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Strategies & Market Trends : Value Investing

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To: JakeStraw who wrote (26298)	3/13/2007 1:55:39 PM
From: Madharry	Read Replies (2) of 78621

I read the article with interest as I own Aruze which has a big stake in WYNN. Unfortunately there is little to hang my hat on in the article. To argue that its undervalued based on cash flow projections in 2009 when the casinos have not opened yet seems questionable to me. I realize that they have to use some kind of numbers to come up with cash flow projections in order to do the ipo and get project financing but at these valuations I would rather real numbers from an operating fully built casino. According to yahoo mpel has a market cap of $6Billion, while the market cap for Wynn is $9billion. But Wynn has operating casinos and a history of innovation and great success in the casino business. So I dont know why anyone would prefer to purchase MPEL over WYNN.

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