From the Ashes of the Stardust Casino, A New Vegas Stock Play
Sin city's stocks have been on tilt recently; their collapse coincides with the implosion of the legendary Stardust Casino, yesterday. (Demolition crews blew it up, to make way for a Boyd Gaming project.) As Vegas looks at new ways to win more of your business, our Eric Bolling reveals how you can profit from their gamble.
Eric says Boyd Gaming (BYD) is building a 5300 room hotel complex and the project is a 50% partnership with Morgans Hotel Group (MHGC). Eric says to keep an eye on this stock. They own small boutique style hotels in big cities.
He adds that MHGC is putting $1 billion into the Hard Rock Hotel in Las Vegas.
Jeff Macke says that’s more than Eric has lost at the Borgata!
Guy Adami says Boyd Gaming blew up the Stardust which was the first hotel in Las Vegas. Not great karma. He doesn’t like Boyd so much, although he has no other reason why.
Dylan Ratigan says the stocks had a great run but what happened?
Jeff Macke says the smart money in this space is with Hilton (HLT). Short of a disastrous economic downturn, business travel is strong enough to support them.
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