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$ACAC Merging w/ Playstudios - Undervalued MGM-Backed Online Gaming/Gambling/Return to Normal Play?

$ACAC Merging w/ Playstudios - Undervalued MGM-Backed Online Gaming/Gambling/Return to Normal Play?
Wondering what everyone's thoughts are regarding Playstudios merging with ACAC. Seems to have oddly dropped below even where it was when it was in the rumour stages. Here are some of the investment notes I've gleaned from my research.
Please help provide more bear (or bull) cases if possible!
Summary
⦁ Online gaming company with major backing and investments from MGM Group, Blackrock, Activision Blizzard, and Neuberger Berman
⦁ Playstudios' game profiles include: myVEGAS Slots, POP! Slots, myKONAMI Slots, myVEGAS Blackjack, and Kingdom Boss + myVEGAS Bingo coming soon
⦁ >100M lifetime app downloads
⦁ 4.2M monthly active users
​
From PlayStudios investor deck
⦁ 56 minutes playtime/day (more than TikTok, YouTube, etc. as per Skillz' research), fairly comparable to Skillz as well (their data below)
Skillz data on minutes per user per day - Playstudios is 56 minutes/day
⦁ Unique loyalty rewards program that engages sticky user base by providing free rooms, meals, drinks, at many Las Vegas resorts such as Bellagio, Aria, MGM, Luxor, Mandalay Bay, etc., as well as exclusive gambling room access in select casinos
⦁ Valued at $1B enterprise value at NAV
⦁ Using capital injection to develop new apps, M&A with other gaming companies
Bull Cases
⦁ SPAC Management group is quite stacked and very heavy on online gaming, and gambling sectors
⦁ Co-CEO Edward King has experience at Morgan Stanley as Managing Director and Global Head of Gaming Investment Banking
⦁ Co-CEO Dan Fetters also has experience at Morgan Stanley as Managing Director of M&A
⦁ EVP of Acquisitions Chris Grove is a partner at Eilers & Krejcik Gaming
⦁ Chairman Jim Murren former CFO, Chairman, and CEO of MGM for over 20 years (12 years as Chairman, CEO) and led the recovery of MGM post-financial crisis. Currently also Chairman of COVID 19 Response in Neveda
⦁ Other Board members include the President and CEO of the Boston Red Sox and Chief Exec. of Fenway Sports Management, Senior VP of Monumental Sports and Entertainment, former CEO of ShooWin, and FoundeCEO of Sydell Group (lifestyle hotel chain)
⦁ Playstudios exec. team also all have long history of gaming, and gambling sectors
⦁ TAM of mobile gaming only set to continue to grow YOY
⦁ Loyalty program appears to be very sticky for Vegas visitors, as well as offering a clear value add for even non-gamers to participate (free drinks, hotel stays, etc.), and causing a virtous cycle from user app engagement -> real-life reward redemption -> resort app offers -> and back
Virtuous Cycle - from PlayStudios investor deck
⦁ Undervalued in terms of PS ratios comp. to other mobile gaming companies (Zynga, Playtika, etc.), and EBITDA basis
⦁ History of strong app development and revenue growth without major capital injection
⦁ History of profitable business model, stronger revenues than a Skillz ($270M for Playstudios v. $255M for Skillz)
Revenue Growth and DAU Chart - from PlayStudios investor deck
⦁ All apps have strong user experience and reviews are exceptional
⦁ Very large amount of shares set to exit lock-up 12 months after de-SPAC
⦁ During the lockdowns, the global market for social casino games grew 24%, indicating a strong hedge play against another locked down economy
⦁ Massive list of partners
Partners List - from PlayStudios investor deck
⦁ Very valuable subset of audience
From PlayStudios investor deck
Bear Cases
⦁ Perhaps one of many entrants into an industry of very high competition
⦁ EBITDA near-term is not super strong
⦁ Some SPAC cash usage not ideal ($150M going into founder's pockets)
⦁ Not in a very hype sector like EV, Space, etc.
​
TLDR: I think Playstudios is under-the-radar, competitively differentiated, and undervalued comp. to other mobile gaming companies right now at ~$11.20/share, and see near-term upside as a long-hold given the major partners and big names behind it (MGM primarily, Activision Blizzard secondarily).
Disclosure: 5000 shares of ACAC
Disclaimer: I am not a financial advisor... do your own due diligence.
submitted by GullibleInvestor to SPACs [link] [comments]

Tuesday, 26 January 2021

Tuesday, 26 January 2021
Live Updates
First Post:
https://www.reddit.com/wallstreetbets/comments/kuwg1e/i_have_a_discount_trading_bot_which_gives_out/
Background:
Bot Overview:
It's showing an opportunity that you may have missed otherwise, so you can decide for yourself if you want to pursue the discount of a stock for potential profits. Backtesting has not been done, do not YOLO your life savings into whatever stated risking it all. Rather use this as a side tool.
Key:
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At Close of Monday
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Batch 1:
Maybe:
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Batch 2: Company | Current Price | Average Price
Call:
Potential Call:
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At Open of Tuesday
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Batch 1:
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Maybe:
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Batch 2: Company | Current Price | Average Price
Call:
Potential Call:
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Batch 3:
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Donation Link:
I have created a donation link (as many of you guys requested that I do) just as an addition to help support and motivate me to continue.
www.paypal.me/WallStreetTrader
Update:
Will update close it in an hour of this post.
Suggest tickers, I will add them to the database.
Adding batches
Close Batch 2 Added 10:03 pm Monday, 25 January 2021 (GMT-5) Time in New York, NY, USA
Close Batch 1 Added 8:26 am Tuesday, 26 January 2021 (GMT-5) Time in New York, NY, USA
Open Batch 2 Added 9:59 am Tuesday, 26 January 2021 (GMT-5) Time in New York, NY, USA
Open Batch 1 Added 10:06 am Tuesday, 26 January 2021 (GMT-5) Time in New York, NY, USA
More tickers added.
submitted by DumplingGoddessTe to WallStreetTrader [link] [comments]

26 Capital Corp (ADERU) is a new at-NAV SPAC with world-leading online gambling expertise - worth a bet

EDIT - one week after i posted this, Britain's most successful hedge fund manager Michael Platt has taken a 6.5% stake
tl;dr
At-NAV new SPAC with world-leading expertise in online gambling. Worth a bet on potential to be next DKNG on the hype train
   
+++++++
Hi all - have had a lot of great tips from this sub. Hopefully this pays some of you back. I have been watching and researching this since 23 December when it first filed S1, awaiting the units to be listed - they are available today trading as ADERU
Positions - 500 units @ 10.42 to start. Will be monitoring and building position below $15, especially if attention starts to build ahead of units and warrants splitting and shares coming available to Robinhood.
(My other SPAC positions are OPEN, IPO-E-F, PSTH, FUSE, PIPP, ACTC, CCIV and DMYD, 100 to 1000 shares each mostly around NAV and numerous warrants and options around these.)
As ever, this is not investment advice and do your own research
+++++++
   
26 Capital Acquisition Corp or ADER
is a 240m SPAC with usual terms - 10$ units, 1/2 warrants. Seeking a merger in "gaming and gaming technology, branded consumer, lodging and entertainment, and Internet commerce sectors".
I think this is highly worth a play on the online gambling hype if you can get in at near NAV, based entirely on the management which is unbeatable in its knowledge of the gambling industry
   
CEO Jason Ader
has held director level positions at Las Vegas Sands Corp. ($42bn one of biggest casino groups in world), IGT (£3.72bn multinational gambling firm specialised in software and slot machines) and Playtech (£1.4bn multinational gambling software firm)
Before starting his own fund in 2013 he was regularly ranked Wall Street's top analyst on the gambling and leisure sector
His fund, Spring Owl Capital, is a small activist fund focused on gambling and leisure. They are probably most famous for ousting the CEO of Viacom in 2016 and a crusade against Yahoo CEO Marissa Meyer in 2015.
Ader knows the gambling - and online gambling - industry inside out. He drove bWin to a £1.1bn takeover by gambling giant GVC (now Entain) in 2016, and has been driving similar change and demands for improvement at board level at Playtech
The fund mostly manages money for a select group of wealthy families, which could be a positive sign for the SPAC (although I don't know how much skin in the SPAC the fund has, if any)
Here is a video of Ader from November talking about how he's excited about SPACs. He talks about how he has been advising certain States about legalising sports betting and how to maximise value and liquidity by linking up with European companies in the space (Playtech e.g.??).
Ader is extremely bullish on US legalising online casino and more sports betting options, accelerated by need for revenue because of pandemic
   
Rafi Ashkenazi
One of the most highly respected names in the online gambling world, including COO and CEO positions at major online gambling firms such as Playtech and Stars Group (a world leader in online poker and casino). At Stars he led the $4.7bn takeover of Sky Betting to create the world's largest publicly listed online betting firm in 2018. Most recently he led the £10bn merger between Flutter (biggest gambling company in world by revenue, market cap £26bn), and Stars Group (Ader also involved). Also has connections into the booming Israel tech space which is interesting
   
Joseph Kaminkow
Special Advisor to the Chief Product Officer at Aristocrat, a leading gambling software provider and games publisher, previously Vice President of Game Design at Zynga Inc. This guy is a former video game / pinball designer who is credited with revolutionising the slots industry after moving into gambling software from video games in 1999. Regarded as a "legend" and "hall of famer" in this niche. At Zynga he designed so-called 'social casino games' which don't involve real-money gambling but are otherwise basically gambling apps (revenue from microtransactions etc). 130 patents on gambling/gaming design inventions
   
Greg Lyss
This is a very interesting but extremely low profile person. He was Bill Ackman a.k.a SPACman's right hand man at Gotham Capital. Ackman respected him so much that when Ackman set up a personal hedge fund to invest the Ackman family's money, he put Lyss in charge of it. To repeat - Bill Ackman thinks this guy is such a good investor and trustworthy that he put him in charge of investing his family's money. Don't know anything more about him, but I like this association with Ackman, which suggests to me some integrity around management of this SPAC, especially as the gambling world can be very murky.
The other member of the team is the CFO of SpringOwl with 20+ years' hedge fund experience and not notable (although clearly competent)
   
Thesis / potential targets
Based on the above experience and many public comments by Ader over the past year, I would be very surprised if ADER is not looking to merge with an online gambling technology provider / existing online betting website / social casino app / possibly a supporting technology provider
They are activist inventors, and specifically say in the IPO prospectus that they could look for businesses that can benefit from turnaround or are not being run well. I speculate that their deep knowledge of the European / global online gambling industry means they have a target in mind that they think would benefit from their expertise and US liberalisation of gambling legislation.
   
1) Ader believes the listing of UK-listed gambling companies in US is immediately big in terms of market cap because of the premium on online gambling stocks in US. He has pitched DraftKings to takeover Playtech and called on Playtech to spin off non-core business. This makes me wonder if he would spin off some element of Playtech to list in US to cash in on gambling hype.
This might be Finalto.com / TradeTech which is an online financial platform owned by Playtech. Playtech has been trying to sell this for 200 - 240m since August so it fits. This company provides liquidity and trading to brokerages and runs markets.com a trading site. I wouldn't be that excited although apparently the business has been booming during COVID and there could be a decent pop just on fintech hype.
   
2) This could be a 'picks and shovel' type data/B2B betting software play a la DMYD, or something like e.g. Israel based CRM software Optimove which works with some of biggest online gambling cos and has links to Ashkenazi. This would be interesting but probably not a huge pop
   
3) Possibly - given Ader's links to Sands - an online gambling tie-up with one of the big Vegas casinos who are desperate to get into the online betting space (see MGM's attempt to buy Entain for $8bn last week). Interestingly, Sands' owner Sheldon Adelson, previously a major opponent of online betting, has just died. Ader predicted a few months ago that Sands would be moving in this direction.
“There’s no stopping online gaming,” Ader said [before Adelson's death]. “(Las Vegas Sands’) initiatives to stop online gaming, at this stage, are largely historic. There hasn’t been a lot of spending recently to do that, especially post-pandemic.”
“I think the company will see the value created by DraftKings and FanDuel and Penn (National) Gaming and others. They’re not foolish,” Ader added. source
   
4) Ader is very confident that Macau will legalise online gambling in next year or two. Sands is big in Macau, the biggest gambling market in the world. A SaaS-type product positioned to capitalise on Asian gambling would be MASSIVE - at present however, China's attitude to gambling and local regulations mean this is unlikely
   
5) I also wonder if they might try to take legitimate one of the offshore bookmakers with big customer databases and brand recognition but which have been grey-area/illegal under US gaming legislation. For example, Five Dimes recently announced a settlement with the FBI to attempt to transition into newly legalised US markets. This might have the most hype potential
   
Potential upside
This is entirely a play on management experience and the meme factor / hype around online gambling in the US. I think if they pick a good target - which given their experience and connections seems likely - and get the right publicity and attention from retail investors looking for the next DKNG this could easily 3x and maybe 5-6x if on DKNG-type hype levels.
There is currently little spotlight on this and it is a good time to get in at NAV
   
Potential Downside
submitted by calcio1 to SPACs [link] [comments]

Lost in the Sauce: Barr's DOJ shut down investigations of Trump and admin officials

Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis.
Housekeeping:

Post-election

On Saturday, Trump announced on Twitter that he has put his personal lawyer Rudy Giuliani in charge of his campaign's long-shot post-election legal challenges. Other people on the team include Joseph diGenova, Victoria Toensing, Sidney Powell, and Jenna Ellis.
  • Giuliani worked with a Russian agent to smear Biden. diGenova and Toensing tried to get the Justice Department to drop charges against corrupt Ukraine oligarch Dmytro Firtash. Powell represents Michael Flynn and champions "deep state" conspiracies. Ellis said gay marriage leads to pedophilia.
NYT: Mr. Trump turned to Mr. Giuliani earlier on Friday in reaction to the latest setback he faced in court, this one relating to votes in Maricopa County, Arizona… A half-dozen other Trump advisers have described Mr. Giuliani’s efforts as counterproductive and said that he was giving the president unwarranted optimism about what could happen… In an Oval Office meeting with aides on Thursday, Mr. Trump put Mr. Giuliani on speakerphone so the others could hear him. He angrily accused the aides of not telling the president the truth
Giuliani’s conspiracy-riddled rant at Four Seasons Total Landscaping was so disastrous that it “scared off many of the lawyers” recruited to argue election-related lawsuits. Politico: “Campaign officials described the episode as disastrous...there are widespread concerns within Trumpworld and GOP circles that Giuliani’s antics are thwarting the president’s legal machinery from within.”
Two major law firms have withdrawn from Trump campaign cases as his legal challenges crumble. Arizona’s largest law firm Snell & Wilmer dumped the RNC and Trump campaign effort to challenge votes in Maricopa County. Porter Wright Morris & Arthur is abandoning Trump’s attempt to block Pennsylvania's popular vote for Joe Biden.
  • In one day (Friday), nine cases meant to attack President-elect Joe Biden's win in key states were denied or dropped - seven in Pennsylvania, one in Arizona, and one in Michigan.
The new federal chief information security officer, Camilo Sandoval, has already taken leave from his day job to participate in a pro-Trump effort to hunt for evidence of voter fraud in the battleground states. The group, Voter Integrity Fund, is a newly formed Virginia-based group that is analyzing ballot data and cold-calling voters. Sandoval was officially appointed on Nov. 4, 2020, but lists his starting date at October on his personal LinkedIn page.
WaPo: Sandoval is part of a hastily convened team led by Matthew Braynard, a data specialist who worked on Trump’s 2016 campaign. Another participant is Thomas Baptiste, an adviser to the deputy secretary of the Interior Department who also took a leave to work on the project. Braynard said in an interview that several other government officials on leave are also assisting the effort, but he declined to identify them.
Media’s role:
  • Facebook Cut Traffic To Leading Liberal Pages Just Before The Election: Liberal page administrators who spoke with BuzzFeed News said that their reach declined by as much as 70%, and still hasn’t recovered.
  • Facebook Live Spread Election Conspiracies And Russian State-Controlled Content Despite Employee Fears: The social network’s live video tool has recommended videos featuring misinformation and the hyperpartisan views of Trump allies leading up to and following election day in the US.
  • In the week after the election, Trump’s postings dominated Facebook, accounting for the 10 most engaged status updates in the United States, and 22 of the top 25. “I WON THIS ELECTION, BY A LOT!” was his top post.
  • YouTube Is Doing Very Little to Stop Election Misinformation From Spreading
  • Social media app Parler receives financial backing from conservative hedge-fund investor Robert Mercer and his daughter Rebekah, The Wall Street Journal reported. Parler turned into a kind of de facto home for conservatives’ protests against the election— including the persistent “Stop the Steal” campaign— after the race was called for former Vice President Joe Biden. Several high-profile conservative social media personalities encouraged people to abandon Twitter and Facebook because of their moderation policies, and instead follow them on Parler.

Transition

Emily Murphy, the head of the General Services Administration, still hasn’t signed the official letter that would allow the incoming Biden team to formally begin the transition. House Democrats are assessing options to force the GSA’s hand, which could include summoning Murphy to the Hill to testify or suing her. “Obviously, Congress could file suit against the GSA administrator for failing to do her duty. We could seek to get a court to, in fact, issue an order
Her ascertainment is the legally necessary precursor to the government’s assistance to the Biden-Harris Presidential Transition Team. It releases $6.3 million dollars to the team, which is funded by public and private money; a loan of expanded federal office space and equipment; access to government agencies that will begin sharing information and records about ongoing activities, plans and vulnerabilities; national security briefings for the president; and other support.
  • The Office of the Director of National Intelligence recently confirmed that it is not providing national security briefings to the president-elect. The Defense Department has also reportedly indicated that it will not meet with the Biden-Harris transition team until Murphy formally affirms the apparent winner.
One of the officials fired in Trump’s latest purge was helping prepare for the transition to the new administration. USAID Deputy Administrator Bonnie Glick was removed abruptly to make way for a Trump loyalist after she had been supportive of transition planning, including the preparation of a 440-page manual for the next administration.
The GSA’s refusal to enact the transition has locked Biden’s team out of crucial Covid-19 pandemic data and government agency contacts. The president-elect’s Covid-19 task force has been trying to work around the federal government by connecting with governors and the health community.
  • The head of Operation Warp Speed, Moncef Slaoui, called on the White House to allow contact with the Biden team, saying “It is a matter of life and death for thousands of people.”
White House’s Office of Management and Budget is considering 145 new regulations and other policy changes they could enact before Biden’s inauguration - rules that will be challenging to undo once they are finalized. Critics and supporters of the administration say they expect a final burst of regulations to be finalized in the weeks before Jan. 20.
The rules under development include policies that the incoming Biden administration would probably oppose, such as new caps on the length of foreign student visas; restrictions on the Environmental Protection Agency’s use of scientific research; limits on the EPA’s consideration of the benefits of regulating air pollutants; and a change that would make it easier for companies to treat workers as independent contractors, rather than employees with more robust wage protections.
Last week, both Secretary of State Mike Pompeo and White House trade adviser Peter Navarro said they’re preparing for a second Trump term. “There will be a smooth transition to a second Trump administration,” Pompeo said during a news conference Tuesday afternoon (clip). Pompeo then doubled down on Fox News (clip). “We are moving forward here at the White House under the assumption there will be a second Trump term,” Navarro said on Fox Business Friday (clip).

DOJ interference

Attorney General William Barr stopped career prosecutors in DOJ’s Public Integrity Section from investigating whether President Trump broke any laws related to his conduct with Ukraine last year. The section was initially given the green light to pursue “a potentially explosive inquiry” into Trump, but after the Senate acquitted the president during impeachment proceedings, Barr sent the case to the U.S. attorney’s office in Brooklyn.
Prosecutors in DOJ’s Public Integrity Section were also prevented from bringing charges against former interior secretary Ryan Zinke by political appointees atop the Justice Department. Deputy Attorney General Jeffrey Rosen told prosecutors that they needed to gather more evidence and refine the case against Zinke for lying to Interior investigators.
  • The investigation into Zinke stemmed from his decision to block two Native American tribes—the Mashantucket Pequot and Mohegan—from opening a casino in Connecticut. Zinke’s office had been lobbied heavily by MGM Resorts International, which had been planning to open its own casino very close to where the tribes intended to break ground.
Sixteen assistant U.S. attorneys specially assigned to monitor malfeasance in the 2020 election urged Barr on Friday to rescind his memo allowing election-fraud investigations before results are certified. "It was developed and announced without consulting non-partisan career professionals in the field and at the Department. Finally, the timing of the Memorandum's release thrusts career prosecutors into partisan politics," the prosecutors wrote.
An internal Justice Department investigation found that federal prosecutors who oversaw a controversial non-prosecution deal with Jeffrey Epstein in 2008 exercised “poor judgment” but did not break the law. “They just say he used poor judgment, and that's their way of basically letting everyone off the hook while offering some sort of an olive branch to the victims that we acknowledge weren't treated perfectly,” said Brad Edwards, who sued the DOJ in 2008 on behalf of Epstein accusers.

Immigration news

Eastern District of New York Judge Nicholas Garaufis (Clinton-appointee) ruled that Chad Wolf was not legally serving as acting Homeland Security secretary when he signed rules limiting DACA program applications and renewals. Therefore, in a win for Dreamers and immigration activists, Garaufis said the changes were invalid.
The judge described an illegitimate shuffling of leadership chairs at the Department of Homeland Security, the agency responsible for immigration enforcement, for the predicament of Wolf's leadership and that of his predecessor, Kevin McAleenan.
"Based on the plain text of the operative order of succession," Garaufis wrote in the Saturday ruling, "neither Mr. McAleenan nor, in turn, Mr. Wolf, possessed statutory authority to serve as Acting Secretary. Therefore the Wolf Memorandum was not an exercise of legal authority."
  • There's a renewed push to get Chad Wolf confirmed as Homeland Security secretary -- a position in which he's been serving in an acting capacity for a yearr -- before Inauguration Day. In the past week, Homeland Security officials spoke to Senate Majority Leader Mitch McConnell's office about bringing the nomination to a floor vote in the coming weeks.
Within the last six months, as the coronavirus pandemic gripped the US, the Trump administration filed 75 lawsuits to seize private land along the US-Mexico border for the border wall." People right now are having to choose between their health and their homes," said Ricky Garza, a staff attorney at the Texas Civil Rights Project, a legal advocacy group.
After a series of price increases, Trump’s border project will cost taxpayers $20 million per mile of border fence. A review of federal spending data shows more than 200 contract modifications, at times awarded within just weeks or months after the original contracts, have increased the cost of the border wall project by billions of dollars since late 2017.
DHS has expelled unaccompanied immigrant children from the US border more than 13,000 times since March, using the coronavirus as an excuse to deny children their right to asylum. Previously, unaccompanied children were sent to government-run shelters as they attempted to pursue their asylum cases.
Migrant children from Central America are being expelled to Mexico, where they have no family connections. The expulsions not only put children in danger - the policy violates a diplomatic agreement with Mexico that only Mexican children and others who had adult supervision could be pushed back into Mexico after attempting to cross the border.
The House Judiciary Committee released a report on the Trump administration’s policy of separating families at the border, revealing that the federal agency that cares for migrant children was not told about the policy. The chaos contributed to the inability to later reunite parents and children.
The Trump administration is trying to deport several women who allege they were mistreated by a Georgia gynecologist at an immigration detention center. Hours after one detained woman spoke to federal investigators about forced hysterectomies at a Georgia detention center, she said ICE told her that it had lifted a hold on her deportation and she faced “imminent” removal. Six former patients who complained about Dr. Mahendra Amin had already been deported.
Northern District of Illinois Judge Gary Feinerman (Obama-appointee) blocked a key Trump administration policy that allowed officials to deny green cards to immigrants who might need public assistance Advocates who had feared that the policy would harm tens of thousands of poor people, particularly those affected by widespread job loss because of the coronavirus pandemic.

Miscellaneous

Microsoft said it has detected attempts by state-backed Russian and North Korean hackers to steal valuable data from leading pharmaceutical companies and vaccine researchers. “Among the targets, the majority are vaccine makers that have COVID-19 vaccines in various stages of clinical trials.”
Two census takers told The AP that their supervisors pressured them to enter false information into a computer system about homes they had not visited so they could close cases during the waning days of the once-a-decade national headcount.
The Supreme Court on Tuesday signaled it’s unlikely to tear down Obamacare over a Republican-backed lawsuit challenging the landmark health care law. Chief Justice John Roberts and Trump appointee Justice Brett Kavanaugh strongly questioned whether the elimination of the mandate penalty made the rest of the law invalid. Kavanaugh appeared to signal on several occasions that he favored leaving the rest of the law intact if the mandate is struck.
Texas Attorney General Ken Paxton (R) was sued last week by four whistleblowers claiming that he abused his office to benefit himself, a woman with whom he was said to have had an affair, and the wealthy donor who employs her before retaliating against the members of his staff who reported him to the FBI.
The Trump administration is rushing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of Biden, who has vowed to block oil exploration in the rugged Alaska wilderness. Biden’s efforts could be complicated if the Trump administration sells drilling rights first. Formally issued oil and gas leases on federal land are government contracts that can’t be easily yanked.
submitted by rusticgorilla to Keep_Track [link] [comments]

Is Golden Matrix Group $GMGI About To Surprise Wall Street?

-Golden Matrix, a B2B gaming and sports betting software platform provider with a turn key solution to all customer needs for successfully operating and maintaining an online gaming/sports betting website.
-Golden Matrix has recently filed an application for a Nasdaq Capital Markets Uplist with approval pending.
-Golden Matrix and Playtech announced a collaboration agreement that has just kicked off this month including GMGI's all new Esports & Peer2P apps.
-Golden Matrix reached an agreement with Amelco Gaming to distribute Amelco's leading international sports betting software white labeled in the APAC Region.
-Knutsson Holdings Invests $5M with GMGI purchasing 1 Million shares at $5.00 each.
What is Golden Matrix?
Golden Matrix Group GMGI is a very unique part of the online gambling industry that doesn't get much recognition compared to the actual sports betting companies and casinos, such as Draftkings DKNG or BetMGM. Draftkings for an example is a front-end operator Business to Consumer (B2C), they are what the consumer sees on the app. Where on the other hand, GMGI is the back-end white labeled software platform, Business to Business (B2B). GMGI has everything provided to convert a land based brick and mortar casino to an online casino, including everything from data analytics, games, game management, payment gateways, currencies, languages, 24/7 tech support and more. So what I'm trying to say is Golden Matrix has everything required to setup an online casino or sports betting application. With what's going on in the world today, an online presence is a must. So this is how GMGI and GAN type companies differ from the rest of the online gaming world, as their work is mainly behind the curtains, but are needed in order to run an online casino or sport betting platform.
Seeing Golden Matrix is not a front-end B2C retail casino, they do not have to pay hundreds of thousands or even millions to advertise. As a matter of fact they don't have to pay anything, which in turn keeps the operating expenses nice and low. They make their money by setting up operators at no cost and make their money licensing the front-end casinos, usage, and providing services. It's much more low key, and they don't have to be the bank like all the front end companies such as Draftkings, BetMGM, Bet365, etc...
Continuous Revenue Growth
Here's a brief summary on Golden Matrix's more recent growth. Just since last January (2020) they have grown their operators (Casinos) from 150 to 457 of them today, a 205% Increase, and Registered End Users from 1.5M to 3.9M today, a 160% Increase in the same time frame. Those numbers to me show solid company growth, and the quarterly financials reflected from this growth as Q1 Revenues were $882K, Q2 $1.04M, Q3 $1.49M, and Q4 is expected to exceed $1.7M as quoted by Golden Matrix. Those quarterlies show me that they have grown their revenues by nearly double in the year 2020. I'm expecting these revenues for last year will total approximately $5.1M+ and can do another easy double in 2021 if not more $10.2M+ On top of all this solid core growth GMGI has also been able to maintain profitability for the past nine consecutive quarters, while growing out their top end numbers. The gross profit last quarter (Q3) was 58% and the net income was only roughly $40K. In my opinion this is a good thing considering the competition GAN who trades in the Nasdaq, lost $4.1M during that same third quarter. Profit is profit, which is an complete rarity in this sector. I'm looking forward to seeing the Q4 numbers on or before the March 15th 2021 deadline.
Nasdaq Capital Markets
Golden Matrix filed an application to uplist onto the Nasdaq Capital Markets on August 27th 2020, and are still currently pending approval as it seems to be a very complicated and tedious task jumping all the way from OTC Pink Sheets to Nasdaq. Us GMGI long shareholders have seen many tasks from the company performed over the past 5+ months that come out in 8K filings, such as amending financial reports to Nasdaq formatting, and even creating a audit committee to meet qualifications just as of last week (01-26-21). As for now Golden Matrix is still a hidden gem as much of Wall Street doesn't know about GMGI or can't trade GMGI due to many buying restrictions. I think soon this will change and no longer be hidden with the arrival of up list.
Playtech and Golden Matrix Deals
Playtech and Golden Matrix went began a collaboration agreement around the end of November 2020 that is set to kickoff sometime this month (February). You can find this easily under recent GMGI news right on the company website. What the deal consists of is beneficial to both of them, as Golden Matrix newly designed and built a Esports betting app, Peer2P Betting Games, and a new Artificial Intelligence System (AI-X). Golden Matrix is letting Playtech PTEC.L use and distribute these applications and software exclusively to all of their new and future customers. Playtech is a market leader when it comes to gaming software and technology. Playtech granted non exclusive rights to distribute their most popular games including live dealer games, slots, table games, bingo, and poker to Golden Matrix's 450+ current operators throughout their APAC Region territories. This deal will be very beneficial for Golden Matrix as their foot print will reach the U.S. and European territories through Playtech, who is all over the world, and some states in the U.S. including very popular New Jersey. I expect we may see a significant increase in the top and bottom line growth for Golden Matrix through this significant collaboration deal.
Amelco Sports Betting Distribution Deal
One more recent larger deal was made with Amelco who's out of England U.K. and basically it gives Golden Matrix distribution rights of their premium sports betting software platform where they will offer it throughout their territories in the APAC Region to their 450+ Operators and future ones as well. I think this is a major deal because they will now become a stronger company by providing both Igaming and Sports Betting software vs just having igaming alone. I think this will not only attract more usage from the current 457+ operators and 3.9M end users, but will also have more future operators wanting to do new business with Golden Matrix being a dual distributor of both Igaming and Sports Betting. More customers equals more revenues, which is what we all want to see from any good growing company.
GMGI Obtained a European Gaming License
Golden Matrix recently acquired a Alderney Gaming License in which their CEO Brian Goodman sold to the company though another privately owned company that was holding this license. He sold this license at cost to Golden Matrix. From my understanding there's many benefits to owning this license, and it's not easy to obtain. Playtech their newly partner also holds this same gaming license, along with many other big name casinos. It seems as if GMGI will be expanding from just the APAC Region alone, and now into the European Region as well. Us shareholders didn't receive a lot info on the exact game plan, but it sounds like some expansion into the European Region. I'm looking forward to hearing more about their game plan hopefully in the near future. Europe is the largest gambling market in the whole world, and right under it is the Asia Pacific Region. Let's see what this European Alderney Gaming License has in store for us in the near future.
$5 Million Equity Investment
Just last week Golden Matrix announced they received a $5M equity investment from a strategic Swedish based gaming investor Knutsson Holdings AB. They purchased one million units which consists of 1M restricted shares at $5.00 USD each, and a warrant with a exercise price of $6.00 a share. They only can exercise the warrants once the GMGI share price exceeds $10 a share for a minimum of 10 consecutive trading days. This was all announced when we were trading around $5.50 a share and will only only dilute the outstanding share count from 21.7M shares to 22.7M shares (4.4%) which is minor. This deal brought me that much more confidence in GMGI, because not only did this investment firm valuate the company currently over $5 a share, but they know its worth more as they have been around the block dealing with gaming companies since 1963 (50+ years). They are also the largest shareholder of popular company NETENT who was recently acquired by Evolution Gaming, and are invested in many other gaming companies. Check them out. This deal puts GMGI outstanding shares to 22.7M with a super low share float that's under 12M shares and a low market cap around $116M USD while currently trading in the low $5 a share price range. Ask yourself this one question, if Knutsson Holdings doesn't even get to purchase their other 1M shares for $6M until the price exceeds $10 a share, don't you think they have good confidence GMGI will surpass this price in the near future? I very well believe so, as they have solid growth, and many new business deals into play for this Quarter (Q1) and beyond.
Possible Acquisitions On The Horizon
I personally have very high expectations for Golden Matrix this year including a up list approval onto the Nasdaq Capital Markets Exchange, major new revenue growth from the partnerships mentioned earlier, and of course building their core business stronger then ever. Also if you checkout all the last dozen press releases from the company, the CEO has mentioned several soon to be announced partnerships and possible synergistic acquisitions many times. Now with Golden Matrix sitting on a pile of cash on hand ($10M+) and staying profitable for the past nine consecutive quarters and counting, they could be in a great position to acquire something beneficial for the companies overall top and bottom line growth. I'm keeping my eyes peeled open short term to see what they do on their next move with $10M+ cash, no debt, and being cashflow positive, which is a rarity in this sector as most are bleeding millions of dollars in losses quarter after quarter! I believe with the current $116M Market Cap, 22.7M Outstanding shares, Low <12M share float and the anticipated future growth, this share price around $5.00 is undervalued and a true bargain BUY.
My Position
I hold a long position of GMGI here, and plan to continue holding for the next 3-5 years as the online gambling industry is expected to grow exponentially for quite some time with more and more legalization throughout the U.S. and many other locations. Online gambling will only continue to grow larger and larger yearly. Do some DD on GMGI and you may become a long shareholder like myself.
Note: All of the info provided above including financials can be found on the Golden Matrix website in the investors section.
WWW. GOLDENMATRIX .COM
submitted by Altruistic-Sun-1482 to WallStreetbetsELITE [link] [comments]

40th anniversary of deadly MGM Grand fire.

On November 21, 1980 - the original MGM Grand (now Bally's) hotel casino was the scene of a terrible fire calamity that killed 85 people. The early morning fire was caused by an electrical ground fault inside a wall-mounted electrical receptacle for a cake display case in a ground floor deli.
The fire could have been brought under control by sprinklers if the hotel had installed them as had been recommended during construction. But they did not due to the additional $192,000 cost and the rationale that the casino floor would be occupied around the clock and any fire would be quickly observed and dealt with by security using fire extinguishers and hoses. Other short sighted design decisions, such as having locking doors on emergency stairwells, faulty smoke dampers in the air conditioning system and gaps in the elevator shafts allowed deadly smoke to rise through the hotel tower and kill scores of guests in their rooms, hallways and stairwells.
It was a grim tragedy for Las Vegas. Other casinos and citizens acted generously to offer whatever help and aid to hotel guests who survived the calamity. The lessons learned from this disaster prompted Nevada legislators to enact what are considered the most stringent fire code regulations for hotels in the country.
Wikipedia article: https://en.m.wikipedia.org/wiki/MGM_Grand_fire
Feature article in Review-Journal today: https://www.reviewjournal.com/local/the-strip/hell-on-earth-40-years-ago-a-historic-fire-at-the-mgm-grand-2181965/
National Fire Protection Association investigative report on MGM Grand Fire: https://www.nfpa.org/-/media/Files/News-and-Research/Resources/Fire-Investigations/FIMGMGRAND.pdf
submitted by nexuscard to vegas [link] [comments]

Planning a November trip, Questions.

ok , I promise not your standard " will this be open?" questions. We're still under Corona Rules, this is known, and literally everything is up in the air in Vegas in regards to what will be available.
​
So, I'm turning 50 this year. As such, my wife and I who pre pandemic were fairly regular Visitors 1-2 times a year for several years running have been staying home, with the exception of one pre craziness trip last June. Realizing afterwards that particular trip was a bad decision, we decided to hold off until Nov of this year for my 50th. We invited a few couples as well, thinking that we would be able to make a group trip of folks, hopefully in a much better corona managed Vegas by then. As it stands we have 6 folks, 3 couples definite, with 3-6 other folks holding off until we see how the virus restrictions are doing in NV. Obviously, we want to start some light planning around hotels, exploring what is needed for group rates if possible, and some other options. Our group is planning 4 nights, 5 days and my wife and I usually stay at the Venetian, but we are open to other upscale venues ( Aria, Cosmo, Wynn ) for the group depending on rates, etc ( We are not opposed to spending money for what is likely our only Trip anywhere in '21, but not all of our friends are financially in the same position we are).
With all that said, whats our best path forward? Do we need to try and find a host to help us, and if so, whats the best way of doing so, or is our group too small to even bother with that route? Who would we check with in regards to getting a block of rooms at some of these hotels? As for interests, We are your general type Vegas visitors, We gamble a little (blackjack mostly ) , Like to run the speakeasies ( Mob Museum and 1923lv @ Mandalay are some fun places we like) and some of the signature bars at the casinos ( Elektra/ The Dorsey At Venetian, Vanderpump At Caesars, Lily at Bellagio, Whiskey Down At MGM, etc) not too much into the Nightclubs ( I'm late 40's people, I'm not the Creepy old dude at the club type). And real talk, we want to make this not only a birthday trip to remember for me, but a Trip to remember for our Friends, some of whom have never been to Vegas before, so they don't know what it used to be like, or what they are missing from the Pre COVID days.
I'm open to any and all suggestions and advice, and yes, I am fully aware that this all may be a moot point even in November with the COVID unknown still lingering. If it isn't safe, we'll cancel in a heartbeat, but it isn't even October yet, so save the "cancel now and stay home" comment trolls.
submitted by AmpedupFit to vegas [link] [comments]

$12k in Wynn Puts (Dec/Jan Expiry)

$12k in Wynn Puts (Dec/Jan Expiry)
Edit 2 (Nov 27): Of course, because this market is all-knowing and completely rational, the stock keeps going up despite the bad news. Currently getting clobbered on my positions (around -50%) but still holding. Edit 1 (Nov 22): It looks like the governor is announcing new restrictions, the most notable of which that casinos will be reduced from 50% to 25% capacity. We will see if the casino stocks react accordingly.
************************************************************
For the 1 or 2 humans left who aren't trading NIO, PLTR, and soon CIIC, this is something different at least. Hope you enjoy it.

TL;DR and Positions:

This is a reasonably short-term bet that WYNN, which rose over 25% on vaccine news, is overextended and will pull back.
  • Dec 18 ’20 $75p and 85p
  • Jan 15 ’21 $80p and $90p
https://preview.redd.it/vt2w0cvda6061.jpg?width=1242&format=pjpg&auto=webp&s=f13f6b240e8e72e55cce658080a23f21552763c9

Thesis, for anyone interested:

This is partially a play on vaccine exuberance (targeting cyclical/reopening names), and partially a play on Wynn specifically
Vaccine Exuberance
  • As everyone knows, Pfizer and Moderna have recently reported stellar efficacy data on their COVID-19 vaccines. Last week’s Pfizer vaccine pump, in particular, sent cyclical names (i.e. cruise lines, airlines, casinos, AMC, etc.) soaring.
  • IMO, these names went too far ahead of themselves. It’s true that the strong data is a triumph for science and signals that there’s a light at the end of the COVID-19 tunnel. However, once the euphoria dissipates, we have to confront a basic truth-: the vaccine isn’t going to be widely available until sometime in 2Q 2021, possibly later.
  • For context, PFE and MRNA will apply for Emergency Use Authorization (EUA), with an FDA decision expected sometime in December. But even if the FDA issues EUA, the limited doses of vaccines that are currently available will only be provided to very select populations, e.g. high-risk populations. Full approval (not EUA) for the vaccines are expected in 1Q 2021, meaning most people will not be getting vaxxed until next year.
  • This means that in the short term, nothing about the cyclical names has fundamentally changed. Their businesses will continue to struggle, especially with the looming threat of additional stay-at-home orders. Further, those who have watched the market this year know that every subsequent vaccine news generally provides diminishing pumps (unless it's something new altogether, like the PfizeModerna efficacy data). I believe that the recent pump in the cyclicals was built on euphoria that will fade in the coming weeks.
Wynn
  • Disclaimer: if you think the thesis above makes sense, you might also consider playing names like CCL and AMC. I personally chose WYNN for a couple of reasons-:
  • The stock has been hovering in the $70-75 range for a while (since April 8, it has closed below $70 only thrice). I consider the recent runup to $100+ way too much given that no material news was released by the company specifically.
  • Nevada is having a hard time with covid right now. On Nov 10 Governor Sisolak advised citizens to stay at home for 2 weeks, giving them the ultimatum that if things don’t get better, “I will be forced to take action in 14 days,” he said, although he mentioned that “I don’t want to take enforcement. I want to lift restrictions.”
  • Yet the usual facts abound: cases are at an all time high and continue to grow, while hospitalizations are rising as well. I expect that this trend continues post Thanksgiving.
  • Clearly shutdowns and business restrictions are unpopular, but the latest news is that Sisolak might take some sort of action soon. Any talk (or action, of course) of shutting casinos down may send Wynn spiraling back down.
  • (Sidenote: Puts on LVS, CZR, MGM seem viable too, but Wynn has run up the most)
Several Counterarguments/Things That Can Derail This Trade
  • It is unclear that casinos will close down again. From the same article: “in responding to other questions about potentially keeping casinos open, the governor said he doesn’t want to “shut down all of the economy if we can avoid it.”
  • In fact, Sisolak has encouraged tourists to continue coming to Nevada. There is pressure to keep businesses open, so he may not bend the knee for shutdowns.
  • Additional good vaccine news (particularly an EUA approval) might send all the cyclical names rocketing up again, and Wynn would be no exception.
  • J Pow turns on the money printer and massacres all puts.
Positions
  • I’m thinking that a stream of bad news will overshadow the good news in the next few weeks. That said, December puts are a little risky because the timing will probably coincide with further good vaccine news, so slightly smaller positions here. The bulk of the position is in Jan puts as you can tell.
  • For strikes, I just chose a few that make sense to me, along with a speculative $75p. I reinforce once again, with some exceptions, Wynn does not stay below $70 for long, so if the stock does drop bigly, I will be cashing out before it teases low $70's.
Let me know what y'all think
submitted by OogdayAyday to wallstreetbets [link] [comments]

DeFi: Why There is no Need to be Hasty

I have seen many posts across the Cardano community about how ETH’s DeFi rush will give ETH the first movers advantage in a winner take all DeFi ecosystem.
First, I know how anxious many of you feel. We see another project with a fervor of activity while IOG is still working behind semi-closed doors on Goguen. We all want Cardano to live up to its potential and its scary when it looks like another platform is racing ahead.
However, let us take some time to think of this from first principles and ask, “Why is DeFi a winner take all situation?” If you look at the tech ecosystem, platforms that are labeled “Winner take all” platforms are closed systems. Not every business that calls itself a platform, online or not, is not in a winner take all market. That said, winner take all really is a misnomer, even the strongest closed network tech companies with the strongest of feedback loops have competition.
  1. Facebook has TikTok and Snapchat
  2. Amazon has Wayfair while Target and Walmart online are catching up extremely fast
  3. Netflix has Hulu/Disney Plus, HBO Max, Apple TV+, Prime Video and CrunchyRoll
  4. Spotify has Apple Music, Pandora, iHeartRadio, Youtube Music, Amazon Music, Google Music
In the finance space things generally are not winner take all because the system is interoperable (imagine what would happen to Bank of America tomorrow if it announced that it is no longer accepting deposits from other banks?). As an example, I can ACH money from Citibank to UBS, buy stock there, then transfer it with ACATS to Interactive Brokers.
Looking at the financial markets, there are so many different institutions, many of them extremely large.
  1. Banks: Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America, Wells Fargo, Citibank, and Bank of New York Mellon are all massive institutions; and those are just the large bulge brackets, there are a ton more regional banks and smaller institutions),
  2. Brokerage houses: Charles Schwab, Interactive Brokers, Robinhood, Fidelity, TD Ameritrade
  3. Asset Managers: BlackRock, State Street, Vanguard, PIMCO, Wellington Asset Management and JP Morgan Asset Management, all have more than $1 Trillion dollars in AUM
  4. Insurance Companies: MetLife, State Farm, Berkshire Hathaway, Progressive, Allstate, Liberty Mutual, Travelers, Chubb, USAA all write $10s of billions of dollars of premium a year
  5. Hedge Funds: Bridgewater, Citadel, AQR, Renaissance Technologies, DE Shaw, Elliot Management, Bracebridge, Panagora Asset Management all have $10s or $100+ of billions under management, and again those are just the big guys)
Seriously, just go look up how large these companies are. Those are the guys we are going for, not some fly-by-night DeFi script kiddy who lost $200mm dollars because they forgot to call the correct method in their smart contract.
Oh, and that list I included, those are only the large firms. I did not even touch upon the myriad of boutique and regional firms. I also haven't even gotten to any international firms yet, or mentioned other entities like the DTCC, prop-trading firms, family offices, private banks or sovereign wealth funds like GIC/Temasek and CIC with over a trillion dollars under management.
Also keep in mind that while DeFi might feel full of vitality and growth, what are people in the market really doing? What real world activity are people borrowing do to on crypto platforms? People are not borrowing on DeFi to start businesses, build homes or pay for school. They are borrowing to fund margin loans so they can leverage and maximize their yield. It is just a moderately sized casino*** with a cardboard sign duct-taped over that reads "Bank." The current total value locked in De-Fi is $9bn at most which is tiny. I have been at large asset management firms with single accounts with more money than that. Even if De-FI on ETH miraculously grows by 700x without any blowups, it will still be smaller than the AUM of the largest asset management firm by over $100bn.
Lastly, I think people underestimate the issues ETH has ahead of it. Read this medium post and this academic paper about priority gas auctions, DeX front running and transaction ordering dependence vulnerabilities [0, 1] and how this not only impacts users but affects the security properties of the consensus layer. Additionally, ETH 2.0 does little to fix the fee issue, for that they are working on EIP-1559 which is still contentious and will be hard to ship without on chain governance, which also isn't included in ETH 2.0 either. Even further still, ETH will need to do a difficult hard fork to implement these changes, while Cardano has HFC events which are operationally less complex and easier to execute. There are still so many kinks to work out. ETH isn’t the iPhone moment, ETH is pretty much the 10lb Motorola voice only cellphone (more like a blunt weapon) that costs the same as a pedigreed show dog.
TLDR; The market is still in its absolute infancy. The space we all can disrupt is massive. Fighting over the current market is like fighting over a parking space when you have the entire continental United States to explore. While the project can’t stagnate or rest on its laurels (which I don’t think is happening), it can take its time to be methodical to ensure that when the world financial markets are onboarded onto the blockchain that Cardano has the research, codebase, infrastructure and community to step up to the challenge and excel.
*** Las Vegas Sands and MGM Resorts each made more money in the last 12 months--even with COVID--than the TVL of DeFi assets on ETH. Yet, the icing on the cake is that the Macau gambling market is 4x the size of Vegas so even the gambling industry is much bigger than DeFi right now.
[0] https://medium.com/@danrobinson/ethereum-is-a-dark-forest-ecc5f0505dff
[1] https://arxiv.org/pdf/1904.05234.pdf (its long but all you need is the first 3-ish pages)
submitted by factorNeutral to cardano [link] [comments]

DKNG - Fundamental DD Part II - DKNG

Not Financial Advice (NFA)
Warning: Wall of Text. If you hate reading just skim through the bolded/italicized
Ever since I publicized my findings on DKNG, the stock has underperformed & probably has fucked a lot of people here, especially given the overly bullish stance back in June. Unless you took my advice & got into Puts then, congrats, welcome to tendie town. For the ADHD retards, here’s what the next wall of text is going to summarize: I believe at the current price of ~$30, the stock is oversold.
A tech-focused, high-growth Company that has made sports betting easy to understand with an aesthetically pleasing interface similar to how Robinhood has neatly laid out stock market gimmicks so even high-schoolers can make sense of it I believe, is underpriced at these levels.
Let’s get into some details as to why the stock has underperformed:
First off, the news slate revolving sports with the rumored delay/cancellation of the MLB season & the NFL watching from the sidelines is in my view, just a part of why the stock has underperformed. We’ll revisit this later in this post, but I want to focus on the drivers of the stock’s recent underperformance, & why these factors are now in the rearview mirror.
Part I – The Past Has Passed – SPAC-related Equity Dilution
History lesson first: DKNG went public via a SPAC merger, which has exploded in popularity recently. Anyone serious about analyzing stocks going forward needs to do their homework on this, Google is your friend.
A feature of most SPAC merger to public listings that creates a headwind to near-term share prices are embedded equity dilution events, usually in the form of earn-outs (stock bonuses to execs, the SPAC sponsor) & conversion of Warrants.
On 5/24, the earn-outs were triggered, adding 6m shares to the share count.
On 6/26, 16.3m warrants converted to DKNG, netting them ~$188m of cash.
Stepping back a little, in addition to the above, on 6/18 DKNG launched a follow-on equity offering of 16M shares @ $40/Share [1], receiving $621M in proceeds.
The last part is tricky to understand from a dilution perspective. To simplify, historically it’s almost a coin toss whether a Company’s shares outperform on the onset of an equity offering. While issuing shares does dilute the existing shareholder base, it theoretically shouldn’t, if the proceeds from the offering are earmarked for investments/projects that yield outsized returns. This is the reality for the long term, theory for the short-term. For the short-term, the ‘reality’ isn’t that the proceeds will be used for investments/projects that yield outsized returns, it is more about how convincing management is to investors that the investments they intend to pursue with the proceeds will outweigh the dilutive effects of issuing incremental shares. That’s a mouthful, but hopefully you get what I’m trying to convey.
All of this stuff put together – the Company has increased its share count by ~39M, but now has a whopping ~$1.4Bn of cash [2]. More on this in the next section.
Part II – MLB News Should Not Fucking Matter & DKNG Is Positioned As the Leading Online/Mobile Sports Platform
DKNG should not be so tied to MLB news or any of this shit as the ongoing success of the NBA/NHL season + Soccer in Europe has effectively created a blueprint on how to regulate player behavior so that they maintain professionalism amidst the pandemic. I’m going out on a whim here, but I truly think the MLB threatening a cancellation of the season is pure posturing to get these fuckers to behave appropriately. Maybe a ‘bubble’ is what it takes to get these players to focus on their jobs instead of going out & contracting COVID, but I argue that isn’t necessarily required given Soccer in Europe. So there’s already a proven path here without the need for a bubble in Soccer, so MLB/NFL should be fine, and execs need to study how they got it done in Europe. Okay, back to some facts.
Anecdotally, I’ve kept in touch with a handful of sports bookies from California to New York & even internationally about what they’re seeing – all of them say that since the NBA season started on 7/30 & since Soccer (especially the Premier League) resumed in June, along with other leagues like La Liga & Serie A, they’ve seen massive increases in betting.
These numbers are also showing up in the official data [3]:
REMEMBER: This is for June only! No NBA, No NHL, No MLB, just Soccer, Golf, NASCAR & UFC.
The data clearly shows that there was a ton of pent-up sports betting demand, which leads one Wall St. analyst to think that betting on the NBA/NHL could ABSORB the MLB’s sports betting handle (handle = total $ size of sports bet) [5]. Remember, the MLB season is still ongoing, with games being played. The entire focus is on the Miami Marlins & St. Louis Cardinals. Fucking retards.
Additionally, I want to remind everyone that DraftKings.com is the #1 Fantasy sports website in the U.S. [6]. Also, since April 2020 site visitations are up +86% [7] & Google Search Trends for “Draft Kings” is up ~3x compared to PRE-COVID levels [8]. What does this mean? They are piquing more people’s curiosity than prior to COVID/ongoing slate of sports.
This is important because remember that ~$1.4Bn chest full of cash I mentioned DKNG had assembled earlier? Well, that money is being put to work & results are already coming in, which is exactly what DKNG intended to do with it.
Part III – Legalization of Sports Betting in the U.S.
I could write a fucking bible on this topic alone, but for now we’ll stick to some basics. Due to COVID, it’s easy to understand that each State’s financial situation is clearly in shit. Because of this, you better believe that these guys are going to start taking a hard look at how they can extract additional tax revenues, & what’s one of the easiest ways to do this? Legalization & taxation of gambling.
The big players: CA, TX, FL & NY. First, CA pushing its legislation out to 2023 was fucked up, but here’s a twist I want to add to this: Anything that has to do with gambling in CA you better believe is lobbied against by not just the Tribal casino owners in CA, but by the deep pockets of Las Vegas money. Similar thing can be said for FL, but let’s take a look at some actions by LV/nationwide gambling companies that are starting to align financial incentives with guys like DKNG.
So it’s safe to say going forward, nationwide legalization of sports betting will reap rewards for everyone involved, & no longer be something LV money is completely focused on safeguarding.
Let’s also not forget that DKNG didn’t become the Company they are today because of their fancy app, but because their management team has a HISTORY of navigating the U.S.’s legal framework to get what they want out of it.
These guys are at the cutting edge of creating legal frameworks to successfully launch their products & now with more of their ‘competitors’ financially aligned with them, combined with financial deterioration of State budgets, we should see an overweighting of good news vs. bad on the legal front.
Final Part – Share Price Targets
Under-fucking priced at anything below $42.50
Near-term catalysts:
8/14: DKNG files 2Q’20 results, might be shitty, but you can bet that the Earnings Call is going to contain rhetoric on how massive the uptick in sports betting has been since late June/July.
Sometime from now until November: NY releases ‘study’ by Spectrum Gaming on online/mobile sports betting.
8/20 – 9/7: PGA Championship for FedEx Cup Title
9/5 – KY Derby
9/10: NFL KickOff Game
9/17: PGA U.S. Open Start Date
Month of October: NBA/NHL Playoffs
10/1: Estimated launch of online sports betting in TN
11/1: Estimated launch of online sports betting in VA
[1] https://draftkings.gcs-web.com/news-releases/news-release-details/draftkings-announces-proposed-public-offering-class-common-stock
[2] Wall St. Research – DKNG on 6/29/20
[3] https://www.legalsportsreport.com/sports-betting/revenue/
[4] https://gaming.nv.gov/modules/showdocument.aspx?documentid=16984; Note: Nevada did not break out April/May figures but from the Revenue difference of 3 month ended June 30 of 4,950 vs. month of June of 2,297 for a total difference of 2,653 spread evenly over April/May for a base case April estimate of 1,327.
[5] Wall St. Research - 7/27/20
[6] https://www.similarweb.com/top-websites/category/sports/fantasy-sports/
[7] https://www.similarweb.com/website/draftkings.com/#overview
[8] https://trends.google.com/trends/explore?geo=US&q=draft%20kings Feb 23-29, 2020 vs. Current Aug 2 – Aug 8, 2020
[9] https://www.legalsportsreport.com/42314/draftkings-illinois-sports-betting-market-access/
submitted by IAMB4TMAN to wallstreetbets [link] [comments]

DKNG - Fundamental DD Inside - DKNG

This is an example of fundamental DD that takes place at ‘smart’ money institutions based on my professional experience in IBD, Private Equity & most recently at a HF (mods can message me for proof). Not thoroughly fleshed out b/c you autists have limited attention spans, but a summary. Figured I’d take the time to give back to this community that has provided many lolz, & should be a good measuring stick when evaluating other forms of fundamental DD posted here.
NFA.
DKNG - DraftKings, Inc.: vertically integrated US mobile betting operator that also provides retail sports betting & back-end betting solutions through SBTech. Think of SBTech as the tech ‘market-maker’ for traditional sports betting, they do all the funny math to set the betting odds & seem to be working on back-end solutions for DKNG Casino
The Big Picture
Only ~2% of the ~$90Bn gambling revenues were placed online which is the lowest in the world where betting online is legal. For example, in other countries online gaming activity represents ~6% - ~52% of total gambling revenues, with ~12% being the average.
Wall Street expects online gaming revenue to be $20Bn-$40Bn within the next 10 years. For this to be achieved, the online gambling market will have to achieve a ~30% penetration rate on total country gaming revenues. There is an expectation that this is could be easily achievable given penetration trends overseas - see page 11 of this: https://s1.rationalcdn.com/vendors/stars-group/documents/presentations/TSG-Investor-Day_March-27-2019.pdf
Other catalysts include increasing adaptation of sports betting in more states. States that have both legal sports betting + online sports betting permitted: NV, NJ, WV, PA, IA. Sports betting permitted but no online: DE, MS, RI, MO, AR. Prior to COVID there was ongoing discussions across many States, especially ones with growing deficits to explore how permitting sports betting could create a fresh avenue of tax dollars. Post COVID there is an expectation that these discussions will be given extra focus as many States will be hungry for incremental tax dollars. Important to note that currently 43/50 States allow DFS, but given the small share DFS has on total Gaming Revenues, it increasingly looks like DKNG is banking on traditional sports betting for a variety of reasons, more later. There are entire articles on Google arguing this catalyst so I’ll end this here.
Digging Deeper
DKNG’s main offerings are Daily Fantasy Sports (“DFS”) products & traditional sports book products to its clients. Long story short, a metric to look for in my opinion (that is curiously not reported by management or remarked on) is the hold % in traditional gaming sector parlance or the ‘rake’ & compare it to the ‘traditional’ gaming products like sports betting & Blackjack.
For DFS: DKNG takes ~15% of the prize pool (note: used to be ~6-11% [2]). Curiously, their main competitor FanDuel also has moved up to a ~15% rake recently. Google searches show the smaller competitors have a rake in the ~13% range.
This ‘rake’ has grown ~2x in 6 years, but it has been a delicate move on behalf of management. Why? B/c the more ‘sophisticated’ DFS players (equal to autistic day traders on Robinhood) have noted this increase & based on some Googling, some have moved down market to the smaller players. As a side note, many live casino games have their rules altered to grow the Hold %. For example, Blackjack games with 6:5 payouts on 21 have materially higher Hold % than the traditional BJ rules that pay out 3:2. Given the findings so far, DKNG may not have much room to materially increase its hold % in DFS games in the near-term from current of 15%. More on this later.
Now why the fuck is this important? This is important b/c the typical sports book (ex-Parlays) have a ~5% hold %/rake. Parlays have up to a ~30% hold (which is why it’s commonly known as the sucker’s bet), & just for reference, the average Blackjack table clocks in 14.5%. What this means: Every dollar put into these games, the “House” or DKNG, will take 15% of your money for DFS games, for sports bets they will be pocketing ~5%, up to ~30% if you’re into parlays, & we’ll just use the standard 14.5% BJ hold for the DraftKings Casino platform.
So why the acquisition of SBTech & a foray into the traditional sports gambling market? As you can see previously, the illegal sports betting market is >30x the size of the current daily fantasy sports market. So it’s clear that the DFS providers including DKNG are foraying into the space to capture this user base & hopefully convert them into games that have a higher hold %, such as DFS/DKNG Casino.
As of May 2020, DKNG has achieved a 30% penetration rate on its ~4mm ‘monetized’ DFS clientele to its Online Sports Book (OSB), from the OSB+DFS clientele, DKNG has converted 50% into its DraftKings Casino platform.
Including non-monetized users, user base totals at 12mm. Based on these unit economics: every 1mm of additional users -> 333k monetized users for DFS -> 100k users for OSB -> 50k users for DraftKings Casino.
Some Numbers – Italicized/Bolded the important
Numbers that represent Risks to Long Thesis
Things to look for when going Long
- Progress of additional States legalizing sports betting – specifically, States with DFS already legalized
- Cost structure evolving to a more fixed mix vs. the mostly variable mix currently as this will be the forward figure that determines profitability
- Increasing User Base (Curr.: 12mm) -> Monetized Base (Curr.: 4mm) -> MUP (1Q’20: 0.7mm)
Share Price Target
Given the cost structure of the company, I’m going to base the price targets around Enterprise Value / Revenues (driven by MUPs & ARPUs).
Bear Case MUP: 5mm -> $20.32 - $45.73
Base Case MUP: 5.5mm -> $22.27 - $50.10
Bull Case MUP: 6mm -> $24.21 - $54.47
These MUPs imply a monetized customer base of 28mm – 33mm. At the high-end, this implies that DKNG monetized customer base will equal MGM’s current total user base.
At yesterday’s close of $43.70, DKNG is trading at 3.5x – 4.5x forward Revenues on an expected >5,000 MUPs.
Share Price drivers / considerations:
- Continued multiple expansion
- MUP Growth exceeding beyond targets
Management Team
Jason Robins, 39 – Co-Founder & CEO. Duke BA, started DraftKings from day 1 in 2011. The 2 other buddies he started the Company with are still at DKNG. Dude navigated the Company through the scandal that rocked them in ’15 & ’16, and was the trailblazer in getting DFS labeled as a non-gambling product that enabled it to open in States without a gaming designation. This shit is the stuff that gets people in history books. His accomplishments make him seem like a very competent guy. Has 3 kids now, and only ~3% economic ownership in DKNG but has 90% of the voting power through his Class B share ownership. Also he actively participates in venture investments, sitting on 10 boards.
His comp plan performance bonus target is pretty murky, but main drivers are EPS growth, revenue growth, then a bunch of margin & return metrics, along with share price returns. Overall, very open-ended & it’s safe to say as long as shit doesn’t hit the fan, he will be eligible for his max payouts year over year. I’m assuming the lawyers tried to encompass everything possible for maximum flexibility to justify him earning his max comp as long as DKNG is still around.
Since he’s got voting control of 90%, I’ll end the specific-person overview here, but want to note that they have a very bloated C-suite. 12 folks at DKNG, 8 folks at SBTech, all with C-suite designations. Whereas their main competitor FanDuel, has 3 guys with a C-suite designations & 1 EVP, but is a sub under a larger ParentCo that has its own management team of ~5 guys.
Looking through glassdoor you can see the biggest complaint among employees giving bad reviews is based on management, all of the specific issues they point out IMO are a result of a top-heavy company. Seems like a good starting point to optimize their cost structure, but given Robins' history of sticking this entire thing through with his co-founders since '11 stuff like this doesn't seem to be a part of his playbook. They’re a public company now though, so it’s going to be interesting to see going forward.
TL;DR:
If I were to initiate a position in DKNG, the stock would have to fall to the $35-$37 range for me to be a buyer of the stock, and based on this rough intro analysis I'll be considering Put options if it breaches $50. I would not touch Calls at this level.
​
[1] Wall Street Research - 6/27/19
[2] https://rotogrinders.com/articles/bang-for-your-buck-a-look-at-dfs-industry-rake-153302
[3] https://draftkings.gcs-web.com/static-files/8f3a5c5a-7228-45bf-aab2-63604111c48d
[4] Wall Street Research - 5/19/20
[5]https://www.gamasutra.com/view/news/223071/Dont_monetize_like_League_of_Legends_consultant_says.php
[6] https://rotogrinders.com/threads/how-many-people-actually-play-dfs-regularly-252044
submitted by IAMB4TMAN to wallstreetbets [link] [comments]

7/26 Phillys Weekly watchlist

7/26 WEEKLY WATCHLIST
[P.S. Only enter positions you feel the most comfortable with. Your money is your soldier only send him into the battle you think you'll win. Some of these I have taken positions. Some I am looking to take positions. I've posted how many shares I own of what multiple times ]
PENNIES [💎-Long time gold][⁉️-Could go both ways][Rocket emoji] - I think this is gonna shoot up][🔥-This imo is gonna be a fire stock to make money off of just dont get dumped on][⚠️-Already ran a bit be careful
💸PENNYS💸
$CHFS - Support at $0.62 & $0.53. Covid play. Dialysis equipment short on supply. Earning August 10th. Most shareholders at profits which is scary.⚠️[Rocket emoji]
$BOXL - Online schools arn't all going to be using Zoom though for their school programs. Already got 1 contract. More schools closing. RSI looking better now on the daily chart. Could see a run up especially with PR. I expect some type of PR this week.🔥⚠️[Rocket emoji]
$LPCN - FDA Approval Aug 28th 💎
$YVR - Already ran a slight amount AH. I can forsee this hitting almost $3 honestly. They design Videogames CGI cinamatics such as SWTOR, Mortal combat, Battlefront etc. Ran than dumped all AH still watching this for a play🔥[Rocket emoji]
$CHEK - 70% of shareholders at a lose. Mad support at $0.53 area. above $0.61 I'd be super bullish for a nice run.🔥[Rocket emoji]
$BIOC - Insider buys 7/14 of 20k shares. Bullish uptrend. Decent support at $0.68, $0.63 $0.60. Resistance at $0.76 than $0.80. July 29th VOTE ON RESPLIT!! DEC 7th until for compliance. So decent amount of time still. 6/25 Golden Triangle crossed! I'm bullish AF $0.72breaks $0.80 Maybe $1 [Chart if you wanna see just ask] 🔥[Rocket emoji]
$MARA - Decent support at $0.90. Massive support at the $0.80 range. Looking for a bitcoin sympothy run🔥[Rocket emoji]
$SXTC - 90% Shareholders breakeven or at loss. Mass support at $0.40-$0.44. I'd be bullish at $0.46. Low float🔥[Rocket emoji]
$GNUS - IOS app just released. This ticker tends to overreact to news than dump off. I've been just selling covered calls and rolling my money over essesstially making my shares free💎
$ENZ- Has FDA approval noone else has this test. monopoly. Schools testing. State colleges already buying them.REVENUE UP 121% IN 2019. Medium debt.
$RRD - Conference coming up. This has a trend of running up to around $2 around conference times than DUMPING.💎[Rocket emoji]
$MYT - 95% Shareholders at loss or breakeven. First US store just opened. Trial opening July 15th. Fully opened in August. The chart is bearish. Support is $0.47-$0.49, $0.41. 2Hou4 hou1D screams oversold. MACD 4 Hour setting up. 1 hr MACD already setup 🔥[Rocket emoji]
$IDEX - Hold until earnings week where this rockets off to the motherland💎
$DLPN - Usually swing this from $0.88-$0.93 back to $1 range. Only scare thing is they might split due to compliance💎[Rocket emoji]
💰HONORABLE MENTIONS💰 : $VERB - [Offering at $1.10 good around that price]$NAK $UAVS $DMPI $GAU $PZG
💰Non-Pennys💰
$MGM - Anything under $18 is a steal. Anything around $16 is GOLD. MGM is 1/3 casinos with liscensing in Japan. By 2030 this hsould be a $40-$45 ticker💎
$CZR aka $ERI - COME BACK KING! Anything under $40 seems to be 100% safe. $35-$37.50 is my snag it all price. Biggest casino/hotel chain in the WORLD after buying out caesars!!! Should be $70-$100 ticker by 2030-2035💎
$O - MONTHLY dividend. [5% yearly] GREAT LONG term investment. REITS are beat down. Can't see this getting TOO much lower💎
$PETS - Super oversold. Earnings actually were good? Dividend upcoming 7/30. I expect an overcorrection back upwards
$CARS - Bullish above $6.20
$SIRI - Bullish above $5.95. $6+ it runs
$JMIA - Monthly MACD Setup so perfectly for this, Has been running lately but no where near pre-rona levels. Offering at $8.59 BUT its a shelf offering which means they don't have to sell it currently. This could drop down to that or continue its run until the offering block is dropped.
$NFLX - Super oversold. IMO great longterm hold.💎
$LOW - Holding under earnings. This beast just doesn't seem to stop
$CAPR - Support $6.44 $5.67 [free fall if it dumps. 50% shareholders break even or at a loss. Super revenue coming from covid. FDA Approval would bring the market cap from 100m to 1b. [10x increase!]🔥🚀⚠️
$GNCA - July 30th cancer news. About 50% break even or at a loss. Ran hard af already 🔥🚀⚠️
🔮BET AGAINST THE MARKET🔮 SPXS - 3X Inverse of SPY [The overall market] Spy +1% SPXS -3%. Spy -3% SPXS +9%
💚👍 Hope the week is green for everyone and mass money is in your future!👍💚 [Figured I'd throw up a WATCHLIST for the few people who still care ]
submitted by Philly19111 to pennystocks [link] [comments]

Poker Dealers being terminated.

Every poker dealer in Elizabeth, IN, including myself, is being terminated as of 10/1. This leaves me with several questions. I've listed my top 5 below. Feel free to answer and ask you own.
​
  1. Please let me know if you are aware of any other property that is doing this to their poker dealers. i.e. Terminating furloughed dealers as of 10/01.
  2. Caesars/Eldorado must have an agreement signed by 12/31 to sell the Elizabeth property, as well as Evansville and Hammond. There are rumors that Churchill Downs, who has created a faux casino on Poplar Level in Louisville with their Historical Racing machines along with a still under construction 300 million dollar hotel/casino on the Downs property, is interested in purchasing the Elizabeth property. There was also a rumor that MGM is interested in all 3. This would make sense as it would be a good opportunity for them to get into the Indiana/Illinois market, especially since they already have their Indiana sports betting license. Ads are all over about free bets for joining MGM's app. Long story short, I plan on moving if there is no commitment to poker from the new owner of the Elizabeth property. I seriously doubt Churchill Downs would commit, however, do you think MGM would commit to having poker if they purchased the property?
  3. Caesars announced yesterday that they were purchasing William Hill Sports Book. My poker room manager took a job there months ago, as he was already running the sports book at Elizabeth and I assume been offered the job back when this deal was in motion. To what degree does this represent a shift towards sports betting and away from poker for Caesars in Indiana but also in the US as a whole?
  4. Covid has essentially grinded live poker to a halt in much of the country, except for a few rooms here and there in just a handful of states. The airline industry is terminating or furloughing tens of thousands of employees as of 10/1, the same date we are being terminated. As far I as know, none of the 60+ poker dealers/floors/duals in Elizabeth were receiving health benefits since August 1. I am not aware of any cost to the company to keep us furloughed, as opposed to terminating everyone. Is this some sort of valuation tactic for quarter 4 or the end of the year with the IRS? Does X amount of employees equal Y amount of deduction?
  5. This year has been rough for poker dealers and players everywhere. Please let me know your thoughts on the overall future of live poker. What does it look like?
submitted by jooshwah to poker [link] [comments]

History of Clifton Hill Part 5 (Final): What Could Have Been, and What Can Still Be

Thank you to everyone who has followed this series or voted for it's creation. I'm glad you've enjoyed it and I'm always happy to spread the important history of the amusement industry, especially pertaining to the place that inspired me to go into the industry. For parts 1-4 scroll back in this sub or click my profile.
In 1989, Welland Securities, who owned the entire south-west side of the Hill, would develop the final portion of unused land on Clifton Hill. They would become HOCO (Harry Oakes Company) and gain ownership of almost all the attractions on land they leased out. This included Movieland, The Space Spiral Tower and the Cliffside Motel. The only attractions that would continue being leased were Ripley's and Circus World, meaning HOCO not only owned all the land on the South-West side of the hill, they now ran everything between Circus World and Ripley's, as well as the Fudge Factory (in its original spot) and an ice cream stand immediately down the hill from Circus World. They planned to keep everything that was on the hill but build on it.
Movieland was remodeled and the outside was given a more noticeable Egyptian theme to match the lobby. This meant large lion statues and Costello's talking pharaoh. The lobby was remodeled as well. Rather than a cameraman and a director filming Elizabeth Taylor in Cleopatra, they would now be filming Costello's Indiana Jones figure, who lowered up and down on a rope above a fogging pit with a cobra rising out of it. Many of the early talkie-era stars in the hall immediately after the entrance (along with Elizabeth Taylor) were moved to 2 large display cases in the middle of the attraction with multiple figures, instead of each one having their own scene. In their original spot just inside the entrance an intentionally scary scene was created to match the popular Indiana Jones series. Many of the figures Costello had added since he became the museum's artist were slightly frightening, like a lunging alligator or a startling Joker scene with a machine gun sound effect. The museum had been expanded at the end, and a large horror section had been added, with many figures like the mummy being from the same mold as the House of Frankenstein/Castle Dracula mummys. Unlike when it would move to it's current location in 2005, the old location's chicken exit was placed before the horror section rather than the haunted house portion. In fact, there was no haunted house section, many of the figures that would end up in the haunted house section of the new location were simply scattered throughout the museum. Many of the figures in the horror section of the original museum were actually less scary and less animated than the Jurassic park scene or the alligator encountered earlier in the museum. To prevent unsuspecting parents who had no clue what kind of attraction this was dragging their children in and expecting static figures of washed-up movie stars, getting the living daylights scared out of them, then end ending up filing complaints with HOCO's customer service department, an intentionally scary scene was put at the beginning. This let people know what they were walking in to, an experience rather than a museum. Costello designed figures behind plexiglass such as a man upside down in a cocoon thrashing around, a skull that popped up from the floorboards in a scene full of snakes, a man on a bed of spikes that fell towards you, and a scene with spiders on fishing line "jumping" all over a rotting corpse.
The Cliffside Motel was amalgamated into a wing of the Quality Inn, and the driveway into it off the hill was removed as it was no longer necessary because it could be accessed from the Quality Inn parking lot. In the driveway's place was now a large empty space between Circus World and Movieland, with the Space Spiral Tower (with a relatively small footprint) stuck in the middle. HOCO called upon attraction design and layout firm White Hutchison Leisure Learning Group (WHLLG) to design an attraction around the Space Spiral that would use the final undeveloped land on Clifton Hill. And so WHLLG designed Dazzleland Family Fun Centre. Dazzleland was a courtyard of buildings arranged in roughly the same layout as the Great Canadian Midway (for reasons we'll get to later) that sits on the land now. The buildings around the outside of the courtyard were long and narrow, picture a courtyard of carnival game trailers but permanent, appealing buildings. These buildings included a Skee-ball building, a sports game building (basketball games, football toss etc.), a racing game building, a pinball building, a funnel cake shop, and the prize counter. In the back corner, roughly where the XD Theatre now is in the midway, was a larger building: an arcade housing video games and more pinball machines. In the middle of the courtyard was a small carousel, and a small building housing games that dispensed their own prizes (claw machines, prize egg games, etc.) and coin-op kiddie rides.
The Space Spiral was incorporated into Dazzleland, still being accessible directly off the hill. As mentioned in part 3, the tower was exactly where the Fudge Factory now is, as the circular store was once the loading area for the tower. At this time the snack bars beside the tower right on the hill were constructed: a pretzel/hotdog stand and an ice cream stand, both of which are still there. The Wendy's was built on top of Circus World, replacing the mini golf that had formerly been on the attraction's roof. Across the entrance to Dazzleland's courtyard from Wendy's was a Domino's Pizza, roughly where the photo booth just to your right is when entering the Great Canadian Midway now. Between the Space Spiral and the Dominos was a fortune teller machine built right into the wall: "Ask the Brain". The brain still lives on inside Movieland, except now he wants a loonie instead of a quarter. Just up the hill from the Space Spiral, on top of the hot dog and ice cream stand, a small sports bar was built. Very little is known about this sports bar, but obvious remnants of it still exists. The area of Boston Pizza closest to the hill (the back corner near the kitchen, the bar area, and the raised dining area) was the originally the sports bar. It featured a small coin-op bowling lane, arcade games, and food. The stairs in the Midway up to Boston Pizza beside Ghostblasters is the original stairs up from Dazzleland to the sports bar. Additionally, the Boston Pizza entrance closer to the hill (not the one with the big bowling pin, other one) was the main entrance to the sports bar. Little is known about the bar, including it's name. It may not have had one, simply being part of the Dazzleland complex. Many of the areas in Dazzleland didn't have a name, simply having signs heralding "Arcade", "Sports Games", "Skeeball" rather than naming the areas like the "Game Factory", "Sports Zone" or "Strike! Rock 'n Bowl" like in the Midway. For this reason, the bar may have been nameless, simply being part of the Dazzleland complex, but it's unlikely a dining establishment geared at adult nightlife wouldn't have a name.
Because the mini golf on Circus World's roof had been operated by the Cliffside Motel operators, HOCO acquired all the assets from it when they stopped leasing the land out. When the aforementioned Wendy's was built, the mini golf was moved just up the hill from the sports bar. It's entrance was right on the hill, but the course wrapped around the sports bar and ran back behind Dazzleland, between the back of Dazzleland and the parking lot of the Quality Inn. It would now be dinosaur themed and heavily landscaped. WHLLG designed the course and HOCO contracted Costello to build all the fiberglass dinosaurs. It's unknown what it's original name was, but in the early 90s, with the smash hit of Jurassic Park, it was renamed Dinosaur Park and given a similar logo. Up until the 2018 remodel, Boston Pizza had a patio. This patio was the exact location of the entrance to the mini golf, and the reason the restaurant's building curved in such a bizarre way surrounding the patio was originally to accommodate the course. Underneath the sports bar and mini golf and was an underground building accessible from a back corner of Dazzleland's courtyard. This area housed all of Dazzleland's miscellaneous ticket redemption games and 2 shooting galleries. The low-ceiling area of the Midway called the "Game Factory" is this original building. The Bonanaza Company shooting gallery is still there albeit heavily remodeled, but Blasteroids, an early project by arcade game company Lazer-Tron, was removed in 2016. Interestingly, the chase lights along the back wall of the Game Factory are Dazzleland holdovers. Between the shooting gallery and where what's left of the racing games now are is a bank of maintenance doors. If you get lucky and see them open, you'll see a stairs that was originally an entrance to Dazzleland from further up the street, beside Dinosaur Park. This now lets out somewhere in Boston Pizza's arcade (although I haven't been able to figure out where) and is used by staff to get from "a" to "b" faster.
Dazzleland has been the hardest to dig up information on in my research on Clifton Hill. Although I now know what was in each of the buildings around the outside of this "courtyard", I haven't been able to find which one was where. The only things I've confirmed is where the video game building was, what was in the building in the middle, and confirmed that the Game Factory was originally part of Dazzleland. The rest is beyond me and my memories of it have long faded. If anyone worked here or visited it frequently and has any answers, they would be greatly appreciated. Additionally there was a small pool near the front with a Costello dragon figure in it that spit water out it's mouth. I've heard conflicting reports that this was just a fountain, and others saying it was a small bumper boat or RC boat attraction, but my guess is it was just a fountain as it seems like a pretty small pool. The same year, fiberglass dragon waterslides were added to the Quality Inn pool. Although bearing striking resemblance to Costello's dinosaurs and Dazzleland dragon, at least one more of each of the dragon slides exist, all the way down in Texas. It was originally thought this Texas waterpark bought them off HOCO when Quality Inn closed, but one of the Quality Inn dragons appeared on an episode of shipping wars going to Kansas and the other was recently found abandoned on a private residential property in Niagara, proving they are in fact not the ones at the Texas waterpark. This is evidence they may have been mass produced.
By the time Dazzleland opened in 1989, it was the 8th arcade on the hill (after Circus World, Q-Balls Billiards Pub in Quality Inn, the arcade in Ripley's, the arcade in the Foxhead, the arcade in Castle Dracula, Funland in the basement of the House of Frankenstein, and an arcade that had recently opened in the Pilgrim Motel in their gift shop.) These were just the large-scale, dedicated arcades right on the hill. Many others could be found nearby in Maple Leaf Village, the Skylon, the Seagram, Pyramid Place and the Imperial Hotel as well as many mini golf courses and family fun centres along Lundy's Ln. and the QEW. Also, virtually every gift shop on Clifton Hill and Victoria Ave. had a game or 2.
The mix of arcades, haunted houses, fast food, nightlife and stores selling t-shirts and posters had started a well-known rock culture in Niagara Falls among Southern Ontario youth. The epicenter of this was "Rock World", a rock-themed gift shop that had opened in 1983 on Centre St. (the street Clifton Hill becomes just above Victoria Ave.) They would later add a second story and build Rock Legends Wax Museum above it, with all the figures sculpted by the store's owner Pasquale Rammuno. In 1996, Maple Leaf Village was replaced by Casino Niagara, and many of the attractions found new homes on Victoria Ave., including Screamers and Nightmares. The Elvis Museum, Antique Auto Museum, 50s diner nightclub, and arcade all moved to Pyramid Place adjacent to the IMAX pyramid. Screamers prospered on Victoria Ave., and 2 "sequel attractions" were built in the early 2000s: Creatures of the Night on Victoria Ave. and Horror Manothe Zombie Zoo Nightclub on Centre St. Another attraction, Alien Encounter, would open at the corner of Victoria Ave. and Clifton Hill beside the Criminals Hall of Fame. This slightly thematically darker "north of the hill" area with the Screamers chain, the Criminals Hall of Fame, Rock Legends, Nightmares and Alien Encounter became a "main strip" all in it's own.
As mentioned before, since the cabin courts were all town down in the early 50s, nothing had been torn down on Clifton Hill. The only exception was the Houdini Hall of Fame that burnt to ash in 1996. Some of Houdini's Last Words were claiming that anything revealing his secrets would perish in flame, and even though the fire completely leveled the museum, the plywood and fiberglass paneled House of Frankenstein only separated from it by a 2-foot wide alley was completely untouched, leading a lot of Houdini's fans to believe he was conducting some kind of post-mortem practical joke. The metal objects like handcuffs and the water tank could be saved, and were bought by David Copperfield. Ripley's Moving Theatre was built in it's place. Over the 30 years from Tussaud's opening in 1959 to Dazzleland in 1989, Clifton Hill had expanded and filled up the land. However that didn't mean it was time to tear things down. Things were simply moved around or remodeled to keep them fresh, not out of an unwillingness to change, but because these things had become ingrained in the landscape. Examples of this were Tussaud's moving to its current home in the old building of a restaurant that had since moved on Victoria Ave., rather than the attraction shutting down, or the Adventure Dome Theatre oepneing in part of the Honeymoon City's gift shop. In Tussaud's old place was built the MGM walkthrough/store, Pink Panther ride and 4D Ride in 2002. The beer garden beside it was replaced with the WWE building and the Piledriver ride, but the beer area was moved to between the 2 attractions. In 2004 the Foxhead's arcade was expanded and re-themed into the Marvel Superheros Adventure City.
Another great example of re-freshing an existing attraction was Dazzleland. A simple realization was made, more games = more money and higher guest enjoyment. The outdoor courtyard style with it's room for walkways between the buildings was re-designed, and HOCO again called upon WHLLG. WHLLG designed not only a remodel of Dazzleland, but an incredible 5-step plan that would have made Clifton Hill financially on par with a major theme park. Steps 1-3 came to fruition. Step 1 was remodeling Dazzleland into the Great Canadian Midway in 2002. The level, concrete foundation Dazzleland was built on was kept as the foundation of the Midway, hence why it has the same layout. The former video game building at the back became the FX Ride Theatre (now XD Theatre/Wild West Coaster) in the Midway. The funnel cake shop was kept where it was in Dazzleland except now it was in the Midway, between the FX Ride and the Prize Counter. The area housing Dazzleland's ticket redemption games became the Game Factory. The middle building housing the claw games and kiddie rides was demolished, as it was no longer needed because the Midway was fully indoors and there was now a massive space to put games. The sports bar was expanded and became Boston Pizza, so Dinosaur Park was moved to in front of the Comfort Inn. Under the expanded Boston Pizza, Sally Corp. was hired to build the interactive Ghostblasters dark ride. All of Dazzleland's old games made the transition into the Midway, however very few are still around.
With the Midway making serious buck, HOCO went ahead with phase 2 of WHLLG's plan. Movieland was moved to Circus World's former location in 2005, and Circus World's owners moved the attraction to what was then the popular Victoria Ave. area. In Movieland's old home, Cosmic Golf, a blacklight golf was temporarily set up. 2 years later in 2007, the golf moved to it's permanent home in the basement becoming Galaxy Golf and the gift shop that had been formerly in the basement was moved upstairs. Movieland retained all the figures and sets they had at the time of the move, moving them all into the new space. All the scary elements were put in the new "House of Horrors", a small optional haunted house at the end of the attraction.
Phase 3 involved beginning to demolish the only thing that WHLLG's 5 phase plan would have torn down: Quality Inn. In it's place an amusement park would have been built, anchored by Canada's largest ferris wheel. The wheel would be phase 3 and the amusement park phase 4. Though both WHLLG and HOCO recognized the historical value of the hotel, it had reasons to go. The hotel may have been full of your usual hazardous mid-century building materials (however Comfort Inn built by the same firm the same year was found to have no hazardous materials when it was torn down in 2015, so who knows) but the main issue was elevators and the amount of space it took up. Comfort Inn only had 2 wings, one on each side of the lobby, and only 2 elevators would have needed to be installed. This wasn't legally necessary, as no law states that buildings of age absolutely have to be 100% accessible, it was more something HOCO wanted to do. Quality Inn had multiple wings that weren't accessible from one another, so an elevator would need to be installed in each wing. In addition to the elevator issue, Comfort Inn was chosen as the hotel to keep because the building was integrated with Kelsey's, Rumors Nightclub, Ripley's, and Dinosaur Park, all of which wouldn't have been touched in WHLLG's 5 phase plan. Finally, Comfort Inn's land wasn't big enough for an amusement park whereas Quality Inn's was. 2 things would justify the demolition of Quality Inn. One, it's sister hotel, Comfort Inn, would have been kept. The other reason justifying the demolition would be phase 5: a skyscraper hotel and indoooutdoor waterpark in the field between Clifton Hill and the Skylon Tower. The dragon figures from Quality Inn's pool were kept in HOCO's storage for a time for this waterpark. The final vision can be seen here.
Phase 3 would go ahead in 2006, with the lobby, Golden Griddle and Q-Balls Billiard pub of Quality Inn being torn down and the Skywheel built in it's place. For the last year Quality Inn was open, you would need to register at Comfort Inn's lobby. The same year, the Space Spiral was torn down, as 2 observation attractions wouldn't be needed on the hill. However, a new spiral tower would have been constructed during phase 4 in the theme park. The reason the tower would be demolished rather than moved was because a tower manufactured by the same company in Wildwood, NJ, had begun to sway a few years earlier, resulting in it needing to be removed entirely for safety reasons. Phase 4 was set to go ahead in 2010, so in 2009 the remainder of Quality Inn was demolished. It seemed as though everything would fall into place, and with the exception of Quality Inn making it's sacrifice, everything on Clifton Hill that had been there for 20-60 years would be there forever, just greatly expanded on.
Unfortunately, this came at a turning point for Clifton Hill, when the recession was in full swing and tourism had declined since 9/11. Changing technology and interests, but no real nostalgia trend yet, created a perfect storm, and the idea was scrapped. Especially now that there would be no amusement park, a lot of area attractions closed. HOCO now needed to find a new design company to completely re-design the project. The problem was, Quality Inn was already torn down to make way for the amusement park. HOCO reluctantly found a new design company who had no projects under their belt yet, IDS. HOCO was hopeful the Canadian company could help give them a similar vision to their previous 5 stage plan, that would help them re-use many of the already implemented stages and despite scrapping the amusement park, would simply scale down and redesign the hotel. This was done in hopes that the city would be much more likely to approve just another high rise hotel than an amusement park as well. IDS' new plan was much different than what HOCO was looking for. It featured tearing down Ripley's, Comfort Inn, Kelsey's, and Rumours Nightclub and building a Titanic Museum shaped like the boat. It also featured building a large mall within the hotel rather than a waterpark and relocating and expanding Dinosaur Park into Dinosaur Adventure Golf on Quality Inn's old land. While HOCO thankfully chose not to go ahead with the mall and Titanic Museum, they would build Dinosaur Adventure Golf and work with IDS to make a more feasible plan that better suited Clifton Hill.
The new plan featured Dinosaur Adventure Golf and Strike! Rock 'n Bowl as phase 1. It also included removing a lot of the thematic brand identity elements WHLLG had implemented to coincide with their final amusement park vision and replacing Galaxy Golf with Wizard's Golf as phase 2. Phase 3 would feature tearing down Comfort Inn (that never got it's elevators due to it no longer being planned to be kept), building Niagara Speedway in it's place, and removing Rumors Nightclub to accommodate the new Kelsey's bathrooms and Zombie Attack. Phase 4 would feature remodelling Wendy's, Boston Pizza and Kelsey's. Phase 5 would feature a mall (no hotel) in the field between Dinosaur Adventure Golf and the Skylon, but this final phase will likely never come to fruition.
Multiple attractions have closed since the late 2000's, such as the entire Screamers chain, Circus World, The Criminals Hall of Fame, Funland Arcade and Alien Encounter. The Hilltop Motel became the current home of the Upside Down House, and the Pilgrim Motel became Captain Jack's. Ironically, the only part of the building that's not part of the entertainment centre is a Mini Mart at the back that was the original arcade in the Pilgrim. Virtually everything in the Falls. Ave. complex other than Rainforest Cafe and the 4D theatre is gone. Marvel Superheroes Adventure City lost its license after Disney bought Marvel, and it simply became Adventure City. The Hulk Mini Golf became jungle themed, Spider-Man references were (poorly) removed from the dark ride, and X-men referenced were (also poorly) removed from the bumper cars. References to Marvel can still be found in the arcade, such as Spider-Man's face on a tree that was only covered up a few years ago. The WWE Store, after being abandoned since 2012, was turned into the Niagara Brewery Beer Store in 2016, fitting considering the land's history as a beer garden. Planet Hollywood on Falls Ave. closed around 2014, and is still abandoned. The MGM walkthrough was abandoned for over 10 years before becoming a barbecue restaurant in 2019.
The changes in the Falls Ave. complex are an example of good change, replacing abandoned attractions with ones that if anything are closer to what used to be there, such as Adventure City becoming an unthemed arcade again or the Beer Store being where the Beer Garden once was. Another example of this good change would be the long abandoned (and burnt) Adventure Dome that had briefly held a Lego attraction being turned into the Amazing Big Top Mirror and Lazer Maze in 2017. However a perfect example of negative change is the Rock Legends Wax Museum being forced out of business because a YouTube video of the museum was flagged for copyrighted music by YouTube's algorithms. This lead Sony Music to investigate the museum and shut it down last year if it wouldn't pay ridiculous licensing fees, which it couldn't afford.
Another example is IDS' redevelopment plan. HOCO is now locked in a contract with them, even though they obviously have very different ideas on the direction of Clifton Hill. Phase 1 was implemented in 2011, with Boston Pizza expanding their arcade to include Strike! Rock 'n Bowl and Dinosaur Park moving to where Quality Inn was and being renamed Dinosaur Adventure Golf. All of Costello's original dinosaurs (with the exception of the original Pterodactyl) would "migrate" to the new location where they would be joined by dozens of new mass-produced dinosaurs. Interestingly, foundations were built back in 2011 for the original 2 Brontosaurs to appear as if they were coming out of the ponds, but they wouldn't show up until 2019 when they were brought back out of storage to be installed, only to lay on the ground for a few months before going back into storage. Although it didn't use new hand-made figures, this attraction was a change that fits the spirit of Clifton Hill and was a good replacement for the empty plot of land that had once housed Quality Inn, even if an amusement park would have been better. The same cannot be said about the rest of IDS' plan. Many thematic elements installed throughout the hill by WHLLG (especially in Movieland and the Midway) were removed in phase 2 in 2013 simply to fit with IDS's image better, costing HOCO a lot of money. Phase 3 went ahead in 2015, and the 60 year old Comfort Inn was demolished, along with the old HOCO offices in it that if you remember from part 1, was the original nearly 200 year old stable building for the Zimmerman estate. Niagara Speedway was built in it's place, and if you look at the prices to drive it, then watch how many people do, you realize just how much they're making off it. Rumors Nightclub, originally the Queen's Door Nightclub in 1956, was gutted and turned into Zombie Attack and the new Kelsey's bathrooms, as the old ones had been in the Comfort Inn building. Phase 4 in 2018 extensively remodeled Wendy's as well as Boston Pizza, removing the patio.
Ghostblasters is now the final untouched WHLLG era attraction on the land. This is made even more troubling by the fact the signs for it were just removed and replaced with temporary ones, as I said in the post that started the entire discussion on whether or not I should do this series. If the attraction does go, we can only hope that a new interactive dark ride utilizing artistry, dimensional scenes and props much like Ghostblasters does is built, however that likely won't be the case. Triotech is the lead designer of ride through shooting games, that feature a dark ride car that travels through a hallway with screens on each side of it rather than real props. Triotech has dealt with HOCO before, building both the Wild West Coaster and Zombie Attack, so all signs point to one of these attractions replacing Ghostblasters if it closes.
There is still hope that Clifton Hill can retain it's spirit, but it stands at a crossroads. The House of Frankenstein for example, while retaining many original scenes, has had many removed and replaced with nothing, and many areas of the museum taken out entirely. Castle Dracula on the other hand hasn't updated a thing, but hasn't cared for the original scenes either, leaving them to fall into disrepair and only having 7 or 8 of the original 70 still lit, and none of them still functional. There are 2 directions Clifton Hill can go. With many attractions like the ones on HOCO's side being demolished to make way for whatever is trendy and lucrative, and many hanging on by a thread like Castle Dracula or Ghostblasters, the Hill is in real danger of becoming an endlessly overturning and developing area. However, with money recently being poured back into attractions like the Haunted House, Ripley's, and Guinness and attractions being redeveloped like the Falls Ave. complex or the Big Top Mirror maze, there is hope. If people, including the companies that own them, can recognise the historical value of attractions like Castle Dracula, The House of Frankenstien, Movieland, Tussaud's, etc., this can be promoted and the recent nostalgia boom can create large profits if this is played up. Additionally, future developments can still be more in the vein of what WHLLG envisioned for Clifton Hill, or what the Burlands recently did with the well done Big Top Mirror Maze. This is both profitable and economically sensible, as repeat customers that make memories and come to the area for generations with occasional new updates/re-themings (like what Clifton Hill did from the 50s-2010s), is far more profitable than a constantly turning over wave of new developments that cost millions to build that changes with each generation.
Thank you to everyone who has followed this series. Sorry for the length of this, but I promised this would be the last installment, so it has to be longer. If you have any information pertaining to Dazzleland or anything you know that I didn't cover in this series, let me know. Additionally, if you would like me to dig up photos on anything that I mentioned in the series, let me know, as unless it's the Dazzleland dragon, I probably have a photo of it. I will likely post many of them here anyway in time. Thanks again.
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Today's Stock Market News [Monday, March 23rd, 2020]

Good morning traders and investors of the wallstreetbets sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-

Today's Top Headlines for Monday, March 23rd, 2020

  • U.S. stock futures turned strongly positive Monday morning after the Federal Reserve pledged asset purchases with no limit to support markets. Dow futures hit their 5% “limit down” overnight, and were off 600-points at one stage Monday morning, as a massive coronavirus funding package failed a key Senate procedural vote Sunday. The Dow Jones Industrial Average tanked another 900 points or 4.5% on Friday, bringing the weekly decline to over 17% for the worst week since the 2008 financial crisis. Ahead of Monday’s session, the Dow was off more than 35% from last month’s record highs. The New York Stock Exchange’s trading floor will be close starting Monday. The NYSE will go to fully electronic trading. The 10-year Treasury yield, which popped back above 1% last week, was below that level early Monday.
  • Top-level White House and congressional negotiators burned the midnight oil over the now-nearly $2 trillion coronavirus rescue package. Democrats blocked the bill in Sunday’s vote, saying it did too much to bail out companies and not enough to help workers. Several GOP senators, including Rand Paul, who tested positive for the coronavirus, were not present to vote. Others, such as Mitt Romney, were in quarantine as a precaution. The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion. Goldman Sachs upgraded shares of Boeing, which is hoping for a bailout. Boeing stock has dropped 80% from recent highs on the dual crises of the outbreak and the grounding of its 737 Max.
  • The United States has the third most coronavirus cases in the world, with over 35,000 and 471 deaths, according to Johns Hopkins University data. More than half the U.S. cases are in New York, where the death toll increased to 153. Washington state has the second-most cases, with nearly 2,000 confirmed and 95 deaths. New Jersey, California and Illinois round out the top five states. President Donald Trump on Sunday activated the National Guard in New York, Washington state and California in order to combat the spread of the coronavirus. New York plans to run a clinical trial, beginning Tuesday, of a treatment regimen of antimalarial hydroxychloroquine and antibiotic azithromycin, a drug cocktail that has shown promise in fighting the coronavirus.
  • Global coronavirus cases topped 343,000, with 14,789 deaths and over 98,800 recoveries. China, where the outbreak started in December, still has the most cases at over 81,400. China’s 3,274 deaths are second to Italy’s 5,476 deaths. Italy is second in total cases at over 59,100. The U.S., Spain and Germany round out the top five countries. German Chancellor Angela Merkel went into quarantine over the weekend after contact with a doctor who tested positive for the virus. The German government is set to unveil major stimulus measures. Pressure mounts to cancel the Tokyo summer Olympics, set to begin at the end of July. Canada said it won’t send teams to compete. Local media reports indicate that Japanese Prime Minister Shinzo Abe is considering a delay.
  • Cisco Systems is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley also initiates an investment blitz. 3M said it will supply New York and Seattle with a half-million N95 respirator masks to address the ongoing shortage of health-care equipment. Merck said it will supply New York City with a half-million masks. Chinese billionaire and Alibaba founder Jack Ma sent to Africa 5.4 million face masks, over 1 million testing kits, 40,000 sets of protective clothing and 60,000 protective face shields. BlackRock is committing $50 million in outbreak relief.

STOCK FUTURES CURRENTLY:

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LAST WEEK'S MARKET MAP:

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TODAY'S MARKET MAP:

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LAST WEEK'S S&P SECTORS:

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TODAY'S S&P SECTORS:

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TODAY'S ECONOMIC CALENDAR:

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THIS WEEK'S ECONOMIC CALENDAR:

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THIS WEEK'S UPCOMING IPO'S:

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THIS WEEK'S EARNINGS CALENDAR:

($MU $LULU $NKE $PAYS $SIG $PAYX $GME $ONTX $CSIQ $JT $INFO $GO $WGO $LX $SCVL $SNX $HOME $BWAY $AEYE $KBH $RKDA $FDS $ERJ $PRGS $OPGN $SCS $NEOG $PUMP $HYRE $AIR $MYOS $LIQT $SAIC $SCWX $ESLT $VTSI $OCGN $QIWI $WOR $TNP $HTHT)
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

()
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N/A.

EARNINGS RELEASES BEFORE THE OPEN TODAY:

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EARNINGS RELEASES AFTER THE CLOSE TODAY:

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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:

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FRIDAY'S INSIDER TRADING FILINGS:

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TODAY'S DIVIDEND CALENDAR:

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THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • NFLX
  • MMM
  • PCG
  • AME
  • ITCI
  • GDX
  • CAT
  • URGN
  • MYGN
  • EVBG

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
Boeing (BA) – Boeing was upgraded to “buy” from “neutral” at Goldman Sachs, which said Boeing will remain a going concern and that flight travel will be as popular as ever once COVID-19 is resolved.

STOCK SYMBOL: BA

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Coca-Cola (KO) – Coca-Cola was upgraded to “overweight” from “neutral” at JPMorgan Chase, which points to rebound prospects post-COVID-19 and the idea that consensus estimates for revenue and profit are conservative.

STOCK SYMBOL: KO

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Deere (DE) – The heavy equipment maker withdrew its financial outlook for 2020 due to the virus outbreak, and is temporarily shutting down some operations. It is continuing to operate in the U.S. and globally to the extent possible.

STOCK SYMBOL: DE

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Amazon.com (AMZN) – Amazon is raising overtime pay for warehouse workers amid a surge in online shopping. Amazon’s move follows similar action from rival Walmart (WMT), which raised the minimum wage for e-commerce warehouse workers.

STOCK SYMBOL: AMZN

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Danaher (DHR) – Danaher’s Cepheid unit received U.S. Food and Drug Administration approval for its rapid coronavirus diagnostic test, the first of its kind. The test can deliver results in about 45 minutes, compared to lab results which can take days.

STOCK SYMBOL: DHR

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Netflix (NFLX) – Netflix was upgraded to “outperform” from “neutral” at Baird, which thinks the video streaming service will benefit from at least 2 factors: more people at home due to the coronavirus outbreak, and acceleration of cord-cutting due to the lack of live sports on TV.

STOCK SYMBOL: NFLX

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Apple (AAPL) – Apple dropped a two-device limit on online iPhone purchases, just days after instituting that limit. Apple brick-and-mortar stores outside China remain closed due to the coronavirus outbreak.

STOCK SYMBOL: AAPL

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Newmont (NEM) – Newmont withdrew its 2020 outlook, with the mining company planning to defer some of its production to 2021.

STOCK SYMBOL: NEM

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Occidental Petroleum (OXY) – Occidental is near a settlement with activist investor Carl Icahn, according to The Wall Street Journal. Under the proposed deal, two Icahn allies would receive seats on the Occidental board, and a third independent director would be mutually agreed upon by Icahn and Occidental.

STOCK SYMBOL: OXY

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MGM Resorts (MGM) – The casino operator named Bill Hornbuckle – the president of its international division – as acting chief executive officer. Jim Murren stepped down as chairman and CEO over the weekend, following last month’s announcement that Murren would vacate that position.

STOCK SYMBOL: MGM

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Gilead Sciences (GILD) – The drugmaker put emergency access to its experimental coronavirus drug remdesivir on hold due to overwhelming demand.

STOCK SYMBOL: GILD

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Best Buy (BBY) – The electronics retailer withdrew its financial guidance for the current quarter and the fiscal year, due to uncertainty related to the virus outbreak. It is also suspending all share buybacks and is shifting to curbside service only for its stores.

STOCK SYMBOL: BBY

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Starbucks (SBUX) – The coffee chain is closing most of its company cafes across North America for two weeks, limiting service to drive-through.

STOCK SYMBOL: SBUX

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Tiffany (TIF) – French luxury goods maker LVMH denied last week’s reports that it is mulling buying shares of Tiffany on the open market, saying it is sticking with the takeover agreement signed in late 2019. Reports last week had said LVMH was considering open market purchases of Tiffany shares, since they are now selling for less than the agreed-upon takeover price.

STOCK SYMBOL: TIF

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Bed Bath & Beyond (BBBY) – The housewares retailer is closing its flagship-branded stores until April 3, to help stop the spread of the coronavirus.

STOCK SYMBOL: BBBY

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Marriott (MAR), (HLT) – These and other hotel companies are placing tens of thousands of workers on furlough, as travel dries up in the midst of the coronavirus outbreak.

STOCK SYMBOL: MAR

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DISCUSS!

What is on everyone's radar for today's trading day ahead here at wallstreetbets?

I hope you all have an excellent trading day ahead today on this Monday, March 23rd, 2020! :)

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