ASCA YOUTUBE

In preparation for ASCA's 2Q earnings release tomorrow, we’ve put together the recent pertinent forward looking company commentary

 

 

Ameristar breaks ground on Lake Charles casino (July 19) 

 

 

YOUTUBE FROM 1Q CONFERENCE CALL (May 2)

  • "We did a transaction subsequent to the end of the quarter raising $240MM as an add-on to our existing 7.5% senior notes, which are due 2021. The terms are exactly the same as that note. They were issued at a premium of 103% generating yield of 6.88%, total amount of notes outstanding now are $1.4BN. Proceeds from the offering were used to completely pay down our revolver including $25MM we borrowed early in April... This obviously creates great flexibility for us to finance the Ameristar Lake Charles project"
  • Guidance: 
    • Stock base compensation: $3.5MM to $4MM for 2Q12 and $14.8MM to $15.8MM for FY2012
    • Deprecation: $26.5MM to $27.5MM in 2Q12 and $105MM to $110MM for FY2012 
    • CapEx: $20MM to $25MM in 2Q12 (including some small amounts for Louisiana) and FY2012: $160MM to $165MM (including expenditures on Louisiana)."
    • Tax rate:  "going forward should be somewhere in the neighborhood of 39% to 41%... 43%, 44% it was historically... the weighted average rate for this year should be somewhere roughly 27% to 29% based on the impact to the tax rate during the first quarter."
    • Interest expense:  "should range between $20MM and $29MM it will increase slightly on an annualized basis to $109MM to $114MM. Beginning in 2013 as you would expect there'll be capitalized interest, it will start to grow related to Louisiana probably which will offset the net increase we're seeing in interest expense from the increase in the outstanding notes versus the revolver."
    • Non-cash interest: $1.1MM to $1.6MM in 2Q12 and $5.3MM to $5.8MM for FY2012 million 
    • Corporate expenses: $12MM to $13MM in 2Q12 and $52MM to $53MM for FY2012. 
    • Share count: 34MM to 34.5MM
    • Dividends: "Board of Directors just recently approved a $0.125 dividend for the second quarter. If the dividends are continuing to be approved by the Board in the third and fourth quarter total amount of dividends for the year will be $0.50."
  • New Lake Charles casino
    • Completion: 3Q 2014
    • Gaming: 1,600 slots/ 60 table games
    • Hotel: 700 roomswith approximately 70 suites
    • Other amenities: Variety of food and beverage outlets, spa, pools, golf, tennis and other resort amenities, 3,000 parking spaces including 1,000 of them in a garage. 
    • Capex: $500MM
    • "We don't expect to borrow much under the revolver in 2012 as we believe we can fund much of the CapEx with free cash flow. And we think the strength of the market is actually proven up by the first quarter results and we expect that to continue to be a growing market."
  • "In Springfield the demolition and site grading are almost complete. We expect to take control of the property by
    the end of May."
  • [Kansas competition] "I think another quarter or two and we'll start to get a more stabilized trend line of what things are going to look like, but we're very encouraged by the strength of our Kansas City property. We've always said it's the best quality property in the market, it's the furthest away from the competition and I think we're going to do just great."
  • [Lake Charles market] "There'll be probably some cannibalization, but I think we're probably going to be cannibalizing some of the operators perhaps more than we will L'Auberge."
  • "I don't think consumer confidence has seen a huge boost... They've had lower utility bills this year versus last year where they've had a little bit higher gasoline prices. Employment is changing in some respects in some of the markets. But I think ... people are still being a little guarded with how they're spending. I don't see long-term trend lines developing yet."
  • "East Chicago I think will continue to be a strong player in that market. I think the bridge will help us some if it can happen, but we're moving along on the assumption that it never happens and running the property accordingly and I think it's working very, very well."

Neurofinance: The Psychology Behind When To Sell A Bull Market

"Most momentum investors stay invested too long, under-reacting and holding tight after truly bad news finally arrives to break the trend," writes MarketPsych's Richard Peterson.

read more

Energy Stocks: Time to Buy the Dip? | $XLE

What the heck is happening in the Energy sector (XLE)? Energy stocks have trailed the S&P 500 by a whopping 15% in 2017. Before you buy the dip, here's what you need to know.

read more

Cartoon of the Day: Hard-Headed Bears

How's this for "hard data"? So far, 107 of 497 S&P 500 companies have reported aggregate sales and earnings growth of 4.4% and 13.2% respectively.

read more

Premium insight

McCullough [Uncensored]: When People Say ‘Everyone is Bullish, That’s Bulls@#t’

“You wonder why the performance of the hedge fund indices is so horrendous,” says Hedgeye CEO Keith McCullough, “they’re all doing the same thing, after the market moves. You shouldn’t be paid for that.”

read more

SECTOR SPOTLIGHT Replay | Healthcare Analyst Tom Tobin Today at 2:30PM ET

Tune in to this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.

read more

Ouchy!! Wall Street Consensus Hit By Epic Short Squeeze

In the latest example of what not to do with your portfolio, we have Wall Street consensus positioning...

read more

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more