I feel like I was there with you. Nice write up on your scuttlebutt adventures! Thanks for sharing as always. Do you feel like you had any key take aways which have changed your outlook for CNTY?
Sounds like they're very much a mid market type of operation. Putting myself in the shoes of guests coming to these towns, when theres these amazing venues for sometimes a fraction of the cost, it seems like its a pretty hard sell to get them to stay at CNTY.
Thanks for the delightful article, I paid the monthly fee just to be able to read this. Very fancy looking casinos over there, hard competition. All the best for the future.
Thanks for taking the time to read through it all.
Monarch is also looking fairly juicy atm, they pretty much copied the purchase leaseback agreement of CNTY, the difference is that they’re still in their capex cycle.
I feel like I was there with you. Nice write up on your scuttlebutt adventures! Thanks for sharing as always. Do you feel like you had any key take aways which have changed your outlook for CNTY?
Sounds like they're very much a mid market type of operation. Putting myself in the shoes of guests coming to these towns, when theres these amazing venues for sometimes a fraction of the cost, it seems like its a pretty hard sell to get them to stay at CNTY.
Is that the vibe you got?
Thanks! Glad it brought you along for the ride 😊
Yeah, that’s exactly the vibe. Mid-market, solid ops, but not trying to be Vegas.
Takeaway:
1) They're leaning hard on local loyalty and cost control aka not trying to win tourists, just to keep the locals coming back.
2) It's not a compounder (confirmation), but its severly underrated as is
3) Management is pretty competent (and more conservative than I thought).
4) Tons of prudent microbets (adding a few rooms, adding new machines in a few corners). It's permanent trial and error optimization
Thanks for the delightful article, I paid the monthly fee just to be able to read this. Very fancy looking casinos over there, hard competition. All the best for the future.
Thanks for taking the time to read through it all.
Monarch is also looking fairly juicy atm, they pretty much copied the purchase leaseback agreement of CNTY, the difference is that they’re still in their capex cycle.
Let’s see how things develop