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Non-Tech : ASCA Ameristar Casinos -- Ignore unavailable to you. Want to Upgrade?

To: Hockeyfan who wrote (4)	8/19/1999 10:28:00 AM
From: brad greene	Read Replies (1) \| Respond to of 24

Reserve Report #1 All ASCA, First of all......a very profitable DD trip. 5 royal flushes on quarter machines......2 on 10-play machines....3 on 3-play machines. I did not notice others having quite the same luck......but others were winning also. Blackjack was a slightly different story, however, as they took about 1/2 of it back.....and I did get a bunch of "Reserve Club" points......which paid for the room one night and a small shopping spree at the giftshop. Anyhow, The Reserve was quite a bit more busy than the last time we visited (March). I would say that there were roughly twice the number of cars in the parking lot....at all hours of the day. During the evenings......about 2x the number of blackjack tables were operating also. The construction has been completed......I saw no welding torch flashes or stuff like that. The staff has not been increased......so most of the change, cocktail and jackpot people were really humping it around....but were not pissed off about it, because they were splitting more tips....with a smaller group. Most all of the employees i spoke with (many)....felt that the casino was building momentum and were very happy in their positions. I did not hear a single negative comment from any employee about the management or working conditions. Most felt ASCA was one of the best gaming outfits to work for. The hotel was booked on all three nights we stayed.....These were Thursday.......Monday, and Tuesday. They are always booked on the weekends. (Vegas overflow). The clients seemed to be upper-middle class.....lots of newer cars in the parking lots. They have many more "multi-play" video poker now, then they did in March.......the 3-play nickles and quarters were very popular.......while the new 5-play and 10 play machines were busy....but not packed. (takes 50 quarters...$12.50.....to load a 10 play machine)....Wow! I would say that about 1/4 of the reel and poker machines are now multi-play........and I also think this is having a "coinage" effect on the entire industry. The Reserve is on top of the shift...IMO. I did visit the two other casinos which are the competition for the Reserve.....and will report tonight on those.....and the Bear Sterns report....(rather positive). I will also report on the cocktail server outfit status. (very positive) The stock seems headed in the correct direction......and while the ask size is larger as the stock moves up.....I think the sizes will be taken out. ASCA is worth about 2x the current price, IMO......and will get there over the next few months. I think the next quarter numbers will surprise.....and I fully expect them to.......I think it is part of the plan, which includes a secondary offering later this year. The Commission called this one at $3.25.......watch what happens.....It will be a cool deal. Lots of value here. bg ps. Cactus Pete's is now packed just about every night, now.....it is part of their very busy season....with "Snowbirds" heading back to the warmer climates.