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26 Capital Corp (ADERU) is a new at-NAV SPAC with world-leading online gambling expertise - worth a bet
EDIT - one week after i posted this, Britain's most successful hedge fund manager Michael Platt has taken a 6.5% stake tl;dr At-NAV new SPAC with world-leading expertise in online gambling. Worth a bet on potential to be next DKNG on the hype train
+++++++ Hi all - have had a lot of great tips from this sub. Hopefully this pays some of you back. I have been watching and researching this since 23 December when it first filed S1, awaiting the units to be listed - they are available today trading as ADERU Positions - 500 units @ 10.42 to start. Will be monitoring and building position below $15, especially if attention starts to build ahead of units and warrants splitting and shares coming available to Robinhood. (My other SPAC positions are OPEN, IPO-E-F, PSTH, FUSE, PIPP, ACTC, CCIV and DMYD, 100 to 1000 shares each mostly around NAV and numerous warrants and options around these.) As ever, this is not investment advice and do your own research +++++++
26 Capital Acquisition Corp or ADER is a 240m SPAC with usual terms - 10$ units, 1/2 warrants. Seeking a merger in "gaming and gaming technology, branded consumer, lodging and entertainment, and Internet commerce sectors". I think this is highly worth a play on the online gambling hype if you can get in at near NAV, based entirely on the management which is unbeatable in its knowledge of the gambling industry
CEO Jason Ader has held director level positions at Las Vegas Sands Corp. ($42bn one of biggest casino groups in world), IGT (£3.72bn multinational gambling firm specialised in software and slot machines) and Playtech (£1.4bn multinational gambling software firm) Before starting his own fund in 2013 he was regularly ranked Wall Street's top analyst on the gambling and leisure sector His fund, Spring Owl Capital, is a small activist fund focused on gambling and leisure. They are probably most famous for ousting the CEO of Viacom in 2016 and a crusade against Yahoo CEO Marissa Meyer in 2015. Ader knows the gambling - and online gambling - industry inside out. He drove bWin to a £1.1bn takeover by gambling giant GVC (now Entain) in 2016, and has been driving similar change and demands for improvement at board level at Playtech The fund mostly manages money for a select group of wealthy families, which could be a positive sign for the SPAC (although I don't know how much skin in the SPAC the fund has, if any) Here is a video of Ader from November talking about how he's excited about SPACs. He talks about how he has been advising certain States about legalising sports betting and how to maximise value and liquidity by linking up with European companies in the space (Playtech e.g.??). Ader is extremely bullish on US legalising online casino and more sports betting options, accelerated by need for revenue because of pandemic
Rafi Ashkenazi One of the most highly respected names in the online gambling world, including COO and CEO positions at major online gambling firms such as Playtech and Stars Group (a world leader in online poker and casino). At Stars he led the $4.7bn takeover of Sky Betting to create the world's largest publicly listed online betting firm in 2018. Most recently he led the £10bn merger between Flutter (biggest gambling company in world by revenue, market cap £26bn), and Stars Group (Ader also involved). Also has connections into the booming Israel tech space which is interesting
Joseph Kaminkow Special Advisor to the Chief Product Officer at Aristocrat, a leading gambling software provider and games publisher, previously Vice President of Game Design at Zynga Inc. This guy is a former video game / pinball designer who is credited with revolutionising the slots industry after moving into gambling software from video games in 1999. Regarded as a "legend" and "hall of famer" in this niche. At Zynga he designed so-called 'social casino games' which don't involve real-money gambling but are otherwise basically gambling apps (revenue from microtransactions etc). 130 patents on gambling/gaming design inventions
Greg Lyss This is a very interesting but extremely low profile person. He was Bill Ackman a.k.a SPACman's right hand man at Gotham Capital. Ackman respected him so much that when Ackman set up a personal hedge fund to invest the Ackman family's money, he put Lyss in charge of it. To repeat - Bill Ackman thinks this guy is such a good investor and trustworthy that he put him in charge of investing his family's money. Don't know anything more about him, but I like this association with Ackman, which suggests to me some integrity around management of this SPAC, especially as the gambling world can be very murky. The other member of the team is the CFO of SpringOwl with 20+ years' hedge fund experience and not notable (although clearly competent)
Thesis / potential targets Based on the above experience and many public comments by Ader over the past year, I would be very surprised if ADER is not looking to merge with an online gambling technology provider / existing online betting website / social casino app / possibly a supporting technology provider They are activist inventors, and specifically say in the IPO prospectus that they could look for businesses that can benefit from turnaround or are not being run well. I speculate that their deep knowledge of the European / global online gambling industry means they have a target in mind that they think would benefit from their expertise and US liberalisation of gambling legislation.
1) Ader believes the listing of UK-listed gambling companies in US is immediately big in terms of market cap because of the premium on online gambling stocks in US. He has pitched DraftKings to takeover Playtech and called on Playtech to spin off non-core business. This makes me wonder if he would spin off some element of Playtech to list in US to cash in on gambling hype. This might be Finalto.com / TradeTech which is an online financial platform owned by Playtech. Playtech has been trying to sell this for 200 - 240m since August so it fits. This company provides liquidity and trading to brokerages and runs markets.com a trading site. I wouldn't be that excited although apparently the business has been booming during COVID and there could be a decent pop just on fintech hype.
2) This could be a 'picks and shovel' type data/B2B betting software play a la DMYD, or something like e.g. Israel based CRM software Optimove which works with some of biggest online gambling cos and has links to Ashkenazi. This would be interesting but probably not a huge pop
3) Possibly - given Ader's links to Sands - an online gambling tie-up with one of the big Vegas casinos who are desperate to get into the online betting space (see MGM's attempt to buy Entain for $8bn last week). Interestingly, Sands' owner Sheldon Adelson, previously a major opponent of online betting, has just died. Ader predicted a few months ago that Sands would be moving in this direction.
“There’s no stopping online gaming,” Ader said [before Adelson's death]. “(Las Vegas Sands’) initiatives to stop online gaming, at this stage, are largely historic. There hasn’t been a lot of spending recently to do that, especially post-pandemic.” “I think the company will see the value created by DraftKings and FanDuel and Penn (National) Gaming and others. They’re not foolish,” Ader added. source
4) Ader is very confident that Macau will legalise online gambling in next year or two. Sands is big in Macau, the biggest gambling market in the world. A SaaS-type product positioned to capitalise on Asian gambling would be MASSIVE - at present however, China's attitude to gambling and local regulations mean this is unlikely
5) I also wonder if they might try to take legitimate one of the offshore bookmakers with big customer databases and brand recognition but which have been grey-area/illegal under US gaming legislation. For example, Five Dimes recently announced a settlement with the FBI to attempt to transition into newly legalised US markets. This might have the most hype potential
Potential upside This is entirely a play on management experience and the meme factor / hype around online gambling in the US. I think if they pick a good target - which given their experience and connections seems likely - and get the right publicity and attention from retail investors looking for the next DKNG this could easily 3x and maybe 5-6x if on DKNG-type hype levels. There is currently little spotlight on this and it is a good time to get in at NAV
Potential Downside
Ader has been vocal that he thinks US online betting is overvalued and in a bubble - why is he starting his own SPAC in the space then? Does he just want to cash in while the hype is at all-time high or does he have a legitimate business goal?
If he just wants to dump a part of Playtech which he does not like onto retail investors, this is a bad deal.
Other targets could be e.g. hotel industry or other leisure sector which would be zero sexiness to retail. Given Ashkenazi and Kaminkow's background this seems unlikely though
Usual SPAC caveats apply about potential difficulty finding a target, locking up your money for unspecified period of time, and the fact I may have completely misread the potential and my above thesis might be totally wrong
Someone recently posted about MGM being overpriced, I'll add to that. Today Nevada Governor announced new restrictions. Max capacity of casinos, bars, and restaurants are going from 50% to 25% starting Tuesday. December is generally our slow season, and to add covid restrictions we had our occupancy projections pretty low. (17-25% on the weekdays, 40-60% on weekends). With the surge, we've had massive cancellations. New projections have us around 5-10% occupancy during the week, 30-40% on weekends. This forced MGM to close 2 more casinos during the week (mirage and mandalay bay, in addition to Park MGM that was already weekends only.) We're closing more restaurants and lowering operating hours for those that remain open. Vaccine news seems to have given MGM a massive bump, but here's the real deal. The vaccines, at best, won't be widely distributed till summertime. Most of MGM's profit is earned during the peak convention season of January-May. All those massive conventions have canceled, CES included. Summertime is very slow for Vegas, even pre-covid. Oct+Nov are usually decent, but then December is bad again. 2021 is dead on arrival for MGM resorts and all other Vegas casinos. The massive run up to 26/27 made no sense. Positions: 12/4 $25 Puts. I got in on Friday when MGM was trading at 27. Edit to say this is my first DD, hope I did it right.
Is Golden Matrix Group $GMGI About To Surprise Wall Street?
-Golden Matrix, a B2B gaming and sports betting software platform provider with a turn key solution to all customer needs for successfully operating and maintaining an online gaming/sports betting website. -Golden Matrix has recently filed an application for a Nasdaq Capital Markets Uplist with approval pending. -Golden Matrix and Playtech announced a collaboration agreement that has just kicked off this month including GMGI's all new Esports & Peer2P apps. -Golden Matrix reached an agreement with Amelco Gaming to distribute Amelco's leading international sports betting software white labeled in the APAC Region. -Knutsson Holdings Invests $5M with GMGI purchasing 1 Million shares at $5.00 each. What is Golden Matrix? Golden Matrix Group GMGI is a very unique part of the online gambling industry that doesn't get much recognition compared to the actual sports betting companies and casinos, such as Draftkings DKNG or BetMGM. Draftkings for an example is a front-end operator Business to Consumer (B2C), they are what the consumer sees on the app. Where on the other hand, GMGI is the back-end white labeled software platform, Business to Business (B2B). GMGI has everything provided to convert a land based brick and mortar casino to an online casino, including everything from data analytics, games, game management, payment gateways, currencies, languages, 24/7 tech support and more. So what I'm trying to say is Golden Matrix has everything required to setup an online casino or sports betting application. With what's going on in the world today, an online presence is a must. So this is how GMGI and GAN type companies differ from the rest of the online gaming world, as their work is mainly behind the curtains, but are needed in order to run an online casino or sport betting platform. Seeing Golden Matrix is not a front-end B2C retail casino, they do not have to pay hundreds of thousands or even millions to advertise. As a matter of fact they don't have to pay anything, which in turn keeps the operating expenses nice and low. They make their money by setting up operators at no cost and make their money licensing the front-end casinos, usage, and providing services. It's much more low key, and they don't have to be the bank like all the front end companies such as Draftkings, BetMGM, Bet365, etc... Continuous Revenue Growth Here's a brief summary on Golden Matrix's more recent growth. Just since last January (2020) they have grown their operators (Casinos) from 150 to 457 of them today, a 205% Increase, and Registered End Users from 1.5M to 3.9M today, a 160% Increase in the same time frame. Those numbers to me show solid company growth, and the quarterly financials reflected from this growth as Q1 Revenues were $882K, Q2 $1.04M, Q3 $1.49M, and Q4 is expected to exceed $1.7M as quoted by Golden Matrix. Those quarterlies show me that they have grown their revenues by nearly double in the year 2020. I'm expecting these revenues for last year will total approximately $5.1M+ and can do another easy double in 2021 if not more $10.2M+ On top of all this solid core growth GMGI has also been able to maintain profitability for the past nine consecutive quarters, while growing out their top end numbers. The gross profit last quarter (Q3) was 58% and the net income was only roughly $40K. In my opinion this is a good thing considering the competition GAN who trades in the Nasdaq, lost $4.1M during that same third quarter. Profit is profit, which is an complete rarity in this sector. I'm looking forward to seeing the Q4 numbers on or before the March 15th 2021 deadline. Nasdaq Capital Markets Golden Matrix filed an application to uplist onto the Nasdaq Capital Markets on August 27th 2020, and are still currently pending approval as it seems to be a very complicated and tedious task jumping all the way from OTC Pink Sheets to Nasdaq. Us GMGI long shareholders have seen many tasks from the company performed over the past 5+ months that come out in 8K filings, such as amending financial reports to Nasdaq formatting, and even creating a audit committee to meet qualifications just as of last week (01-26-21). As for now Golden Matrix is still a hidden gem as much of Wall Street doesn't know about GMGI or can't trade GMGI due to many buying restrictions. I think soon this will change and no longer be hidden with the arrival of up list. Playtech and Golden Matrix Deals Playtech and Golden Matrix went began a collaboration agreement around the end of November 2020 that is set to kickoff sometime this month (February). You can find this easily under recent GMGI news right on the company website. What the deal consists of is beneficial to both of them, as Golden Matrix newly designed and built a Esports betting app, Peer2P Betting Games, and a new Artificial Intelligence System (AI-X). Golden Matrix is letting Playtech PTEC.L use and distribute these applications and software exclusively to all of their new and future customers. Playtech is a market leader when it comes to gaming software and technology. Playtech granted non exclusive rights to distribute their most popular games including live dealer games, slots, table games, bingo, and poker to Golden Matrix's 450+ current operators throughout their APAC Region territories. This deal will be very beneficial for Golden Matrix as their foot print will reach the U.S. and European territories through Playtech, who is all over the world, and some states in the U.S. including very popular New Jersey. I expect we may see a significant increase in the top and bottom line growth for Golden Matrix through this significant collaboration deal. Amelco Sports Betting Distribution Deal One more recent larger deal was made with Amelco who's out of England U.K. and basically it gives Golden Matrix distribution rights of their premium sports betting software platform where they will offer it throughout their territories in the APAC Region to their 450+ Operators and future ones as well. I think this is a major deal because they will now become a stronger company by providing both Igaming and Sports Betting software vs just having igaming alone. I think this will not only attract more usage from the current 457+ operators and 3.9M end users, but will also have more future operators wanting to do new business with Golden Matrix being a dual distributor of both Igaming and Sports Betting. More customers equals more revenues, which is what we all want to see from any good growing company. GMGI Obtained a European Gaming License Golden Matrix recently acquired a Alderney Gaming License in which their CEO Brian Goodman sold to the company though another privately owned company that was holding this license. He sold this license at cost to Golden Matrix. From my understanding there's many benefits to owning this license, and it's not easy to obtain. Playtech their newly partner also holds this same gaming license, along with many other big name casinos. It seems as if GMGI will be expanding from just the APAC Region alone, and now into the European Region as well. Us shareholders didn't receive a lot info on the exact game plan, but it sounds like some expansion into the European Region. I'm looking forward to hearing more about their game plan hopefully in the near future. Europe is the largest gambling market in the whole world, and right under it is the Asia Pacific Region. Let's see what this European Alderney Gaming License has in store for us in the near future. $5 Million Equity Investment Just last week Golden Matrix announced they received a $5M equity investment from a strategic Swedish based gaming investor Knutsson Holdings AB. They purchased one million units which consists of 1M restricted shares at $5.00 USD each, and a warrant with a exercise price of $6.00 a share. They only can exercise the warrants once the GMGI share price exceeds $10 a share for a minimum of 10 consecutive trading days. This was all announced when we were trading around $5.50 a share and will only only dilute the outstanding share count from 21.7M shares to 22.7M shares (4.4%) which is minor. This deal brought me that much more confidence in GMGI, because not only did this investment firm valuate the company currently over $5 a share, but they know its worth more as they have been around the block dealing with gaming companies since 1963 (50+ years). They are also the largest shareholder of popular company NETENT who was recently acquired by Evolution Gaming, and are invested in many other gaming companies. Check them out. This deal puts GMGI outstanding shares to 22.7M with a super low share float that's under 12M shares and a low market cap around $116M USD while currently trading in the low $5 a share price range. Ask yourself this one question, if Knutsson Holdings doesn't even get to purchase their other 1M shares for $6M until the price exceeds $10 a share, don't you think they have good confidence GMGI will surpass this price in the near future? I very well believe so, as they have solid growth, and many new business deals into play for this Quarter (Q1) and beyond. Possible Acquisitions On The Horizon I personally have very high expectations for Golden Matrix this year including a up list approval onto the Nasdaq Capital Markets Exchange, major new revenue growth from the partnerships mentioned earlier, and of course building their core business stronger then ever. Also if you checkout all the last dozen press releases from the company, the CEO has mentioned several soon to be announced partnerships and possible synergistic acquisitions many times. Now with Golden Matrix sitting on a pile of cash on hand ($10M+) and staying profitable for the past nine consecutive quarters and counting, they could be in a great position to acquire something beneficial for the companies overall top and bottom line growth. I'm keeping my eyes peeled open short term to see what they do on their next move with $10M+ cash, no debt, and being cashflow positive, which is a rarity in this sector as most are bleeding millions of dollars in losses quarter after quarter! I believe with the current $116M Market Cap, 22.7M Outstanding shares, Low <12M share float and the anticipated future growth, this share price around $5.00 is undervalued and a true bargain BUY. My Position I hold a long position of GMGI here, and plan to continue holding for the next 3-5 years as the online gambling industry is expected to grow exponentially for quite some time with more and more legalization throughout the U.S. and many other locations. Online gambling will only continue to grow larger and larger yearly. Do some DD on GMGI and you may become a long shareholder like myself. Note: All of the info provided above including financials can be found on the Golden Matrix website in the investors section. WWW. GOLDENMATRIX .COM
1. Dow set to add to Wednesday’s record despite Capitol turmoil
U.S. stock futures rose Thursday, a day after the Dow Jones Industrial Average closed at a record high despite the turmoil at the Capitol. Early Thursday, outgoing President Donald Trump said in a statement there “will be an orderly transition” of power, shortly after Congress confirmed President-elect Joe Biden’s win.
Economists expect an increase in initial jobless claims, when the Labor Department reports its weekly numbers at 8:30 a.m. ET. With the seven-day average of new daily U.S. Covid infections spiking to a record high, first-time filings for unemployment benefits are seen rising by 28,000 to 815,000 for the week ended Jan. 2.
Ahead of Friday’s government employment report, the ADP’s look at December jobs trends at U.S. companies showed a contraction in private-sector positions for the first time since the early days of the coronavirus. Throughout most of the pandemic, the ADP estimates have been below the final government count.
The 10-year Treasury yield remained above 1% on Thursday morning after projected wins for Democrats in both Senate runoff elections in Georgia. Lightening up on bonds, pushing prices down and yields up, investors bought riskier assets like stocks and bitcoin.
The world’s largest cryptocurrency smashed through the $38,000 mark to hit a record high on Thursday as it continued its massive rally. Bitcoin has been up about 29% in the first days of 2021 and is up 380% over the past 12 months.
3. Congress confirms Biden as next president
Congress early Thursday confirmed the Electoral College vote for Biden, a day after Trump supporters breached the Capitol in a chaotic effort to avoid the formal recognition that the president lost the election. Shortly after the confirmation, White House spokesman Dan Scavino tweeted Trump’s statement, which promised “an orderly transition on January 20th,” the day of Biden’s inauguration, but also perpetuated the baseless claim that he actually won.
Congress’ process of counting Electoral College votes was interrupted Wednesday afternoon when rioters stormed the U.S. Capitol building. A woman who was among the invaders was shot and killed by Capitol Police. Three other people died from medical emergencies.
4. U.S. trade group asks Pence to ‘seriously consider’ invoking 25th Amendment
The National Association of Manufacturers, a trade organization representing 14,000 U.S. companies, called on Vice President Mike Pence to “seriously consider” invoking the 25th Amendment of the Constitution to remove Trump from office. Jay Timmons, CEO of the manufacturers group, is a former executive director of the National Republican Senatorial Committee. Two Democratic U.S. representatives worked on a letter to Pence requesting he invoke the amendment.
Members of Trump’s Cabinet issued harsh rebukes of the violence that unfolded at the Capitol. The officials, however, stopped short of criticizing the president, who had urged his supporters to take action at a pro-Trump rally Wednesday morning.
An administration official confirmed to CNBC’s Eamon Javers that National Security Advisor Robert O’Brien and Deputy National Security Advisor Matthew Pottinger are considering resigning over the insurrection. Stephanie Grisham, chief of staff for first lady Melania Trump, and Sarah Matthews, White House deputy press secretary, both resigned Wednesday.
Mick Mulvaney, Trump’s former chief of staff, announced on CNBC on Thursday he is resigning as special envoy to Northern Ireland.
5. Democrats win the majority in the Senate
During the Capitol siege, Democrat Jon Ossoff was projected as the winner of the second of two Senate runoff elections Tuesday in Georgia. The defeat of Republican David Perdue, whose Senate term expired Sunday, coupled with Democrat Raphael Warnock’s projected victory over Republican Sen. Kelly Loeffler, splits the 100 Senate right down the middle. However, Democrats take over the majority as Vice President-elect Kamala Harris would be the tie-breaking vote. After Biden’s inauguration, Democrats will control the Senate, House and the White House.
Bed Bath & Beyond (BBBY) – The housewares retailer reported quarterly profit of 8 cents per share, short of the 19 cents a share consensus estimate. Revenue also fell short of forecasts, hurt by a steep drop in store traffic and higher freight costs, among other factors. Shares dropped 12.5% in premarket trading as of 7:41 a.m. ET.
Walgreens (WBA) – The drugstore operator beat estimates by 19 cents a share, with quarterly earnings of $1.22 per share. Revenue also exceeded Wall Street projections. Walgreens said the business environment remains challenging, but it is maintaining its prior fiscal 2021 forecast. The shares added 3% in premarket trading as of 7:41 a.m. ET.
Conagra (CAG) – The food producer reported quarterly profit of 81 cents per share, 8 cents a share above estimates. Revenue was in line with Wall Street forecasts. It also forecast organic sales growth of 6% to 8% for the current quarter, as stay-at-home consumers continue to stoke demand for its frozen dinners and other products. The stock fell slightly in premarket trading as of 7:41 a.m. ET.
Constellation Brands (STZ) – The spirits producer earned $3.09 per share for its latest quarter, compared to a consensus estimate of $2.39 a share. Revenue also topped estimates and the company authorized a new $2 billion share repurchase program. The shares added 2.4% in premarket trading as of 7:41 a.m. ET.
CureVac (CVAC) – CureVac struck an alliance deal with drugmaker Bayer, aimed at helping the German biotech firm gain regulatory approval for its Covid-19 vaccine as well as distribute vaccine doses. The stock jumped 15% in premarket trading as of 7:41 a.m. ET.
DXC Technology (DXC) – The IT consulting firm is the target of a more than $10 billion takeover bid from French rival Atos, according to two sources with knowledge of the matter who spoke to Reuters. A formal approach is said to have been made, with discussions still at a preliminary stage. The stock added 8% in premarket trading as of 7:41 a.m. ET.
JPMorgan Chase (JPM) – Bank of America Securities upgraded the bank to “buy” from “neutral,” calling it “best-in-class” in what will likely be a strong 2021 for banks. The stock added 1.9% in premarket trading as of 7:41 a.m. ET.
Nvidia (NVDA) – The chipmaker’s stock was added to Citi’s “Catalyst Watch” list, with Citi expecting Nvidia shares to emerge from recent underperformance coming out of next week’s Consumer Electronics Show. The stock rose 2% in premarket trading as of 7:41 a.m. ET.
Alibaba (BABA) – The China e-commerce giant and Tencent Holdings could be added to a U.S. blacklist by the White House, according to multiple reports. Many consider such a ban unlikely, however, given that the Chinese firms are widely held by U.S. investors.
Twitter (TWTR), Facebook (FB) – Twitter and Facebook temporarily locked President Donald Trump’s accounts and removed some of his posts, hoping to quell further violence in Washington following yesterday’s assault on Capitol Hill.
MGM Resorts (MGM) – The casino operator was urged by shareholder Snow Lake Capital to sell 20% of its China business to a strategic partner. Snow Lake owns 7.5% of MGM China and said such a move would give MGM financial flexibility.
Costco (COST) – The warehouse retailer reported a 12% jump in December sales compared to a year earlier, helped by increased sales of frozen foods and liquor. Comparable store sales were up 10.7%.
Baidu (BIDU) – Baidu has chosen Goldman Sachs (GS) and CLSA for its planned Hong Kong listing, according to a Bloomberg report. The offering by the China-based search engine could raise at least $3.5 billion.
T-Mobile US (TMUS) – The mobile service provider added 824,000 postpaid phone subscribers during the fourth quarter, bring its 2020 total to 5.5 million.
The timeshare presentations in Nevada are gettimg out of hand...
“...and walk away with a trip to beautiful Las Vegas Nevada! Enjoy a complimentary 5 day 4 night stay at any MGM casino resort all on us! No nonsense, no gimmicks. Just a bit of your precious time! Call today!” Yes. A vacation extravaganza all on the arm. Courtesy of the Hibou Timeshare Corporation. All it cost was your time and cooperation for a timeshare presentation. Simple enough yes? I wish I would have realized how much better a couple of overtimes would have served me, than taking myself to that horrid building. I was living in Phoenix AZ with my parents. Still half way bullshitting my final semester at college. I’ve got to be honest, I was checked out. It was summer..I was going to graduate and I had these final two classes in the bag. I could have failed my finals and still walked out with a C. Yes but that kind of luxury came at a price. My social life was the casualty in all of this. While I did have a tight knit of pals, my attendance to social gatherings were...well..less than punctual. I was usually doing work for one of my advanced classes. If not that, then I was pulling a shift at either of my jobs. Yeah..you could say I gave up the glamour of late night pizzas, puking in my friends car and hooking up with a random ASU frat sluts for a heavier wallet...except I was paying everything out of my own pocket. My gas, insurance, cell, college. I wasn't exactly hiding cash in the walls. My parents worked hard but..never did make a living to give me and my siblings an extravagant lifestyle. We were grateful though. So when I heard that AD of how I could get a long needed vacation to party central Las Vegas, all for watching some BS timeshare I knew I wasn’t going to buy into, you bet your ass off I made that call. The phone only rang once before I got an answer, “Thank you for calling the Hibou Timeshare Corporation, how can we help you?” a voice rang through the phone. The voice sounded shrill and sickly. “Hi, I'm calling about the vacation in Vegas? Says that you need people for a presen..” “Yeessss.” the voice interrupted “The timeshare presentation, well...we would be so honored to have you” “Uhh..yeah...anyway I’d like to sign up? Is there a form online or do you take the information here?” I said..now feeling a bit tense. “Well I'll tell you what...pack your things for the vacation. When we are finished presenting..we can send you on our way to Vegas. We just need..a bit of your time.” That was that. He gave me the address, date and time of the meeting. The area was in a place called Amargosa Valley in Nevada. Luckily it was just about an hour away from Vegas. Before we parted ways on the phone, the operator said something...he said something that should have been a MAJOR red flag. “Okay then, you’re all set...we will see you July 28th at 4:30pm. Not a moment later” he laughed “Oh..and..one more thing, if you have some more specimens like yourself that might be interested in the free vacation...bring them along. They’ll all receive the same prize and you will receive $100 cash for every person you bring. We look forward to presenting you, Austin. Good day.” I never gave him my name. Still, my young dumb brain didn’t hear anything past $100 dollars. So I rounded up a few of my best pals and we were set to meet the reps over at the timeshare. The days leading up to the trip I couldn't get a hold of myself. It was so exciting. My first real vacation in...i couldn't remember how long. I longed for this type of adventure with my friends. We packed a truck full and set off to Amargosa Valley. I brought Luke, Larry and Adam. We’d been friends since the 3rd grade. We all moved to AZ from different parts of the country that summer, so being new kids we naturally ganged up together. Luke was from Texas..we called him Tex. Real big guy. Loved to work out but definitely was a bit of a boozebag. Larry was from Ohio. Quiet in public but probably the loudest of us all. Always had some political conspiracy to talk about. Then Adam..Adam was interesting. He was from Florida...or Georgia...or Nebraska. Adam never could keep it straight about where he was from. He always had some sort of story and backtrack about where he’d come from. I personally thought he was probably from another part of AZ and just wanted to fit in...so we humor him and let him be the nomad of our group. I myself was originally from California...things got pricey so we made the move to blistering AZ. That was my crew. No matter how long it had been, we were always as tight as ever. The ride was filled with laughing and gags. Stops at fast food joints and all around bullshitting. Yes it was an amazing time just driving there, we couldn't wait to get on with the meeting and head down to Boozeville USA. As we approached our destination...something felt off. Amargosa Valley had been a bit of a ghost town the whole drive. A gas station here. A small outlet there...but otherwise unpopulated. When we hit our destination we were met by a Chrome building. Smack center in the middle of the highway. As we parked at the only stall..we all took a look at each other. “Well this is...odd.” Luke said plainly. “Yeah man...are we really going there?” Adam shook out. Barely containing his fear. “Look guys, I know it looks weird. This place is really clean and bright in the middle of a dusty desert but c’mon. It's like what...an hour of our time? Within 2 hours we’ll be on our way to the dopest guys trip ever.” I said...selfishly. The guys all agreed. We got out, locked the car up and walked in through the sliding glass doors. The cool air hit us like a wave. Each of us breathing in the refreshingly cold air. The inside of this lobby..was also immaculate. Chrome everywhere. Right down to the sofas and chairs. A woman came from around the front desk. “You must be here to be presented. I see you brought more specimens! What a joy! Will you gentlemen please follow me?” She said. Specimens. Ugh. Her tone. That word still makes me shutter. Me and the boys looked at each other..all with the same should we do it look on our faces. Maybe it was the cold air enticing our sweaty brows. We’d been a poorly AC’D truck for a couple hours. Or maybe it was the ice cold drinks she presented in front of us. Whatever the case we followed her through a door behind the front desk and were met with a grand auditorium. It looked as if it could hold maybe 50 people. And all they had was me and my knucklehead friends. As we sat down, sucking down sodas and waters, a mans voice came over the intercom. “Welcome my friends to the Hibou Timeshare Corporation presentation. Today you will be examining the lifetime of these vessels. Determine whether or not you think they are a smart investment and make a choice if you would like to partake!” I recognized the voice. It was the same shrill tone that I set up the appointment with. “Now my dear friends, it's time to sit back with your favorite drink...and listen..” With that, a large projector screen came down from the celine. An old timey countdown began winding down. BEEP3...BEEP2...BEEP1 From what I can remember, I heard the screams of something...unnatural. A scream so high tone that I felt as if my ears would burst with blood. I tried clasping my hands over my ears but to no avail. The screams were too overpowering. As soon as it started, I passed out. I awoke looking at the lights on the celine. Unable to sit up. I could tell I was bareass naked on a metal table. I moved my head, the little that i could to see Adam next to me on another table. Naked as the day we were born. He was encased in what looked like a light purple energy field. Looking more in depth, I too had this field in front of me. Before I could speak the tables raised up. Bringing me upright. Bringing me face to face with Tex. To the left of me..Larry. “My friends, I present to you: Terramite 99-0 specimens.” a voice rang out. The same voice from the auditorium. “They are..of the male species. Strong. Cunning and above all loyal...if raised properly.” “HEY, you bastards. WTF is this! LET US GO!” Tex cried out. Before he could continue, the energy field tightened around him. Tex let out a scream that will haunt me for the rest of my life. The smell of burned flesh and hair filled the area. I would have puked had the horror of seeing my best friend being burned alive wasn't keeping my attention away from the smell. When the field lifted, Tex was stripped down to the muscle fibers. Hair burned down to the scalp. Tex convulsed until he finally relaxed into a hanging position on the table. “Now see..specimen is now sedated. Reduced to a weaker position. With the energy field keeping him contained and the Auto-Reversal Time Warp engaging, we can have this specimen back into working shape immediately.” There was an electrical hum in the air. As before my eyes, Tex’s skin began to heal. His hair growing back. And all burns subsiding. It was as if nothing had happened to him. He still hung in limbo, but we could see the breath return to his chest.The rest of us let out bits of gasps of horror and astonishment. I could see Adam crying a bit in the corner of my eyes. A figure appeared from behind me. A tentacle graced my shoulder, not even phased by the force field. I caught sight of the creature. It stood around 7foot tall. Skin that looked human but a head that was elongated. No nose. And eyes that were black as coal. It had two tentacles for hands. I could not see its feet, as it was covered by a long gown. Larry screamed in anger. “Your...your...a...a…” he managed to get out before the creature silenced him. “Shhhh….I am...a salesman is all. Now my friends I will demonstrate the life cycle of the Terramite 99-0’s.” With that, Larry's forcefield began to hum. Right before my eyes Larry began to get...smaller. Not in stature necessarily, no, but in age. He went from being a young man..to a teenager..to that kid i met in 3rd grade..to an infant. His cries were extremely loud. Unaware of the horrors around him. At that moment I could hear Adam's field begin to hum. “Please no! Please!” Adam begged. “If you will direct your attention to our third pod:” Adam then began to scream as he went from a young man..to middle aged man...to retirement age and finally...to a decrepit old man. Hair as white as snow. Wrinkled beyond recognition. Each breath looking to nearly be his last. “From birth to the declining ages of 70 and beyond the Auto-Reversal Time Warp pods are the perfect tool to use when training your armys, your children, your slaves. Imagine...never having to replace workers. Never worrying if your training methods or punishments might go too far. Never losing a prisoner to death. And though the Terramites look to be difficult to control, I can guarantee their cooperation once put through the proper training.” The creature said. Full of glee in his dead eyes. Between the crying of baby larry and incoherent babbling of old man adam, the room felt like it was spinning. Just when I thought things couldn't get any stranger, the rest of the lights came to life. The room we were in were surrounded by seats, similar to the ones we sat in. However, sitting in these seats were ghastly creatures of different varieties. Some looked like the salesman creature. Others were ogreish. Large bodied creatures covered in a film of slime. Some of them even looked human. It was the eyes though...their eyes were a teal color with white pupils. Many many creatures looked up me and my friends. All of them began clapping their hands and cheering in unison. The claps were deafening. The cries of the baby felt as if a baseball bat was ramming my head. Adams babbling was terrifyingly disturbing. And Tex...hanging there. Eyes rolled back into his skull. I couldnt imagine the hell he began to feel. At this point I wondered what awaited my fate. The clapping stopped abruptly. “Oh...Austin...yes, well if you want to know what fate awaits you just shut your eyes. Shut your eyes and quietly count back from 3.” the creature said...was he reading my mind? Suddenly the urge to close my eyes overtook me. Almost as if I had no choice, I began counting down. 3….2….1…. Everything went black. I wasn't sure if i was alive or dead...or somewhere in between. I saw nothing but black for what felt like a lifetime. And in an instant...I heard that same shrill scream. Only this time I could not cover my ears. I couldn’t feel my body but I felt an unimaginable amount of pain. As the scream grew to its peak, I slammed my eyes open. Trying to catch my breath. I was back in the car...we were all back in the car. The engine was on. Shitty ac blasting. The others were still out. I sat up in my seat. Not wanting to move too suddenly. The sun was beating down on us. I looked over at the time on the dash…July 28th 4:34 pm. I reached into my shirt pocket and I found several vouchers for the MGM hotels in Vegas along with $300 dollars. I also found a card that simply read “Hibou Timeshare Corp. would like to thank you for a bit of your time” The boys came too. All feeling rather groggy. “We all fell asleep huh?” Adam laughed. “We here?” They didn't remember a thing. Not one thing. Not going in...not the reception area...not the freaky timeshare presentation...not one bit. I lied...i told them that while they were sound asleep, we arrived a little earlier than expected. The presenter had an emergency and left our vouchers at the front desk and apologized profusely. “Wow, what a gentleman!” Tex laughed. “We definitely owe it to him to sit through another timeshare, probono.” Larry added. I think it's safe to say that I will not be returning to this or any other timeshare. As I drove away I could see the building disappear in the rear view mirror. So if you’re traveling deep within the southwest of the United States and hear an ad for a free vacation that's too good to be true...do yourself a favor..turn off the radio, call into work and ask for some overtime..because nothing is ever given for free.
TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!
Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment,Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap! If you don't like to read... you don't like to make money!!!! ---------------------------------------------------------------------------------------- Matthew Davey — Chief Executive Officer and Director Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led. Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included: • OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform. • Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings. • OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets. These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018. Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University). Robin Chhabra — President Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following: • TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia. • TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs. • William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom. Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet. Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science. Eric Matejevich — Chief Financial Officer Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million. Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million. Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation. Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania. Our Board of Directors Morris Bailey — Chairman Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States. In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless. Tony Rodio — Director Nominee Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University. Marlon Goldstein — Director Nominee Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include: • TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date. • TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group. • TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion. • TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction. • TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion. Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet. Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities. Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law. Sean Ryan — Director Nominee Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division. Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division. We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles. Tom Roche — Director Nominee Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including: • Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002. • Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion. • Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets. • MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering. Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector. Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association. We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
1. Dow set to add to Wednesday’s record despite Capitol turmoil
U.S. stock futures rose Thursday, a day after the Dow Jones Industrial Average closed at a record high despite the turmoil at the Capitol. Early Thursday, outgoing President Donald Trump said in a statement there “will be an orderly transition” of power, shortly after Congress confirmed President-elect Joe Biden’s win.
Economists expect an increase in initial jobless claims, when the Labor Department reports its weekly numbers at 8:30 a.m. ET. With the seven-day average of new daily U.S. Covid infections spiking to a record high, first-time filings for unemployment benefits are seen rising by 28,000 to 815,000 for the week ended Jan. 2.
Ahead of Friday’s government employment report, the ADP’s look at December jobs trends at U.S. companies showed a contraction in private-sector positions for the first time since the early days of the coronavirus. Throughout most of the pandemic, the ADP estimates have been below the final government count.
The 10-year Treasury yield remained above 1% on Thursday morning after projected wins for Democrats in both Senate runoff elections in Georgia. Lightening up on bonds, pushing prices down and yields up, investors bought riskier assets like stocks and bitcoin.
The world’s largest cryptocurrency smashed through the $38,000 mark to hit a record high on Thursday as it continued its massive rally. Bitcoin has been up about 29% in the first days of 2021 and is up 380% over the past 12 months.
3. Congress confirms Biden as next president
Congress early Thursday confirmed the Electoral College vote for Biden, a day after Trump supporters breached the Capitol in a chaotic effort to avoid the formal recognition that the president lost the election. Shortly after the confirmation, White House spokesman Dan Scavino tweeted Trump’s statement, which promised “an orderly transition on January 20th,” the day of Biden’s inauguration, but also perpetuated the baseless claim that he actually won.
Congress’ process of counting Electoral College votes was interrupted Wednesday afternoon when rioters stormed the U.S. Capitol building. A woman who was among the invaders was shot and killed by Capitol Police. Three other people died from medical emergencies.
4. U.S. trade group asks Pence to ‘seriously consider’ invoking 25th Amendment
The National Association of Manufacturers, a trade organization representing 14,000 U.S. companies, called on Vice President Mike Pence to “seriously consider” invoking the 25th Amendment of the Constitution to remove Trump from office. Jay Timmons, CEO of the manufacturers group, is a former executive director of the National Republican Senatorial Committee. Two Democratic U.S. representatives worked on a letter to Pence requesting he invoke the amendment.
Members of Trump’s Cabinet issued harsh rebukes of the violence that unfolded at the Capitol. The officials, however, stopped short of criticizing the president, who had urged his supporters to take action at a pro-Trump rally Wednesday morning.
An administration official confirmed to CNBC’s Eamon Javers that National Security Advisor Robert O’Brien and Deputy National Security Advisor Matthew Pottinger are considering resigning over the insurrection. Stephanie Grisham, chief of staff for first lady Melania Trump, and Sarah Matthews, White House deputy press secretary, both resigned Wednesday.
Mick Mulvaney, Trump’s former chief of staff, announced on CNBC on Thursday he is resigning as special envoy to Northern Ireland.
5. Democrats win the majority in the Senate
During the Capitol siege, Democrat Jon Ossoff was projected as the winner of the second of two Senate runoff elections Tuesday in Georgia. The defeat of Republican David Perdue, whose Senate term expired Sunday, coupled with Democrat Raphael Warnock’s projected victory over Republican Sen. Kelly Loeffler, splits the 100 Senate right down the middle. However, Democrats take over the majority as Vice President-elect Kamala Harris would be the tie-breaking vote. After Biden’s inauguration, Democrats will control the Senate, House and the White House.
Bed Bath & Beyond (BBBY) – The housewares retailer reported quarterly profit of 8 cents per share, short of the 19 cents a share consensus estimate. Revenue also fell short of forecasts, hurt by a steep drop in store traffic and higher freight costs, among other factors. Shares dropped 12.5% in premarket trading as of 7:41 a.m. ET.
Walgreens (WBA) – The drugstore operator beat estimates by 19 cents a share, with quarterly earnings of $1.22 per share. Revenue also exceeded Wall Street projections. Walgreens said the business environment remains challenging, but it is maintaining its prior fiscal 2021 forecast. The shares added 3% in premarket trading as of 7:41 a.m. ET.
Conagra (CAG) – The food producer reported quarterly profit of 81 cents per share, 8 cents a share above estimates. Revenue was in line with Wall Street forecasts. It also forecast organic sales growth of 6% to 8% for the current quarter, as stay-at-home consumers continue to stoke demand for its frozen dinners and other products. The stock fell slightly in premarket trading as of 7:41 a.m. ET.
Constellation Brands (STZ) – The spirits producer earned $3.09 per share for its latest quarter, compared to a consensus estimate of $2.39 a share. Revenue also topped estimates and the company authorized a new $2 billion share repurchase program. The shares added 2.4% in premarket trading as of 7:41 a.m. ET.
CureVac (CVAC) – CureVac struck an alliance deal with drugmaker Bayer, aimed at helping the German biotech firm gain regulatory approval for its Covid-19 vaccine as well as distribute vaccine doses. The stock jumped 15% in premarket trading as of 7:41 a.m. ET.
DXC Technology (DXC) – The IT consulting firm is the target of a more than $10 billion takeover bid from French rival Atos, according to two sources with knowledge of the matter who spoke to Reuters. A formal approach is said to have been made, with discussions still at a preliminary stage. The stock added 8% in premarket trading as of 7:41 a.m. ET.
JPMorgan Chase (JPM) – Bank of America Securities upgraded the bank to “buy” from “neutral,” calling it “best-in-class” in what will likely be a strong 2021 for banks. The stock added 1.9% in premarket trading as of 7:41 a.m. ET.
Nvidia (NVDA) – The chipmaker’s stock was added to Citi’s “Catalyst Watch” list, with Citi expecting Nvidia shares to emerge from recent underperformance coming out of next week’s Consumer Electronics Show. The stock rose 2% in premarket trading as of 7:41 a.m. ET.
Alibaba (BABA) – The China e-commerce giant and Tencent Holdings could be added to a U.S. blacklist by the White House, according to multiple reports. Many consider such a ban unlikely, however, given that the Chinese firms are widely held by U.S. investors.
Twitter (TWTR), Facebook (FB) – Twitter and Facebook temporarily locked President Donald Trump’s accounts and removed some of his posts, hoping to quell further violence in Washington following yesterday’s assault on Capitol Hill.
MGM Resorts (MGM) – The casino operator was urged by shareholder Snow Lake Capital to sell 20% of its China business to a strategic partner. Snow Lake owns 7.5% of MGM China and said such a move would give MGM financial flexibility.
Costco (COST) – The warehouse retailer reported a 12% jump in December sales compared to a year earlier, helped by increased sales of frozen foods and liquor. Comparable store sales were up 10.7%.
Baidu (BIDU) – Baidu has chosen Goldman Sachs (GS) and CLSA for its planned Hong Kong listing, according to a Bloomberg report. The offering by the China-based search engine could raise at least $3.5 billion.
T-Mobile US (TMUS) – The mobile service provider added 824,000 postpaid phone subscribers during the fourth quarter, bring its 2020 total to 5.5 million.
1. Dow set to add to Wednesday’s record despite Capitol turmoil
U.S. stock futures rose Thursday, a day after the Dow Jones Industrial Average closed at a record high despite the turmoil at the Capitol. Early Thursday, outgoing President Donald Trump said in a statement there “will be an orderly transition” of power, shortly after Congress confirmed President-elect Joe Biden’s win.
Economists expect an increase in initial jobless claims, when the Labor Department reports its weekly numbers at 8:30 a.m. ET. With the seven-day average of new daily U.S. Covid infections spiking to a record high, first-time filings for unemployment benefits are seen rising by 28,000 to 815,000 for the week ended Jan. 2.
Ahead of Friday’s government employment report, the ADP’s look at December jobs trends at U.S. companies showed a contraction in private-sector positions for the first time since the early days of the coronavirus. Throughout most of the pandemic, the ADP estimates have been below the final government count.
The 10-year Treasury yield remained above 1% on Thursday morning after projected wins for Democrats in both Senate runoff elections in Georgia. Lightening up on bonds, pushing prices down and yields up, investors bought riskier assets like stocks and bitcoin.
The world’s largest cryptocurrency smashed through the $38,000 mark to hit a record high on Thursday as it continued its massive rally. Bitcoin has been up about 29% in the first days of 2021 and is up 380% over the past 12 months.
3. Congress confirms Biden as next president
Congress early Thursday confirmed the Electoral College vote for Biden, a day after Trump supporters breached the Capitol in a chaotic effort to avoid the formal recognition that the president lost the election. Shortly after the confirmation, White House spokesman Dan Scavino tweeted Trump’s statement, which promised “an orderly transition on January 20th,” the day of Biden’s inauguration, but also perpetuated the baseless claim that he actually won.
Congress’ process of counting Electoral College votes was interrupted Wednesday afternoon when rioters stormed the U.S. Capitol building. A woman who was among the invaders was shot and killed by Capitol Police. Three other people died from medical emergencies.
4. U.S. trade group asks Pence to ‘seriously consider’ invoking 25th Amendment
The National Association of Manufacturers, a trade organization representing 14,000 U.S. companies, called on Vice President Mike Pence to “seriously consider” invoking the 25th Amendment of the Constitution to remove Trump from office. Jay Timmons, CEO of the manufacturers group, is a former executive director of the National Republican Senatorial Committee. Two Democratic U.S. representatives worked on a letter to Pence requesting he invoke the amendment.
Members of Trump’s Cabinet issued harsh rebukes of the violence that unfolded at the Capitol. The officials, however, stopped short of criticizing the president, who had urged his supporters to take action at a pro-Trump rally Wednesday morning.
An administration official confirmed to CNBC’s Eamon Javers that National Security Advisor Robert O’Brien and Deputy National Security Advisor Matthew Pottinger are considering resigning over the insurrection. Stephanie Grisham, chief of staff for first lady Melania Trump, and Sarah Matthews, White House deputy press secretary, both resigned Wednesday.
Mick Mulvaney, Trump’s former chief of staff, announced on CNBC on Thursday he is resigning as special envoy to Northern Ireland.
5. Democrats win the majority in the Senate
During the Capitol siege, Democrat Jon Ossoff was projected as the winner of the second of two Senate runoff elections Tuesday in Georgia. The defeat of Republican David Perdue, whose Senate term expired Sunday, coupled with Democrat Raphael Warnock’s projected victory over Republican Sen. Kelly Loeffler, splits the 100 Senate right down the middle. However, Democrats take over the majority as Vice President-elect Kamala Harris would be the tie-breaking vote. After Biden’s inauguration, Democrats will control the Senate, House and the White House.
Bed Bath & Beyond (BBBY) – The housewares retailer reported quarterly profit of 8 cents per share, short of the 19 cents a share consensus estimate. Revenue also fell short of forecasts, hurt by a steep drop in store traffic and higher freight costs, among other factors. Shares dropped 12.5% in premarket trading as of 7:41 a.m. ET.
Walgreens (WBA) – The drugstore operator beat estimates by 19 cents a share, with quarterly earnings of $1.22 per share. Revenue also exceeded Wall Street projections. Walgreens said the business environment remains challenging, but it is maintaining its prior fiscal 2021 forecast. The shares added 3% in premarket trading as of 7:41 a.m. ET.
Conagra (CAG) – The food producer reported quarterly profit of 81 cents per share, 8 cents a share above estimates. Revenue was in line with Wall Street forecasts. It also forecast organic sales growth of 6% to 8% for the current quarter, as stay-at-home consumers continue to stoke demand for its frozen dinners and other products. The stock fell slightly in premarket trading as of 7:41 a.m. ET.
Constellation Brands (STZ) – The spirits producer earned $3.09 per share for its latest quarter, compared to a consensus estimate of $2.39 a share. Revenue also topped estimates and the company authorized a new $2 billion share repurchase program. The shares added 2.4% in premarket trading as of 7:41 a.m. ET.
CureVac (CVAC) – CureVac struck an alliance deal with drugmaker Bayer, aimed at helping the German biotech firm gain regulatory approval for its Covid-19 vaccine as well as distribute vaccine doses. The stock jumped 15% in premarket trading as of 7:41 a.m. ET.
DXC Technology (DXC) – The IT consulting firm is the target of a more than $10 billion takeover bid from French rival Atos, according to two sources with knowledge of the matter who spoke to Reuters. A formal approach is said to have been made, with discussions still at a preliminary stage. The stock added 8% in premarket trading as of 7:41 a.m. ET.
JPMorgan Chase (JPM) – Bank of America Securities upgraded the bank to “buy” from “neutral,” calling it “best-in-class” in what will likely be a strong 2021 for banks. The stock added 1.9% in premarket trading as of 7:41 a.m. ET.
Nvidia (NVDA) – The chipmaker’s stock was added to Citi’s “Catalyst Watch” list, with Citi expecting Nvidia shares to emerge from recent underperformance coming out of next week’s Consumer Electronics Show. The stock rose 2% in premarket trading as of 7:41 a.m. ET.
Alibaba (BABA) – The China e-commerce giant and Tencent Holdings could be added to a U.S. blacklist by the White House, according to multiple reports. Many consider such a ban unlikely, however, given that the Chinese firms are widely held by U.S. investors.
Twitter (TWTR), Facebook (FB) – Twitter and Facebook temporarily locked President Donald Trump’s accounts and removed some of his posts, hoping to quell further violence in Washington following yesterday’s assault on Capitol Hill.
MGM Resorts (MGM) – The casino operator was urged by shareholder Snow Lake Capital to sell 20% of its China business to a strategic partner. Snow Lake owns 7.5% of MGM China and said such a move would give MGM financial flexibility.
Costco (COST) – The warehouse retailer reported a 12% jump in December sales compared to a year earlier, helped by increased sales of frozen foods and liquor. Comparable store sales were up 10.7%.
Baidu (BIDU) – Baidu has chosen Goldman Sachs (GS) and CLSA for its planned Hong Kong listing, according to a Bloomberg report. The offering by the China-based search engine could raise at least $3.5 billion.
T-Mobile US (TMUS) – The mobile service provider added 824,000 postpaid phone subscribers during the fourth quarter, bring its 2020 total to 5.5 million.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Thursday, January 7th, 2021! :)
1. Dow set to add to Wednesday’s record despite Capitol turmoil
U.S. stock futures rose Thursday, a day after the Dow Jones Industrial Average closed at a record high despite the turmoil at the Capitol. Early Thursday, outgoing President Donald Trump said in a statement there “will be an orderly transition” of power, shortly after Congress confirmed President-elect Joe Biden’s win.
Economists expect an increase in initial jobless claims, when the Labor Department reports its weekly numbers at 8:30 a.m. ET. With the seven-day average of new daily U.S. Covid infections spiking to a record high, first-time filings for unemployment benefits are seen rising by 28,000 to 815,000 for the week ended Jan. 2.
Ahead of Friday’s government employment report, the ADP’s look at December jobs trends at U.S. companies showed a contraction in private-sector positions for the first time since the early days of the coronavirus. Throughout most of the pandemic, the ADP estimates have been below the final government count.
The 10-year Treasury yield remained above 1% on Thursday morning after projected wins for Democrats in both Senate runoff elections in Georgia. Lightening up on bonds, pushing prices down and yields up, investors bought riskier assets like stocks and bitcoin.
The world’s largest cryptocurrency smashed through the $38,000 mark to hit a record high on Thursday as it continued its massive rally. Bitcoin has been up about 29% in the first days of 2021 and is up 380% over the past 12 months.
3. Congress confirms Biden as next president
Congress early Thursday confirmed the Electoral College vote for Biden, a day after Trump supporters breached the Capitol in a chaotic effort to avoid the formal recognition that the president lost the election. Shortly after the confirmation, White House spokesman Dan Scavino tweeted Trump’s statement, which promised “an orderly transition on January 20th,” the day of Biden’s inauguration, but also perpetuated the baseless claim that he actually won.
Congress’ process of counting Electoral College votes was interrupted Wednesday afternoon when rioters stormed the U.S. Capitol building. A woman who was among the invaders was shot and killed by Capitol Police. Three other people died from medical emergencies.
4. U.S. trade group asks Pence to ‘seriously consider’ invoking 25th Amendment
The National Association of Manufacturers, a trade organization representing 14,000 U.S. companies, called on Vice President Mike Pence to “seriously consider” invoking the 25th Amendment of the Constitution to remove Trump from office. Jay Timmons, CEO of the manufacturers group, is a former executive director of the National Republican Senatorial Committee. Two Democratic U.S. representatives worked on a letter to Pence requesting he invoke the amendment.
Members of Trump’s Cabinet issued harsh rebukes of the violence that unfolded at the Capitol. The officials, however, stopped short of criticizing the president, who had urged his supporters to take action at a pro-Trump rally Wednesday morning.
An administration official confirmed to CNBC’s Eamon Javers that National Security Advisor Robert O’Brien and Deputy National Security Advisor Matthew Pottinger are considering resigning over the insurrection. Stephanie Grisham, chief of staff for first lady Melania Trump, and Sarah Matthews, White House deputy press secretary, both resigned Wednesday.
Mick Mulvaney, Trump’s former chief of staff, announced on CNBC on Thursday he is resigning as special envoy to Northern Ireland.
5. Democrats win the majority in the Senate
During the Capitol siege, Democrat Jon Ossoff was projected as the winner of the second of two Senate runoff elections Tuesday in Georgia. The defeat of Republican David Perdue, whose Senate term expired Sunday, coupled with Democrat Raphael Warnock’s projected victory over Republican Sen. Kelly Loeffler, splits the 100 Senate right down the middle. However, Democrats take over the majority as Vice President-elect Kamala Harris would be the tie-breaking vote. After Biden’s inauguration, Democrats will control the Senate, House and the White House.
Bed Bath & Beyond (BBBY) – The housewares retailer reported quarterly profit of 8 cents per share, short of the 19 cents a share consensus estimate. Revenue also fell short of forecasts, hurt by a steep drop in store traffic and higher freight costs, among other factors. Shares dropped 12.5% in premarket trading as of 7:41 a.m. ET.
Walgreens (WBA) – The drugstore operator beat estimates by 19 cents a share, with quarterly earnings of $1.22 per share. Revenue also exceeded Wall Street projections. Walgreens said the business environment remains challenging, but it is maintaining its prior fiscal 2021 forecast. The shares added 3% in premarket trading as of 7:41 a.m. ET.
Conagra (CAG) – The food producer reported quarterly profit of 81 cents per share, 8 cents a share above estimates. Revenue was in line with Wall Street forecasts. It also forecast organic sales growth of 6% to 8% for the current quarter, as stay-at-home consumers continue to stoke demand for its frozen dinners and other products. The stock fell slightly in premarket trading as of 7:41 a.m. ET.
Constellation Brands (STZ) – The spirits producer earned $3.09 per share for its latest quarter, compared to a consensus estimate of $2.39 a share. Revenue also topped estimates and the company authorized a new $2 billion share repurchase program. The shares added 2.4% in premarket trading as of 7:41 a.m. ET.
CureVac (CVAC) – CureVac struck an alliance deal with drugmaker Bayer, aimed at helping the German biotech firm gain regulatory approval for its Covid-19 vaccine as well as distribute vaccine doses. The stock jumped 15% in premarket trading as of 7:41 a.m. ET.
DXC Technology (DXC) – The IT consulting firm is the target of a more than $10 billion takeover bid from French rival Atos, according to two sources with knowledge of the matter who spoke to Reuters. A formal approach is said to have been made, with discussions still at a preliminary stage. The stock added 8% in premarket trading as of 7:41 a.m. ET.
JPMorgan Chase (JPM) – Bank of America Securities upgraded the bank to “buy” from “neutral,” calling it “best-in-class” in what will likely be a strong 2021 for banks. The stock added 1.9% in premarket trading as of 7:41 a.m. ET.
Nvidia (NVDA) – The chipmaker’s stock was added to Citi’s “Catalyst Watch” list, with Citi expecting Nvidia shares to emerge from recent underperformance coming out of next week’s Consumer Electronics Show. The stock rose 2% in premarket trading as of 7:41 a.m. ET.
Alibaba (BABA) – The China e-commerce giant and Tencent Holdings could be added to a U.S. blacklist by the White House, according to multiple reports. Many consider such a ban unlikely, however, given that the Chinese firms are widely held by U.S. investors.
Twitter (TWTR), Facebook (FB) – Twitter and Facebook temporarily locked President Donald Trump’s accounts and removed some of his posts, hoping to quell further violence in Washington following yesterday’s assault on Capitol Hill.
MGM Resorts (MGM) – The casino operator was urged by shareholder Snow Lake Capital to sell 20% of its China business to a strategic partner. Snow Lake owns 7.5% of MGM China and said such a move would give MGM financial flexibility.
Costco (COST) – The warehouse retailer reported a 12% jump in December sales compared to a year earlier, helped by increased sales of frozen foods and liquor. Comparable store sales were up 10.7%.
Baidu (BIDU) – Baidu has chosen Goldman Sachs (GS) and CLSA for its planned Hong Kong listing, according to a Bloomberg report. The offering by the China-based search engine could raise at least $3.5 billion.
T-Mobile US (TMUS) – The mobile service provider added 824,000 postpaid phone subscribers during the fourth quarter, bring its 2020 total to 5.5 million.
Not Financial Advice (NFA) Warning: Wall of Text. If you hate reading just skim through the bolded/italicized Ever since I publicized my findings on DKNG, the stock has underperformed & probably has fucked a lot of people here, especially given the overly bullish stance back in June. Unless you took my advice & got into Puts then, congrats, welcome to tendie town. For the ADHD retards, here’s what the next wall of text is going to summarize: I believe at the current price of ~$30, the stock is oversold. A tech-focused, high-growth Company that has made sports betting easy to understand with an aesthetically pleasing interface similar to how Robinhood has neatly laid out stock market gimmicks so even high-schoolers can make sense of it I believe, is underpriced at these levels. Let’s get into some details as to why the stock has underperformed: First off, the news slate revolving sports with the rumored delay/cancellation of the MLB season & the NFL watching from the sidelines is in my view, just a part of why the stock has underperformed. We’ll revisit this later in this post, but I want to focus on the drivers of the stock’s recent underperformance, & why these factors are now in the rearview mirror. Part I – The Past Has Passed – SPAC-related Equity Dilution History lesson first: DKNG went public via a SPAC merger, which has exploded in popularity recently. Anyone serious about analyzing stocks going forward needs to do their homework on this, Google is your friend. A feature of most SPAC merger to public listings that creates a headwind to near-term share prices are embedded equity dilution events, usually in the form of earn-outs (stock bonuses to execs, the SPAC sponsor) & conversion of Warrants. On 5/24, the earn-outs were triggered, adding 6m shares to the share count. On 6/26, 16.3m warrants converted to DKNG, netting them ~$188m of cash. Stepping back a little, in addition to the above, on 6/18 DKNG launched a follow-on equity offering of 16M shares @ $40/Share [1], receiving $621M in proceeds. The last part is tricky to understand from a dilution perspective. To simplify, historically it’s almost a coin toss whether a Company’s shares outperform on the onset of an equity offering. While issuing shares does dilute the existing shareholder base, it theoretically shouldn’t, if the proceeds from the offering are earmarked for investments/projects that yield outsized returns. This is the reality for the long term, theory for the short-term. For the short-term, the ‘reality’ isn’t that the proceeds will be used for investments/projects that yield outsized returns, it is more about how convincing management is to investors that the investments they intend to pursue with the proceeds will outweigh the dilutive effects of issuing incremental shares. That’s a mouthful, but hopefully you get what I’m trying to convey. All of this stuff put together – the Company has increased its share count by ~39M, but now has a whopping ~$1.4Bn of cash [2]. More on this in the next section. Part II – MLB News Should Not Fucking Matter & DKNG Is Positioned As the Leading Online/Mobile Sports Platform DKNG should not be so tied to MLB news or any of this shit as the ongoing success of the NBA/NHL season + Soccer in Europe has effectively created a blueprint on how to regulate player behavior so that they maintain professionalism amidst the pandemic. I’m going out on a whim here, but I truly think the MLB threatening a cancellation of the season is pure posturing to get these fuckers to behave appropriately. Maybe a ‘bubble’ is what it takes to get these players to focus on their jobs instead of going out & contracting COVID, but I argue that isn’t necessarily required given Soccer in Europe. So there’s already a proven path here without the need for a bubble in Soccer, so MLB/NFL should be fine, and execs need to study how they got it done in Europe. Okay, back to some facts. Anecdotally, I’ve kept in touch with a handful of sports bookies from California to New York & even internationally about what they’re seeing – all of them say that since the NBA season started on 7/30 & since Soccer (especially the Premier League) resumed in June, along with other leagues like La Liga & Serie A, they’ve seen massive increases in betting. These numbers are also showing up in the official data [3]:
Average % increase in sports betting handle from April 2020 to June 2020 (handle is the total $ wagered in sports bets) from the states that reported up to June 2020 (NJ, PA, MS, RI, WV, IA, IN, NH) of +258%!
Note: NV is left out due to the site I sourced showing a weirdly negative number – so I dug into the official filings & show specifically, Sports Mobile betting growth from June since April has growing by at least +73% [4]
REMEMBER: This is for June only! No NBA, No NHL, No MLB, just Soccer, Golf, NASCAR & UFC. The data clearly shows that there was a ton of pent-up sports betting demand, which leads one Wall St. analyst to think that betting on the NBA/NHL could ABSORB the MLB’s sports betting handle (handle = total $ size of sports bet) [5]. Remember, the MLB season is still ongoing, with games being played. The entire focus is on the Miami Marlins & St. Louis Cardinals. Fucking retards. Additionally, I want to remind everyone that DraftKings.com is the #1 Fantasy sports website in the U.S. [6]. Also, since April 2020 site visitations are up +86% [7] & Google Search Trends for “Draft Kings” is up ~3xcompared to PRE-COVID levels [8]. What does this mean? They are piquing more people’s curiosity than prior to COVID/ongoing slate of sports. This is important because remember that ~$1.4Bn chest full of cash I mentioned DKNG had assembled earlier? Well, that money is being put to work & results are already coming in, which is exactly what DKNG intended to do with it. Part III – Legalization of Sports Betting in the U.S. I could write a fucking bible on this topic alone, but for now we’ll stick to some basics. Due to COVID, it’s easy to understand that each State’s financial situation is clearly in shit. Because of this, you better believe that these guys are going to start taking a hard look at how they can extract additional tax revenues, & what’s one of the easiest ways to do this? Legalization & taxation of gambling. The big players: CA, TX, FL & NY. First, CA pushing its legislation out to 2023 was fucked up, but here’s a twist I want to add to this: Anything that has to do with gambling in CA you better believe is lobbied against by not just the Tribal casino owners in CA, but by the deep pockets of Las Vegas money. Similar thing can be said for FL, but let’s take a look at some actions by LV/nationwide gambling companies that are starting to align financial incentives with guys like DKNG.
MGM / GVC Holdings JV in BetMGM - $450m total invested
PENN invests $163m into BS Sports
Caesars has a 20% stake in William Hill plus partnership deals with The Stars Group (TSG) & our winner DKNG for operating its sports books
So it’s safe to say going forward, nationwide legalization of sports betting will reap rewards for everyone involved, & no longer be something LV money is completely focused on safeguarding. Let’s also not forget that DKNG didn’t become the Company they are today because of their fancy app, but because their management team has a HISTORY of navigating the U.S.’s legal framework to get what they want out of it.
The Crown Jewel – The Internet Gambling Prohibition & Enforcement Act: I said it in a previous post, but I want to emphasize that them getting Fantasy Sports to be labeled a ‘game of skill’ by FEDERAL Law as opposed to gambling is just something for the history books. Fucking genius shit. When this happened I bet every casino from LV to every Indian Tribe that has one was against it, yet DKNG & other DFS providers won.
There’s more, but more recently: Getting into IL:
In IL, there’s an 18-month ‘penalty box’ for Companies that offer DFS to offer sports betting. Our guys at DKNG created a workaround to this situation with their partnership with Casino Queen [9]. DKNG being savvy again.
Normally a reader and don't post, but calling out whomever said to go deep into $MGM. Brilliant. Vegas and most of the MGM resorts opened today, with most places being booked out. Now some may think it's too late for a play, however, pre-corona, the stock was $30, currently it's sitting at $21. According to the article on why it jumped 10% yesterday, and another 5% today, it's opening, and other casinos have seen a 17% jump in revenue YoY. I think there is still room to grow. https://www.fool.com/investing/2020/06/03/why-mgm-resorts-international-stock-gained-10-toda.aspx Currently vices are up in America. https://www.axios.com/coronavirus-vices-alcohol-marijuana-food-23f02d5e-b82b-4944-8609-b4479af1070e.html Numerous investment articles had been released on how sports gamblers are turning to the stock market to feed that addiction. Well, now actual gambling is opening up again, what is stopping people from turning back to the real thing again? https://www.ft.com/content/4be0d6d3-ccab-48df-83e4-0b726273ccac I think the "back to norm" is happening here with MGM. And i don't think it's too late to make a play. I'm personally in 7/17 $25 calls, I think that gives enough time to see revenue growth and a return to normal. Plus they're kinda cheap still. This autist has stayed about even overall thanks to a few lucky plays. This DD is no ways professional advice, you should do your own Due Diligence if you take market positions.
Alright you fucks listen up. Casinos took a massive hit today (as did everything else) rather then throwin a toaster in your bathtub tonight listen here so we can make some tendies back. Mgm is opening more casinos of the course of the month. With this and NBA and other sports coming back gambling (especially sports gambling) are gonna pop off. But some may so ohhhh the crash is coming ohhhhh here comes wave 2. Mr. Donaldino pumptrino ain’t gonna close everything again he even said it. He needs the market to do well if he’s gonna get re-elected. It’s one of the only things he’s got going for him right now. People are gonna continue to gamble as they always have. Buy your shares or calls now so we can get matching Lambos you fucks. Down 18% in last two days buy this shit and count your tendies with me.
The timeshare presentations in Nevada are getting out of control
“...and walk away with a trip to beautiful Las Vegas Nevada! Enjoy a complimentary 5 day 4 night stay at any MGM casino resort all on us! No nonsense, no gimmicks. Just a bit of your precious time! Call today!” Yes. A vacation extravaganza all on the arm. Courtesy of the Hibou Timeshare Corporation. All it cost was your time and cooperation for a timeshare presentation. Simple enough yes? I wish I would have realized how much better a couple of overtimes would have served me, than taking myself to that horrid building. I was living in Phoenix AZ with my parents. Still half way bullshitting my final semester at college. I’ve got to be honest, I was checked out. It was summer..I was going to graduate and I had these final two classes in the bag. I could have failed my finals and still walked out with a C. Yes but that kind of luxury came at a price. My social life was the casualty in all of this. While I did have a tight knit of pals, my attendance to social gatherings were...well..less than punctual. I was usually doing work for one of my advanced classes. If not that, then I was pulling a shift at either of my jobs. Yeah..you could say I gave up the glamour of late night pizzas, puking in my friends car and hooking up with a random ASU frat sluts for a heavier wallet...except I was paying everything out of my own pocket. My gas, insurance, cell, college. I wasn't exactly hiding cash in the walls. My parents worked hard but..never did make a living to give me and my siblings an extravagant lifestyle. We were grateful though. So when I heard that AD of how I could get a long needed vacation to party central Las Vegas, all for watching some BS timeshare I knew I wasn’t going to buy into, you bet your ass off I made that call. The phone only rang once before I got an answer, “Thank you for calling the Hibou Timeshare Corporation, how can we help you?” a voice rang through the phone. The voice sounded shrill and sickly. “Hi, I'm calling about the vacation in Vegas? Says that you need people for a presen..” “Yeessss.” the voice interrupted “The timeshare presentation, well...we would be so honored to have you” “Uhh..yeah...anyway I’d like to sign up? Is there a form online or do you take the information here?” I said..now feeling a bit tense. “Well I'll tell you what...pack your things for the vacation. When we are finished presenting..we can send you on our way to Vegas. We just need..a bit of your time.” That was that. He gave me the address, date and time of the meeting. The area was in a place called Amargosa Valley in Nevada. Luckily it was just about an hour away from Vegas. Before we parted ways on the phone, the operator said something...he said something that should have been a MAJOR red flag. “Okay then, you’re all set...we will see you July 28th at 4:30pm. Not a moment later” he laughed “Oh..and..one more thing, if you have some more specimens like yourself that might be interested in the free vacation...bring them along. They’ll all receive the same prize and you will receive $100 cash for every person you bring. We look forward to presenting you, Austin. Good day.” I never gave him my name. Still, my young dumb brain didn’t hear anything past $100 dollars. So I rounded up a few of my best pals and we were set to meet the reps over at the timeshare. The days leading up to the trip I couldn't get a hold of myself. It was so exciting. My first real vacation in...i couldn't remember how long. I longed for this type of adventure with my friends. We packed a truck full and set off to Amargosa Valley. I brought Luke, Larry and Adam. We’d been friends since the 3rd grade. We all moved to AZ from different parts of the country that summer, so being new kids we naturally ganged up together. Luke was from Texas..we called him Tex. Real big guy. Loved to work out but definitely was a bit of a boozebag. Larry was from Ohio. Quiet in public but probably the loudest of us all. Always had some political conspiracy to talk about. Then Adam..Adam was interesting. He was from Florida...or Georgia...or Nebraska. Adam never could keep it straight about where he was from. He always had some sort of story and backtrack about where he’d come from. I personally thought he was probably from another part of AZ and just wanted to fit in...so we humor him and let him be the nomad of our group. I myself was originally from California...things got pricey so we made the move to blistering AZ. That was my crew. No matter how long it had been, we were always as tight as ever. The ride was filled with laughing and gags. Stops at fast food joints and all around bullshitting. Yes it was an amazing time just driving there, we couldn't wait to get on with the meeting and head down to Boozeville USA. As we approached our destination...something felt off. Amargosa Valley had been a bit of a ghost town the whole drive. A gas station here. A small outlet there...but otherwise unpopulated. When we hit our destination we were met by a Chrome building. Smack center in the middle of the highway. As we parked at the only stall..we all took a look at each other. “Well this is...odd.” Luke said plainly. “Yeah man...are we really going there?” Adam shook out. Barely containing his fear. “Look guys, I know it looks weird. This place is really clean and bright in the middle of a dusty desert but c’mon. It's like what...an hour of our time? Within 2 hours we’ll be on our way to the dopest guys trip ever.” I said...selfishly. The guys all agreed. We got out, locked the car up and walked in through the sliding glass doors. The cool air hit us like a wave. Each of us breathing in the refreshingly cold air. The inside of this lobby..was also immaculate. Chrome everywhere. Right down to the sofas and chairs. A woman came from around the front desk. “You must be here to be presented. I see you brought more specimens! What a joy! Will you gentlemen please follow me?” She said. Specimens. Ugh. Her tone. That word still makes me shutter. Me and the boys looked at each other..all with the same should we do it look on our faces. Maybe it was the cold air enticing our sweaty brows. We’d been a poorly AC’D truck for a couple hours. Or maybe it was the ice cold drinks she presented in front of us. Whatever the case we followed her through a door behind the front desk and were met with a grand auditorium. It looked as if it could hold maybe 50 people. And all they had was me and my knucklehead friends. As we sat down, sucking down sodas and waters, a mans voice came over the intercom. “Welcome my friends to the Hibou Timeshare Corporation presentation. Today you will be examining the lifetime of these vessels. Determine whether or not you think they are a smart investment and make a choice if you would like to partake!” I recognized the voice. It was the same shrill tone that I set up the appointment with. “Now my dear friends, it's time to sit back with your favorite drink...and listen..” With that, a large projector screen came down from the celine. An old timey countdown began winding down. BEEP3...BEEP2...BEEP1 From what I can remember, I heard the screams of something...unnatural. A scream so high tone that I felt as if my ears would burst with blood. I tried clasping my hands over my ears but to no avail. The screams were too overpowering. As soon as it started, I passed out. I awoke looking at the lights on the celine. Unable to sit up. I could tell I was bareass naked on a metal table. I moved my head, the little that i could to see Adam next to me on another table. Naked as the day we were born. He was encased in what looked like a light purple energy field. Looking more in depth, I too had this field in front of me. Before I could speak the tables raised up. Bringing me upright. Bringing me face to face with Tex. To the left of me..Larry. “My friends, I present to you: Terramite 99-0 specimens.” a voice rang out. The same voice from the auditorium. “They are..of the male species. Strong. Cunning and above all loyal...if raised properly.” “HEY, you bastards. WTF is this! LET US GO!” Tex cried out. Before he could continue, the energy field tightened around him. Tex let out a scream that will haunt me for the rest of my life. The smell of burned flesh and hair filled the area. I would have puked had the horror of seeing my best friend being burned alive wasn't keeping my attention away from the smell. When the field lifted, Tex was stripped down to the muscle fibers. Hair burned down to the scalp. Tex convulsed until he finally relaxed into a hanging position on the table. “Now see..specimen is now sedated. Relaxed into a weaker position. With the energy field keeping him contained and the Auto-Reversal Time Warp engaging, we can have this specimen back into working shape immediately.” There was an electrical hum in the air. As before my eyes, Tex’s skin began to heal. His hair growing back. And all burns subsiding. It was as if nothing had happened to him. He still hung in limbo, but we could see the breath return to his chest.The rest of us let out bits of gasps of horror and astonishment. I could see Adam crying a bit in the corner of my eyes. A figure appeared from behind me. A tentacle graced my shoulder, not even phased by the force field. I caught sight of the creature. It stood around 7foot tall. Skin that looked human but a head that was elongated. No nose. And eyes that were black as coal. It had two tentacles for hands. I could not see its feet, as it was covered by a long gown. Larry screamed in anger. “Your...your...a...a…” he managed to get out before the creature silenced him. “Shhhh….I am...a salesman is all. Now my friends I will demonstrate the life cycle of the Terramite 99-0’s.” With that, Larry's forcefield began to hum. Right before my eyes Larry began to get...smaller. Not in stature necessarily, no, but in age. He went from being a young man..to a teenager..to that kid i met in 3rd grade..to an infant. His cries were extremely loud. Unaware of the horrors around him. At that moment I could hear Adam's field begin to hum. “Please no! Please!” Adam begged. “If you will direct your attention to our third pod:” Adam then began to scream as he went from a young man..to middle aged man...to retirement age and finally...to a decrepit old man. Hair as white as snow. Wrinkled beyond recognition. Each breath looking to nearly be his last. “From birth to the declining ages of 70 to 100 Terran years…the Auto-Reversal Time Warp pods are the perfect tool to use when training your armys, your children, your slaves. Imagine...never having to replace workers. Never worrying if your training methods or punishments might go too far. Never losing a prisoner to death.” The creature said. Full of glee in his dead eyes. Between the crying of baby larry and incoherent babbling of old man adam, the room felt like it was spinning. Just when I thought things couldn't get any stranger, the rest of the lights came to life. The room we were in were surrounded by seats, similar to the ones we sat in. However, sitting in these seats were ghastly creatures of different varieties. Some looked like the salesman creature. Others were ogreish. Large bodied creatures covered in a film of slime. Some of them even looked human. It was the eyes though...their eyes were a teal color with white pupils. Many many creatures looked up me and my friends. All of them began clapping their hands in unison. The claps were deafening. The cries of the baby felt as if a baseball bat was connecting with my head every second. Adams babbling was terrifyingly disturbing. And Tex...hanging there. Eyes rolled back into his skull. I couldnt imagine the hell he began to feel. At this point I wondered what awaited my fate. The clapping stopped abruptly. “Oh...Austin...yes, well if you want to know what fate awaits you just shut your eyes. Shut your eyes and quietly count back from 3.” the creature said...was he reading my mind? Suddenly the urge to close my eyes overtook me. Almost as if I had no choice, I began counting down. 3….2….1…. Everything went black. I wasn't sure if i was alive or dead...or somewhere in between. I saw nothing but black for what felt like a lifetime. And in an instant...I heard that same shrill scream. Only this time I could not cover my ears. I couldn’t feel my body but I felt an unimaginable amount of pain. As the scream grew to its peak, I slammed my eyes open. Trying to catch my breath. I was back in the car...we were all back in the car. The engine was on. Shitty ac blasting. The others were still out. I sat up in my seat. Not wanting to move too suddenly. The sun was beating down on us. I looked over at the time on the dash…July 28th 4:34 pm. I reached into my shirt pocket and I found several vouchers for the MGM hotels in Vegas along with $300 dollars. I also found a card that simply read “Hibou Timeshare Corp. would like to thank you for a bit of your time” The boys came too. All feeling rather groggy. “We all fell asleep huh?” Adam laughed. “We here?” They didn't remember a thing. Not one thing. Not going in...not the reception area...not the freaky timeshare presentation...not one bit. I lied...i told them that while they were sound asleep, we arrived a little earlier than expected. The presenter had an emergency and left our vouchers at the front desk and apologized profusely. “Wow, what a gentleman!” Tex laughed. “We definitely owe it to him to sit through another timeshare, probono.” Larry added. I think it's safe to say that I will not be returning to this or any other timeshare. As I drove away I could see the building disappear in the rear view mirror. So if you’re traveling deep within the southwest of the United States and hear an ad for a free vacation that's too good to be true...do yourself a favor..turn off the radio, call into work and ask for some overtime..because nothing is ever given for free.
Step out of the city and onto the exhilarating casino floor at MGM National Harbor. M life Rewards Program members earn points at MGM National Harbor just as they do at all the MGM Resorts destinations across the country. M life Rewards gets you access to the best MGM Resorts has to offer. Join today and receive: • Up to 15% off room rates • Pre-sale ticket offers to world-class entertainment • Discounts at participating retail shops • Access to unique M life Moments. To view and book offers for Borgata Hotel Casino & Spa in Atlantic City, click here. Retail establishments must close at 10 p.m. and restaurants can stay open for delivery and takeout only. In accordance with the health order, MGM Northfield Park will be open from 8 a.m. to 10 p.m The COVID-19 pandemic closed all commercial and tribal casino properties in the United States. This map tracks reopening across the country at the property-level. A property is considered open based on gambling availability. Please contact an individual property to determine what amenities are available. Current Status: 78 Closed | 919 Open. M life Rewards gets you access to the best MGM Resorts has to offer. Join today and receive: • Up to 15% off room rates • Pre-sale ticket offers to world-class entertainment • Discounts at participating retail shops • Access to unique M life Moments. To view and book offers for Borgata Hotel Casino & Spa in Atlantic City, click here. PA casinos were allowed to re-open as of Jan. 4 after a short closure period, and most did in fact re-open that day or in subsequent days. River Casino Philadelphia remains closed at least untill Jan. 15. Updates From PlayPennsylvania here. Rhode Island casinos. The two Rhode Island casinos, Twin River Casino in Lincoln and Tiverton, re-opened Starting today, Park MGM will close at noon on Mondays and reopen again at noon on Thursdays. The NoMad hotel, casino and restaurants at Park MGM will remain open. MGM's occupancy rate MotorCity Casino Hotel is to open at 10 a.m. Wednesday, followed by Greektown Casino-Hotel at 2 p.m. MGM Grand Detroit will open for invite-only VIP customers Wednesday and Thursday, and at 10 a.m Casino. Following regulatory guidance, our casino floors are open with health and safety protocols that help promote physical distancing and create a cleaner and safer environment. A few of the many safety protocols include: Casino capacity has been reduced to 25% occupancy. Guests are required to answer a series of screening questions and be temperature checked before entering the casino floor. M life Rewards gets you access to the best MGM Resorts has to offer. Join today and receive: • Up to 15% off room rates • Pre-sale ticket offers to world-class entertainment • Discounts at participating retail shops • Access to unique M life Moments. To view and book offers for Borgata Hotel Casino & Spa in Atlantic City, click here.
MGM: Bellagio, NY-NY hotel-casinos could open first - YouTube
Here's a look at what MGM wants to build at National Harbor as part of their casino project. wj.la/16IL3mS. The official YouTube channel for MGM Studios! Las Vegas News May 11, 2020 - Alleged MGM Resorts Opening Schedule. Plus, What some economists are saying about the best and worst cities reopening will be. ... 10 Secrets Casinos Don't Want You to Know. Subscribe for more amazing videos! http://bit.ly/Subscribe-to-Richest Casinos are multi-million dollar business... 7 Points of Safety, 2 Years of Status and 1/2 of a YouTube Episode. On Episode 65 we discuss the details of MGM Resorts International network wide 7 point safety plan for reopening casinos. Learn ... MGM Resorts CEO Bill Hornbuckle says the Bellagio and the New York-New York hotel-casinos will likely be among the first hotels to reopen once it's safe to d... State, federal and local lawmakers joined MGM Springfield officials in reflecting on casino project at a news conference before its opening on Thursday Aug. 23, 2018. (Shannon Young The Republican) We researched when the MGM Grand, Venetian, Wynn, Treasure Island and Caesars Palace open, and here is what we found out!Help fund more quality content? 👉 S... 'Vegas Safely" is MGM's new slogan for their reopening. Face masks, plexiglass barriers, and complimentary hand sanitizer are just some of the amenities you... Maryland's New $1.4B MGM Casino Opens Today WJZ. Loading... Unsubscribe from WJZ? ... First look at MGM National Harbor casino - Duration: 3:55. MassLive 7,731 views. 3:55. Trump's Bone Spurs Act ...
