Don't doubt it - looks like I should have taken the Dubai World tender offer. I still have faith in LVS and never did think Wynn's financials justified the share price. I don't like or trust the guy and there are more than enough reasons.

Now the place to watch is RIV - currently $1.20 a share. I estimate the strip acreage alone makes it worth $59-$65 a share. Say I over estimate and it's worth $40. Still not a bad place to be.

MGM is just lost money. Kerkorian is about 90 and I never really embraced his vision for Vegas, but he beat all comers (Hughes/Wynn) and was damned sharp. He still may beat this one, but it looks pretty bad.

How can Wynn, with one property and one in Macau be valued at 7-8X MGM? I doesn't add up and it never will to me.