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To: Paul Senior who wrote (29017)	11/17/2007 6:09:16 PM
From: Madharry	Respond to of 78519

I just read the cover story. Im not sure how well the points are made. The reality is that every thing he says about macao could probably have been said about vegas in the 60s, 70s , 80s and 90s. It seems to be a pretty one sided article which, in a way says this time its going to be different and unlike vegas visitors arent going to increase exponentially as more services and higher services are delivered to macao and the middle class of china explodes. I didnt see this thesis expressed in the article let alone discounted. Personally, I d rather bet on Mr. Wynn than Mr. Tan. I didnt read the aruze article yet. I guess it cant be all bad if Goldman Sachs followed me in, Im surprised they didnt mention my holding.

To: Paul Senior who wrote (29017)	11/17/2007 6:43:00 PM
From: Madharry	Respond to of 78519

also it doesnt give any credit of the cachet of the Wynn name and how they will probably have an inside track when japan considers casino gambling over the next couple of years. With respect to the charts on page 34 he has comments like "Macaus infrastructure needs work to handle much bigger crowds"-duh, " Macau's massive casino expansion cant help but limit profit margins"- only if bigger crowds dont show but why wouldnt they . why should the macao trend be different from the LV trend?

To: Paul Senior who wrote (29017)	11/17/2007 8:46:15 PM
From: Madharry	Respond to of 78519

Well, people who read this thread or bookmarked Madharry found out about aruze on 12/4/06- "I have now got my full position in azecf. (ARUZE) which is japanese maker of arcade games, ownere of arcade parlors , and maker of slot machines and othere gaming machines . The arcade game business is not doing well and is in transition. some of the games are being marketed now as games to be played on cell phones. But the main reasons why I purchased the stock and made it a large position in my portfolio are: 1. It owns a large position in Wynn , whose value is more than the current market cap of the company, so the rest of the business is free. 2. There is a good likelihood that Japan will permit casinos in the next few years there fore ARUZE/Wynn will be a ground floor opportunity. ARUZE will win two ways by participating in a casino and buy selling gaming machines. ARUZE has an excellent website and all of its financial information is there. 80% of the company is family controlled. This is one example where I am liquidating stubs to participate in a new position I really like. 3. The company may benefit from increased consolidation in the gaming industry. 4. The company trades and derives most of its revenue in foreign currency. 5. I believe the Japanese are becoming larger investors in their own stock market. A stock like ARUZE might well capture their interest as japan moves through the casino approval process. As always do your own dilligence."