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Non-Tech : MGM Grand Hotel and Casino Symbol MGG
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To: battle beast who wrote (11)7/20/1997 8:52:00 AM
From: Randy Atkins   of 96
 
BB, I think MGG will give a nice surprise.

Overall winnings for Nevada casinos jumped 9.6% in May, which was the biggest single-month jump since December 1995. On the strip, casinos won $337.5 million, a 17% gain from the same period last year. A large part of that was bacarrat winnings, which jumped 123% over last year (47.3 million vs. 26.2 million). As you probably know, bacarrat figures are a BIG part of MGG's business, and was attributed as being a large part of the decrease in win at MGM last quarter. The opposite will be true this quarter. Plus, with the "cash cow" New York New York just across the street, MGG is in a very good position to squeeze some shorts.

I plan to add to my position tomorrow.

--Randy

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