Author Topic: UWN - Nevada Gold  (Read 15604 times)

writser

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Re: UWN - Nevada Gold
« Reply #30 on: September 18, 2018, 11:49:00 AM »
Congratulations!
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.


Foreign Tuffett

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Re: UWN - Nevada Gold
« Reply #31 on: October 02, 2018, 11:43:39 AM »
Alpha Vulture did a post on this as a merger arb play. I like it as such too, and consequently still hold my shares.


https://alphavulture.com/2018/10/01/nevada-gold-casinos-merger-arbitrage/

FF4F

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Re: UWN - Nevada Gold
« Reply #32 on: November 09, 2018, 11:17:07 AM »
Anybody an idea what causes the volume spike?

I see no news? But could be missing something/...

Hielko

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Re: UWN - Nevada Gold
« Reply #33 on: November 09, 2018, 12:57:12 PM »
I have no idea... but almost get the feeling that one of their big holders decided to sell their whole stake in one day for some reason.

hillfronter83

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Re: UWN - Nevada Gold
« Reply #34 on: November 09, 2018, 04:53:04 PM »
I have no idea... but almost get the feeling that one of their big holders decided to sell their whole stake in one day for some reason.

I had the same feeling. I initiated a small position at 2.38 and then added to it later during the day. This happened to CALL on big market down days(not saying we will get same result). It’s likely there are people need liquidity at such time. But who knows. Make sure you size the position.

fishwithwings

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Re: UWN - Nevada Gold
« Reply #35 on: November 26, 2018, 01:25:34 PM »
Just a few questions… Although the deal is not conditional on financing, Maverick is still borrowing money from a bank. Also, the deal is conditional on the closing of the club Fortune sale. Aren't these as major risks?

Foreign Tuffett

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Re: UWN - Nevada Gold
« Reply #36 on: November 28, 2018, 06:41:31 AM »
Just a few questions… Although the deal is not conditional on financing, Maverick is still borrowing money from a bank. Also, the deal is conditional on the closing of the club Fortune sale. Aren't these as major risks?

Yes, I think they are both risks, especially the latter.

writser

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Re: UWN - Nevada Gold
« Reply #37 on: January 02, 2019, 02:02:12 PM »
The Club Fortune casino has been sold (link). Next step: definitive proxy. Deal is taking a bit longer than expected .. Still, if everything works out: 4% in a few months. Not too bad. Club Fortune sale price is $14.65m - very slightly higher than expected but subject to a post-closing working capital true-up. Not sure how that combination will affect the merger consideration but it's probably not super significant.
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

Foreign Tuffett

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Re: UWN - Nevada Gold
« Reply #38 on: January 25, 2019, 09:02:30 AM »
Definitive proxy released this morning:

Meeting is scheduled for Feb. 22nd, which means that shareholders will likely receive at least $2.51 a share.

Transaction still expected to close in "early 2019", which seems a little vague given that it's already nearing the end of January. A reasonable interpretation is probably by or before the end of March.

Either party can walk without penalty if the transaction hasn't occurred by April 15th, which is still comfortably in the future.


https://www.sec.gov/Archives/edgar/data/277058/000114420419002713/tv508341-defm14a.htm

mrx1024

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Re: UWN - Nevada Gold
« Reply #39 on: April 09, 2019, 02:36:53 AM »
The schedule was extended: Either party can walk without penalty if the transaction hasn't occurred by July 15, 2019.

If the Merger occurs after May 1, 2019, the per share merger consideration will automatically increase by $0.02 (instead of $0.01) for each month.

http://ir.nevadagold.com/static-files/a20e1147-6b08-4906-9b4b-128a66ddba64