ASCA YOUTUBE

In preparation for ASCA's Q4 earnings release tomorrow, we’ve put together the recent pertinent forward looking company commentary.


 

AMERISTAR CASINOS INCREASES CASH DIVIDEND BY 19% (01/30/2012)

  •  “ASCA announced that its Board of Directors has declared a quarterly cash dividend of $0.125 per share, payable March 15, 2012 to stockholders of record as of Feb. 29, 2012. This represents an annual rate of $0.50 per share, a 19% increase over the annual dividend for 2011.” 

ASCA ANNOUNCES CLOSING OF PURCHASE OF CASINO RESORT DEVELOPMENT SITE IN SPRINGFIELD, MASS (01/25/2012)

  • “Ameristar purchased the site at Page Blvd. and Interstate Highway 291 for $16 million from an affiliate of the O'Connell Development Group Inc. Westinghouse.”
  • “Ameristar's development plans are preliminary but are expected to include a state-of-the-art casino continuously updated with the newest and most popular slot machines (a hallmark of the Ameristar brand) and a variety of table games, a luxury hotel, a diverse offering of dining venues, retail outlets, entertainment and meeting space and structured parking.”

YOUTUBE FROM Q3 2011 CONFERENCE CALL

  • As I mentioned, we're obviously controlling our costs well across our properties, particularly in promotional spending.  And we're confident we can achieve a high flow through rate going forward.”
  • “We're allowed to have up to seven times on a total net leverage basis.  And the senior leverage ratio is now below three times at 2.92 for Q3. The allowable rate at this present time would be 4.5 times.”
  • “Q4 2011 estimates for non-cash stock-based compensation expense is expected to between $10 million and $11 million in the fourth quarter. For the year, we anticipate we'll hit $22 million to $23 million. Our blended federal and state tax rate is projected to be between 41% and 43% for the fourth quarter and for the year. Capital spending for the remainder of 2011 is expected to be in the range of $19 million to $24 million, which we anticipate will be predominantly maintenance CapEx. Interest expense in Q4 is expected to be near $27.4 million. Non-cash interest is expected to between $1.1 million and $1.6 million for Q4.”
  • “Based on our operational cash flow needs that occur every year in the fourth quarter, we'll probably only be making the one mandatory principal repayment at the end of the quarter, which will bring our full year debt repayment to somewhere around $184 million to $187 million, which obviously has been substantial. Use of our free cash flow was concentrated on retiring debt this year to get our debt multiple down, to put the company in a position to pursue other strategic opportunities. And the board has approved the fourth quarter dividend that will be paid in December.”
  • “Basically we've seen a significant decline in professional fees through the year and as we've wrapped up a few things. And there were some costs related to the share repurchase and to the refinancing and to some changes in personnel that occurred in the first six months of the year that are obviously not going to be reoccurring going forward.”
  • “We haven't made anything public as how we believe this will impact us or not impact us, other than to suggest people take a look at what South County's Pinnacle property impact had on our St. Charles property. They're literally the same distance from each other, 24, 25 miles. And that should give you a pretty good indication of what could happen in Kansas City once the racetrack casino opens.”

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This is a brief note written by Hedgeye U.S. Macro analyst Christian Drake on 4/28 dispelling media reporting that “US GDP collapses to 0.7%, the lowest number in three years with the worst personal spending since 2009.”

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7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

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Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

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GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

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Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

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Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

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Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

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People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

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UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

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Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

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Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

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An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

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