Hi Zacko, I'm not going to debate you on the relative merits of CZR vs FEX as we all have different viewpoints on these things and thats what makes the market... and to be honest, most of what you said sounds reasonable and fair...
All APART FROM one specific comment that is "While you may be taking the position that the current deal undervalues your CZR holdings, I strongly believe this will result in a much better long term gain than the original deal for CZR." This is patently incorrect. The original deal was going to give us 44c/sh as well as holding on to our other assets. We could have taken that 44c/sh and, if interested in FEX, immediately gone and bought 1.6 FEX shares at todays price and enjoyed 60% more exposure to whatever upside you indicated above. So regardless of whatever future you see for FEX, this is most definitely NOT "a much better long term gain than the original deal for CZR."
Just my thoughts.
CZR Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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