Druiner, I am not a shareholder but have been an observer of CWN since I used to be a regular in Macau.
I think any investment in the US would be good for CWN as the US economy continues to improve. Also, it also creates diversity in his portfolio of casinos as I would have concerns about Macau's exposure at the moment. While Macau is benefiting greatly from the explosion of wealth in China, I have always had reservations with the looming property bust in there. Also, there is also the trust issue with China in its disclosure and the rumours always circulating about a China crackdown on mainland nationals taking money to Macau. Also, the City of Dreams is built in only a newly established area 15 minutes out of the city and is one of only a few casinos (including the Venetian across the road) in what will eventually be a Vegas style casino area
Any investment in the US would be a positive and would lesson the exposure to Macau. Too many in China have become too rich too soon for my liking. And I don't have a lot of trust in China's lending policies and their true disclosure.
The Cosmopolitan Casino is in a GREAT position on the strip of Vegas, right next door to the Ballagio and more to the newer side of the strip in close proximity to the Monte Carlo, MGM Grand and New York New York, all popular casinos on the strip. I know I like to stay near the Ballagio when in Vegas.
With housing/economy picking up in the US it could be perfect timing. I'd be more inclined to buy CWN if they are successful in their bid. It could be a good time with Macau Casino stocks being hit. Might see how China plays out as it will affect us in Aus as well.
CWN Price at posting:
$15.89 Sentiment: None Disclosure: Not Held
