Riviera Holdings Corp. (AMEX:RIV)
The Company owns and operates the Riviera Hotel and Casino on the Las Vegas Strip and the Riviera Black Hawk Casino in Black Hawk, Colorado.
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worst 30days caps
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Creating a portfolio based on calling outperform on every alcohol, tobacco, pornography and gambling stock I can find.
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totaly going down
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I hear lots of CAPS players citing that the value of the land is higher than their market cap so the stock is obviously undervalued!!
LOL if only they actually owned it. The bank does and the money they owe to various other places. Take a look at a balance sheet for goodness sakes instead of just blindly saying well they are on the strip so they are obviously worth more. Namely cite LTD.
Second, sure people are still going to vegas, but they arent going to crappy places like the Riveria. Have any of you actually been or compared the RIV to other hotels? When people go to vegas they want to feel rich, even middle class people. Nicer hotels that you can stay in for cheap are going up every second that make the Riveria look stupid for being in business. I just stayed at the Venetian in a SUITE with 3 TVs and marble floors for 200 bucks a night. Who would want to stay in a roach infested place?
Some people are simply staying home. You can do everything available at a casino in the comfort of your own home without paying high hotel costs or being embarrassed that you lost. Check out the internet people, play some blackjack, craps, or poker there with very trustworthy sites.
RIVs only chance is to be bought out, and even if they are they will spend so much paying off debt they wont be able to pass along much to shareholders.
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Riv is trading at it's lowest price in almost 3 years. They are not making anymore strip frontage land, and it's getting ready to be surrounded by new upscale properties. Just a matter of time....
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Sin City's earnings, imo, are impervious to our present economic state.
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LAND ALONE IS WORTH ONE BILLION DOLLARS IN LV
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casino is vegas
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Las Vegas land goes for up to $20 million per acre. The riviera sits on something like 20 or 30 acres! Bids for $30+ dollars have been rejected....the stock shouldn't be trading below $30 but it is buy now before it is too late. Should fetch at least $40 per share
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