Wynn IPO price

[Edward Allen DeVillier]

Wynn's IPO has moved up to October 21 and just had their stock price published at the $21 to $23 dollar range today. :(

20,455,000 shares will be sold.

Funny, Wynn sold Mirage @ $21 a share. I'm actually kind of worried about how things are going. To put myself at ease I remind myself that Bellagio was supposed to opened Oct. 98 as opposed to mid-97 when many pre-construction changes were made.

[DavidB]

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If the IPO comes in that price range, Edward, I don't see how anyone could recommend it for immediate purchase.

I'd be amazed if one couldn't pick it up for considerably less per share within 30-60 days after the IPO.

It still seems to me that when the Coast Casinos IPO arrives, it will be a much better buy. They've got some nice plans for new product a few years down the road, especially in what will become a very popular corridor where St. Rose Parkway meets Las Vegas Boulevard South and I-15.

[Edward Allen DeVillier]

I'm sure this isn't the price of preferred stock since approval to sell was granted yesterday.

Is there a time period between the issuing common stock for the big guys and preffered stock for the little investor?

Curious.

Here is another little read for some of ya' to get you excited....again!

http://www.reviewjournal.com/lvrj_home/2002/Oct-08-Tue-2002/business/19796250.html

Again, my eyes went to the interesting stuff. Noticed that Wynn wants two acres to build a new house. Got me thinking if the golden parachute he had with MGG still stands in that they will buy his house at Shadow Creek?

[Hunter]

Preferred stock and common stock are not the same thing...

Common stock is true equity where preferred is not... Common stock has voting rights and in the case of a liquidation, all stock holders share in the proceeds.

Preferred stock has no voting rights. Preferred stock is usually expected to pay dividends to make it a worthwhile investment... While a dividend for pref. stock is nice, it is not required by law (in some cases other dividends cannot be paid until pref. stock is)... Also, in the case of liquidatiom, the preferred stockholders get paid back their initial investment after common stockholders and bond holders get their share... Being third in line to get paid is never a good place to be :). There are other rules that can make pref. stock more attractive but in general, I would rarely consider it a good investment.

my humble opinion

Hunter

[ October 08, 2002, 02:06 PM: Message edited by: Hunter ]

[Edward Allen DeVillier]

We all know already how Mr. Wynn prefers dividend reinvestment. I'll just watch on the sidelines and hope all goes well for the man.

I can't wait to see not only the design of Le Reve, but his house now! Wynn had had Picasso's son Claude design the carpets at his Shadow Creek home. What's next? Wow!

[Hunter]

Looks like they are lowering the target price to make it more attractive...

<RANT>I CANNOT believe the market sometimes. MGM Mirage announces a great quarter and how does the market react? Down $2.20. ARGHHHHHH!!!!!</RANT>

[Edward Allen DeVillier]

ERRRRRR! Buy! Buy! Buy!

These delays have been killing me.

[prezriv]

It is priced at $13 !!!!

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[Edward Allen DeVillier]

Okay, he just got approval about 2 hours ago as I write this. Wynn and his partner have already stated they will buy 1/3 of the stock. Waiting for numbers to start popping up (or down).

Expect drilling for caissons which will be popping up like trees in a couple of days I hope, really, really, really, really, really, hope.

Mr. Ruffin, get ready to demolish the Frontier.

[ October 25, 2002, 09:16 AM: Message edited by: Edward Allen DeVillier ]

[Edward Allen DeVillier]

Unless a massive surge of buys comes towards the end of today, seems like the seas will be flat and calm. The Wynn boat seems to be floating on glass as the stock is trading 5 cents above $13 now, blah.....

Oh well, gold plate the ceremonial breaking ground shovel Mr. Wynn. Time to build something in your sand box.

[Hunter]

Yeah... I'll be in Las Vegas next week and I want to see some action on the site...

And if not next week, I'll be back in mid November... Staying at TI even... I'm gonna get a view of the construction site and he better be out there digging himself.

[Edward Allen DeVillier]

Some of those dirt piles will stay there to create a noise barrier as part of a condition Wynn agreed to with Clark County and the remaining residences on the course so he can run that cement batch plant from 6am to about 12am. With slightly colder air coming in to LV I'm sure the plant will be loud!

Mr. Gloeb at the DI (now called the Wynn Resorts Building) tells me that before anything structural is built, more excavation is needed including removal of holes 1 and 10 for part of the pool, convention center, and private drive. Also more work on the Sands Avenue.

http://finance.yahoo.com/q?s=WYNN&d=c&k=c1&a=v&p=s&t=1d&l=on&z=m&q=l

Now can I see the renderings Mr. Wynn? Can you count the times I've said that in the past two years?

Hope you get a good room like you did last time Hunter, though work may be occuring further back. Anyone else going?