DC, most people were really nice, lot of OMC, apparently they only play 5card plo, game was a bit nitty full of regs, well it was a tuesday, regardless I had a lot of fun, played the 125 tourney, fun hand from there I open QJo from CO ~26bb deep OMC instant shoves from the BU (he covers me slightly) 2 folds and I folded aswell, he shows As and said he was scared of raising and me hitting 2 pairs, thats my first OMC history. Would definetely go back even though its a 2:30hrs drive from Richmond.

MGM decides to raise resort fees even further, even as DC Attorney General is suing Marriot over resort fees....guess they are not backing down, or else figure they might as well grab as much cash as they can, while they can....
​

The lawsuit contends, “Marriott conceals the true total price of hotel rooms by advertising one rate, then charging mandatory ‘resort fees,’ ‘amenity fees,’ or ‘destination fees’ on top of the advertised price. At least 189 Marriott properties worldwide charge these hidden fees, which range from $9 to as much as $95 per room per day, and consumers only find out about these fees after they begin to book a room.”

​
https://www.casino.org/news/mgm-resorts-increasing-resort-fees-as-marriott-faces-lawsuit

2 tables open. 1 10 and 1 5 table.
Went to the 5. 10 players. 6 playing the dark side. None of the dark sides shot.
The 4 of us hit 4 points over the 200 I put into it. The dark side was making a killing.
The DC players were all very respectable, quiet and mostly were on the other side of the table from us pass line players.
The dealers were nice and keeping the game moving.
Just wasn't my day today. Same days you win and some days you lose. Was playing on house money as my wife hit a jackpot on slots yesterday so I cant complain.
Going to try heading to Gun Lake Casino and see if my luck is any better. I doubt they will have 5 dollar tables so I will have to play 10 very carefully with my small bank roll.
Edit: went to Gun Lake Casino (Wayland, MI). I was right 10 tables. 1 10 crapless and 1 10 regular. They have no feature bets here.
Table was pretty busy. 9 of us, 6 people playing the donts so 3 of us shot quite a bit. Both sides got some wins. Eventually the donts left the table after one of the dont guys kept saying 7 under his breath. It was cool to see DC player tell him it wasn't cool and made them look bad. They all kinda left not to be associated with him. Another 10 table opened and they went over there.
I bought in for 200 and played mostly the pass and 6/8. Couldnt hit a hard 6 or 8 after I parlayed the dollar, but it was fun.
Got down to just enough to play the pass and 6/8. I got on a heater and kept hitting 6 and 8 to get me back over 125. Went up and down from there with some points and some quick outs.
My wife won 175 dollars playing crazy fours, 401 at a slot and 250 on video poker after we hit four 2s. She gave me another 200 and I went back to craps. Leaving the table or changing my position changed my outcome. Got to ro twice hitting 3 points the first time (including 2 10s) and 2 points and hard ways the second time, I won 171 dollars. It was time to go, dropped 10 for the dealers and we left th casino up.
Today built my confidence to play at a 10 dollar table when we go to MGM Detoit and Windsor in a few weeks.

I’ll be at the MGM casino in DC analyzing my probability of default every time he cards get dealt.

Hello everyone! Figured we would keep a running list of the upcoming shows with times and the opening act since that seems to be a common question! The times should all be the local time. Please let me know any corrections. I will keep this updated with new dates and announcements!
Also figured I'd add a basic "schedule for the show" day since that seems to be a common question as well.
Day of show rundown

• Doors are at whatever time
• 8 PM - opening band should start
• 8:30/45 - opening act ends, set change begins
• 9 PM - The Killers come on
• 11 PM - The killers finish
• Please check your venue for actual times. Times are subject to change based on the band and venue, so these are approximations based on experiences of users from recent shows. I just edited it based on my experience as well as some more feedback from other shows.

Upcoming Tour Dates

Date	Location	Venue	Time	Opener
good	night	sweet	prince	:(

Past Tour Dates

Date	Location	Venue	Time	Opener
Fri, January 5, 2018	Toronto, Ontario, Canada	Air Canada Centre	8 PM	Alex Cameron
Sat, January 6, 2018	Laval, QC, Canada	Place Bell	8 PM	Alex Cameron
Sun, January 7, 2018	Boston, MA, USA	TD Garden	7:30 PM	Alex Cameron
Tue, January 9, 2018	Brooklyn, NY, USA	Barclays Center	8 PM	Alex Cameron
Wed, January 10, 2018	Washington, DC, USA	The Anthem	8 PM	Alex Cameron
Fri, January 12, 2018	New York, NY, USA	Madison Square Garden	8 PM	Alex Cameron
Sat, January 13, 2018	Philadelphia, PA, USA	Wells Fargo Center	8 PM	Alex Cameron
Mon, January 15, 2018	Detroit, MI, USA	Masonic Temple Detroit	7 PM	Alex Cameron
Tue, January 16, 2018	Chicago, IL, USA	United Center	7:30 PM	Alex Cameron
Wed, January 17, 2018	St Paul, MN, USA	XCEL Energy Center	8 PM	Alex Cameron
Fri, January 19, 2018	St Louis, MO, USA	Chaifetz Arena	7 PM	Alex Cameron
Sun, January 21, 2018	Duluth, GA, USA	Infinite Energy Center	8 PM	Alex Cameron
Tue, January 23, 2018	Miami, FL, USA	AmericanAirlines Arena	8 PM	Alex Cameron
Wed, January 24, 2018	Orlando, FL, USA	Hard Rock Live Orlando	8 PM	Alex Cameron
Fri, January 26, 2018	Sugar Land, TX, USA	Smart Financial Centre	7 PM	Summer Moon, Amanda Brown
Sat, January 27, 2018	Irving, TX, USA	The Pavilion at Toyota Music Factory	7:30 PM	Summer Moon, Amanda Brown
Tue, January 30, 2018	San Diego, CA, USA	Valley View Casino Center	7 PM	Summer Moon, Amanda Brown
Thu, February 1, 2018	Los Angeles, CA, USA	STAPLES Center	8 PM	Summer Moon, Amanda Brown
Fri, February 2, 2018	Los Angeles, CA, USA	STAPLES Center	8 PM	Albert Hammond Jr., Amanda Brown
Sat, February 3, 2018	Las Vegas, NV, USA	MGM Grand Arena	8 PM	Albert Hammond Jr., Amanda Brown
Mon, February 5, 2018	Broomfield, CO, USA	1stBankCenter	7:30 PM	Albert Hammond Jr., Amanda Brown
Tue, February 6, 2018	Salt Lake City, UT, USA	Vivint Smart Home Arena	7 PM	Albert Hammond Jr., Amanda Brown
Fri, February 23, 2018	Oslo, Norway	Telenor Arena	7 PM	Juanita Stein
Sat, February 24, 2018	Stockholm, Sweden	Ericsson Globe	8 PM	Juanita Stein
Sun, February 25, 2018	Copenhagen, Denmark	Royal Arena	8 PM	Juanita Stein
Tue, February 27, 2018	Berlin, Germany	Mercedes-Benz Arena	8 PM	Juanita Stein
Wed, February 28, 2018	Amsterdam, Netherlands	Ziggo Dome	8 PM	Juanita Stein
Sat, March 3, 2018	Paris, France	Zénith de Paris	8 PM	Juanita Stein
Mon, March 5, 2018	Koln, Germany	LANXESS Arena	8 PM	Juanita Stein
Tue, March 6, 2018	Antwerpen, Belgium	Sportpaleis	7 PM	Juanita Stein
Thu, March 15, 2018	Heredia, Costa Rica	Parque Viva	7 PM
Sat, March 17, 2018	San Isidro, Argentina	Lollapalooza Argentina
Sun, March 18, 2018	Santiago, Chile	Lollapalooza Chile
Wed, March 21, 2018	Asuncion, Paraguay	Asunciónico
Fri, March 23, 2018	Bogotá, Colombia	Festival Estereo Picnic
Sun, March 25, 2018	Sao Paulo, Brazil	Lollapalooza Brasil
Tue, March 27, 2018	Santiago De Surco, Peru	Jockey Club	7 PM	Royal Blood
Mon, April 2, 2018	Monterrey, Mexico	Arena Monterrey	7 PM	The Warning
Tue, April 3, 2018	Monterrey, Mexico	Arena Monterrey	7 PM	The Warning
Thu, April 5, 2018	Iztacalco, Mexico	Foro Sol	9 PM	St. Vincent
Sat, April 7, 2018	Guadalajara, Mexico	Corona Capital Guadalajara
Fri, April 20, 2018	Auckland, New Zealand	Spark Arena	7 PM	Alex Cameron
Sat, April 21, 2018	Wellington, New Zealand	TSB Bank Arena	7 PM	Alex Cameron
Tue, April 24, 2018	Christchurch, New Zealand	Horncastle Arena	7 PM	Alex Cameron
Fri, April 27, 2018	Boondall, Australia	Brisbane Entertainment Centre	8 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Sat, April 28, 2018	Sydney, Australia	Qudos Bank Arena	8 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Tue, May 1, 2018	Perth, Australia	Perth Arena	8 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Fri, May 4, 2018	Melbourne, Australia	Hisense Arena	7 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Sat, May 5, 2018	Melbourne, Australia	Hisense Arena	7 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Sun, May 6, 2018	Melbourne, Australia	Hisense Arena	7 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Tue, May 8, 2018	Hindmarsh, Australia	Adelaide Entertainment Centre	7 PM	Jack Ladder & the Dreamlanders, Alex Cameron
Fri, May 18, 2018	Gulf Shores, AL, USA	Hangout Music Festival
Fri, May 25, 2018	Boston, MA, USA	Boston Calling Music Festival
Sat, May 26, 2018	Napa Valley, CA, USA	Bottlerock Music Festival
Fri, Jun 8, 2018	Noblesville, IN, USA	Ruoff Home Mortgage Music Center	7 PM
Sun, June 10, 2018	Manchester, TN, USA	Bonnaroo Music and Arts Festival
Sat, June 16	Dover, DE, USA	Firefly Music Festival
Wed, June 20, 2018	Rome Rm, Italy	Rock in Roma Festival
Thu, June 21, 2018	Milano, Italy	I Days Festival
Sat, June 23, 2018	Swansea, United Kingdom	Liberty Stadium	7 PM
Sun, June 24, 2018	Ryde, United Kingdom	Isle of Wight Festival
Tue, June 26, 2018	Dublin, Ireland	RDS Arena	7 PM	Franz Ferdinand
Thu, Jun 28, 2018	Santiago de Compostela, Spain	O Son do Camiño Festival
Fri, June 29, 2018	Lisboa, Portugal	Rock in Rio Festival
Sun, July 1, 2018	St. Gallen, Switzerland	OpenAir St Gallen Festival
Fri, July 6, 2018	Werchter, Belgium	Rock Werchter
Sun, July 8, 2018	Glasgow, United Kingdom	TRNSMT Festival
Fri, July 13, 2018	Bolton, United Kingdom	Macron Arena	7 PM
Sat, July 14, 2018	Henham Park, Southwold, Suffolk, UK	Latitude Festival
Wed, July 18, 2018	Switzerland	Paléo Festival
Thu, July 19, 2018	Benicàssim, Spain	Benicassim International Festival
Sat, July 21, 2018	Paris, France	Lollapalooza (Paris)
Tue, July 24, 2018	Helsinki, Finland	Hartwall Arena	7 PM	Juanita Stein
Thu, July 26, 2018	Esch Sur Alzette, Luxembourg	Rockhal Luxembourg	8 PM	Juanita Stein
Sun, July 29, 2018	New York, NY, USA	Panorama NYC Festival
July 19-22, 2018	Wurster Nordseeküste, Germany	DEICHBRAND Festival
Sun, Sept 9, 2018	Vancouver, BC, Canada	Skookum Festival
Wed, Sept 12, 2018	Tokyo, Japan	Budokon
Thu, Sept 13, 2018	Osaka, Japan	Zepp Bayside
Sat, Sept 15, 2018	Singapore, Singapore	Singapore Grand Prix
Mon, Sept, 17, 2018	Bangkok, Thailand	Thunder Dome
Wed, Sept 19, 2018	Hong Kong	Asia World-Expo

Tickets on sale @ https://www.mariahcarey.com/tour
USA DATES:

• Feb. 27 -- Dallas, TX @ The Pavilion at Toyota Music Factory
• March 1 -- Houston, TX @ Smart Financial Centre at Sugar Land
• March 2 -- Biloxi, MS @ Beau Rivage Theatre
• March 5 -- Atlanta, GA @ Fox Theatre
• March 6 -- Louisville, KY @ The Louisville Palace
• March 8 -- Detroit, MI @ Fox Theatre
• March 9 -- Indianapolis, IN @ Murat Theatre at Old National Centre
• March 11 -- Chicago, IL @ The Chicago Theatre
• March 13 -- Minneapolis, MN @ State Theatre
• March 15 -- Milwaukee, WI @ Miller High Life Theatre
• March 16 -- Louis, MO @ Stifel Theatre
• March 18 -- Pittsburgh, PA @ Benedum Center
• March 20 -- Toronto, ON @ Sony Centre for the Performing Arts
• March 21 -- Orillia, ON @ Casino Rama Resort
• March 23 -- Buffalo, NY @ Shea's Performing Arts Center
• March 25 -- New York, NY @ Radio City Music Hall
• March 28 -- Boston, MA @ Boch Center Wang Theatre
• March 30 -- Atlantic City, NJ @ Hard Rock Live at Etess Arena
• March 31 -- Washington, DC @ The Theater at MGM National Harbor
• April 3 -- Philadelphia, PA @Metropolitan Opera House
• April 5 -- Wallingford, CT @ Toyota Presents Oakdale Theatre
• April 6 -- Bethlehem, PA @ Sands Bethlehem Event Center

​
EUROPEAN DATES:

• May 22 - Dublin @ 3Arena​
• May 25 - London @ Royal Albert Hall
• May 26 - London @ Royal Albert Hall
• May 27 - London @ Royal Albert Hall
• June 1 - Paris @ Palais De Congrès
• June 2 - Hamburg @ Barclaycard Arena
• June 4 - Aalborg @ Aalborg Hallen
• June 8 - Florence @ Artemio Franchi Stadium
• June 10 - Barcelona Festival @ Jardins Pedralbes
• June 11 - Bordeaux @ Arkea Arena
• June 13 - Amsterdam @ Ziggo Dome

​
CANADA

• July 11 - Quebec City Festival d'été

​
​
More info @ https://www.mariahcarey.com/tour

Live in DC and usually play at MGM for cash games and Live for the occasional tourney. Had a bachelor party in Baltimore a few weekends ago and spent some time Friday and Saturday night at Horseshoe. Casino itself is in one of the better areas of Baltimore (by the stadiums) and although we ubered in and out there was a big garage right next to the casino. Security everywhere which is probably a necessity in good ol' B'more.
There's 2 floors to the casino. Pretty average generally and we didn't eat anything so can't comment on the food. Shitty cover band playing the first night and I think a washed up 90s band the second night but not sure. Poker room is above average. Nice big space and 9 handed at most. Way more room than Live (haven't been to MGM since they moved the poker room, so dunno how it compares to new space). I don't know my experience compares with other non-Ravens game weekends (we were there for Ravens/Steelers game), but at least the weekend we were there games were really soft. There were probably 10-12 1/3 tables running, 2 2/5 tables, 1 5/10 shorthanded table. Usually play 2/5, but had been drinking all day and was there with some buddies, so we jumped into a 1/3 game and sat near each other so we could keep drinking and enjoying ourselves. Table was a nice mix of drunk tourists and really bad regs. Horseshoe lets you straddle from anywhere and at least the tables I was at both nights the straddle was on almost every hand (usually 6, but one drunk dude the second night kept straddling for 15 and then folding). Tons of action and decent level of talking and none of the headphones in not speaking crowd. Lots of jamming with non top pairs, misreading hands, etc. Anyway, would be curious from others who have been if the games are always this soft or it was a mix of the usual crowd + tourists in town for game. I don't think I'd drive up from DC given that MGM is pretty juicy as well, but I would definitely encourage people that usually go to Live to consider going up to Horseshoe instead.
Ok bad beat time. Had been playing for about an hour. On about 400 stack. Table is loose and we're probably an average stack. Pocket 9s in MP. Raise to 20 (6 straddle was on). Get 2 callers that both cover us including a stoned kid that straddled from UTG. He was a good guy and had been joking around with us. Obviously higher than a kite and was doing strange things all night, but was enjoying himself. Flop comes 933 rainbow. Start thinking how I'm going to squeeze some value out of this when my stoner buddy fires 75. I pretend to think for a little bit and then call. Other guy folds. Turn is a 7, but before the dealer even has slid the card into place, stoner kid says all in. I call about a second later and he says I've got you and flips over 83o. I show him the bad news and he says oh I didn't think of that. I turn and shrug to my friend who is laughing and then suddenly looks like he say a car wreck and says oh sorry dude that sucks. Turn back around and get a look at the river 3. Proceed to watch stoner kid punt off my should have been chips to everyone at table except for me and then leave. Still a fun night and would definitely make the trip back.