Mirage Resorts Message Board

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Non-Tech : Mirage Resorts

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To: Steven Silverman who wrote (5)	1/29/1997 1:17:00 PM
From: Mark Crisan	of 15

I think the reason Mirage was up 1 3/8 is because of the fireworks between Hilton and ITT. I've heard that Hilton is interested in getting their hands on ITT (which is the holding company for Ceasar's World Casinos); conversely, I've also heard remarks in the financial press that this is merely a ploy on Hilton's part. According to that speculation, Hilton ITSELF is now in play, and would like to sell to another entity. Both Hilton and ITT have considerable casino assets, and a merger would create the world's largest gaming concern. I think Mirage, being such an established player, traded higher on the belief among investors that further consolidation awaits this sector. I'm no expert, but I think Mirage is attractively priced when one considers the future pipeline of properties they're putting up. If one is interested in a "quick hit" then I don't think Mirage is the place to be. However, if one is willing to buy and hold for a couple of years, the price seems reasonable. It's generally a good time to keep an eye on the top-tier gaming companies -- the whole sector has been lethargic for the last 6 months.

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