Empire Resorts, Inc. (NASDAQ:NYNY)

CAPS Rating: No stars

The company through its subsidiaries, owns and operates Monticello Raceway, a harness horseracing facility located in Monticello.

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75 Outperform
25 Underperform
 

All-Star Players

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13 Underperform
 

Wall Street

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Top NYNY Bull/Bear Pitches

The best Bull and Bear pitches based on recency and number of recommendations.

bdava50 (59.13)
Submitted July 05, 2007

Everything hinges on their Monticello casino getting done. The governor, Spritzer, wants it, the politician's want it and the residents want it. I think it could really revitalize the Catskill region. Only some obstuctionist environmental groups are… More

jed71 (99.85)
Submitted September 18, 2014

Absolutely terrible company. And in the gambling / horse racing industry, no less. As most are already aware, the gambling industry has been on the ropes for a few years, and has experienced several recent bankruptcies, the most notable being Trump… More

NYNY VS S&P 500 (SPY)

Recent Community Commentary

Read the most recent pitches from players about NYNY.

Recs

0
Member Avatar CantonTownship (< 20) Submitted: 3/8/2015 7:31:43 PM : Outperform Start Price: $24.85 NYNY Score: -38.61

You can sign this one to ZERO anytime you wish.

Recs

2
Member Avatar jed71 (99.85) Submitted: 9/18/2014 1:19:55 PM : Underperform Start Price: $31.85 NYNY Score: +61.29

Absolutely terrible company. And in the gambling / horse racing industry, no less. As most are already aware, the gambling industry has been on the ropes for a few years, and has experienced several recent bankruptcies, the most notable being Trump Entertainment Resorts. I think the industry is going through a series of changes that will continue to weed out the weak, either through additional bankruptcies or consolidation. The competition seems intense in the industry and I think this consolidation is a necessary event in a healthy free market. A simple review of the financials reveals this company certainly cannot be classified as one of the strong ones, at least not from a financial perspective.

The chart shows the stock has recently popped higher on little to no news (that I can find). I am basically calling BS on this move higher. The fundamentals here are terrible. Cash on Hand is at $15MM with cash burn at approx. $4MM per quarter in the first 6 months of this fiscal year. Accumulated Deficit has grown over the past five years from ($109MM) to a whopping ($190MM), nearly doubling. I don’t see where they have ever turned a profit in the past 5 years – the company consistently books a loss with 2013 losses reaching as high as ($21.5MM), or ($0.73) per share. The amount of outstanding shares has also risen dramatically from 23MM in 2009 to 36.5MM and total equity has gone negative for shareholders. Never a good sign. I’ll finish the pitch with the liquidity statement in the recent 10-Q:

“The accompanying consolidated financial statements have been prepared on a basis that contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of June 30, 2014, we had total current assets of approximately $20.4 million and current liabilities of approximately $27.6 million, including the $17.4 million convertible promissory note ("Kien Huat Note") issued to Kien Huat Realty III Limited ("Kien Huat"), our largest stockholder. We have had continuing net losses and negative cash flow from operating activities, including a loss from operations of $9.6 million for the six months ended June 30, 2014. Management believes the results of the six months ended June 30, 2014 are due to the (i) severe weather that caused a reduction in revenues in the first quarter, (ii) economic and competitive landscape in the region, (iii) a focused marketing effort on mid and high level segments and reduced marketing efforts to the low end segment which resulted in lower gaming revenues, lower free play and lower marketing costs (iv) $7.8 million of development expenses for the Casino Project (as defined below); and (v) reduced racing revenues due to the suspension of all simulcasting other than intra-state simulcasting because a horsemen's agreement was not in place with the Monticello Harness Horsemen’s Association ("MHHA"). However, the Company anticipates that its current cash and cash equivalents balances and cash generated from operations will be sufficient to meet its operating expenses for the next twelve months.”

Excuses, excuses. Are we also going to claim “severe weather” as the reason for the previous 4 years’ worth of GAAP losses?

Recs

0
Member Avatar ShortSeller58 (80.31) Submitted: 5/24/2014 7:30:17 PM : Underperform Start Price: $32.55 NYNY Score: +69.69

Negative equity and horrible margins. Profits are rare. Short sell

Leaderboard

Find the members with the highest scoring picks in NYNY.

Score Leader

sunshinegirl62

sunshinegirl62 (69.29) Score: +208.35

The Score Leader is the player with the highest score across all their picks in NYNY.

Top
Pick
Member Name Member
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
Index
Gain
Score Commentary
sunshinegirl62 69.29 8/26/2009 Underperform 5Y $48.75 -56.41% +151.94% +208.35 0 Comment
StockBoy1337 60.03 8/21/2009 Underperform 5Y $45.15 -52.94% +152.47% +205.40 0 Comment
This player feels very strongly about this pick and has marked it a Top Pick. Top Picks do not affect a player’s score. streetflame 29.14 11/16/2009 Underperform 5Y $46.80 -54.59% +133.61% +188.21 0 Comment
SheckyGreenGame 68.72 3/9/2007 Underperform 1Y $151.65 -85.99% +93.68% +179.66 0 Comment
ozarksmart < 20 12/22/2006 Underperform 3M $139.20 -84.73% +94.01% +178.75 0 Comment
DonEd 98.96 1/8/2007 Underperform 3M $132.15 -83.92% +94.60% +178.52 0 Comment
daftdada 87.20 2/26/2007 Underperform 1Y $178.80 -88.12% +87.68% +175.80 0 Comment
Joe1962 33.28 2/23/2007 4/1/2008 Underperform 5Y $174.45 -87.82% +87.80% +175.62 0 Comment
JackOffBadApples 90.40 9/12/2008 Underperform 3W $52.05 -59.17% +114.02% +173.19 0 Comment
residentialclown 83.70 8/20/2008 Underperform 5Y $49.95 -57.46% +108.88% +166.34 0 Comment

Wall Street

See what the Wall Street professionals think, according to their public statements and filings.

Player Name Player
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
S&P
Gain
Score End Date Commentary
TrackNCPI < 20 3/29/2007 Outperform NS $144.90 -64.80% +3.61% -68.41 12/3/2007 @ $51.00 0 Comment

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