NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866 NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx Playboy going public: Porn, Gambling, and Cannabis !!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/ https://www.playboytv.com/ https://www.playboyplus.com/ https://www.iplayboy.com/ Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/ https://www.microgaming.co.uk/ “This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/ As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1 They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea “Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/ Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said.
https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this:
https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too:
https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05 Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China.
https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.”
https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the
Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.”
https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003 Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing “Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf Or here:
https://www.mcacquisition.com/investor-relations/default.aspx Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.
submitted by "You're going to play gotcha questions with me?" - Sen. Cory Gardner (R-CO), asked if he thought Joe Biden won the election Don't Wayne On My Parade
Eleven days after the election ended in decisive victory for Joe Biden, Republicans’ continued performance of uncertainty about the outcome is as appalling and dangerous as it is unrelentingly embarrassing.
- On Tuesday, the two Republican members of the Wayne County Board of Canvassers briefly refused to certify the election results in Michigan’s largest county, for a very valid reason that definitely wasn’t “Detroit has a lot of Black voters and we don’t think their votes should count.” (Against all odds, a white man in a polo shirt summed up this stunt best.) The Republicans reversed course on Tuesday night, for a very badass reason that definitely wasn’t “reporters started finding all the racist memes on our Facebook pages.” As a cherry on top, Donald Trump missed the memo and congratulated his would-be coup enablers on their courage, after they had agreed to certify the results.
- His hopes of stealing away Michigan’s electoral votes dashed, Trump has turned to Wisconsin, a state he lost by more than 20,000 votes. The Trump campaign has filed a petition for a recount, but only in Wisconsin’s two largest, most Democratic-leaning counties, for a very solid reason that assuredly wasn’t “we’ve been through this, that’s where all the young and Black voters are.” That partial recount cost the campaign $3 million, but if you can pay Rudy Giuliani $20,000 a day to rattle off conspiracy theories at an exasperated judge, what’s a few million dollars to lose Wisconsin again?
- As profoundly dumb as all of this is, it is also incredibly corrosive. It’s no particular surprise that Trump fired DHS’s cybersecurity director Chris Krebs for the crime of debunking his lies about the election having been stolen from him, but it deserved immediate, unanimous condemnation. Instead, Democratic lawmakers have spoken up, while Republicans, with a few half-hearted exceptions, have sat on their hands. What will it mean for future elections that a defeated president fired an official who safeguarded this election’s integrity and then told the truth about it, and a whole political party said “sure”?
Republicans might be blowing up democracy in slow-motion, but at least most of them aren’t pretending to agonize over it.
- Sources who have spoken to General Services Administrator Emily Murphy say she’s been struggling with her unilateral decision to delay the presidential transition, and feeling like she’s been put “in a very difficult position.” Boy have we got great news for Emily: This one’s actually super simple. There’s no real doubt about who won the election, so you can just go ahead and sign that piece of paper! Get a marketing job and move to Paris! You’re free!
- In the meantime, Joe Biden has been pushing ahead with transition briefings from outside experts. Those briefings have limitations, as advisors outside of the government won’t have the most up-to-date information, and can’t share classified intelligence. The White House has refused to provide even basic coronavirus data to the transition team, and in spite of the lives hanging in the balance if sabotaging the transition creates problems with vaccine distribution, HHS Secretary Alex Azar said the department won’t communicate with the Biden team until the GSA signs off.
Each of Trump’s far-fetched coup maneuvers has flopped, but way too many Republicans have been happy to give them a whirl, and there’s no reason to think they wouldn’t try again in an election with closer margins. Whatever surreal elements of this year we eventually shove down the memory hole for our collective sanity, that fact can’t be one of them.
Look No Further Than The Crooked Media
On today's Keep It stream, Ira, Louis, and Aida discuss Candace Owens and Ben Shapiro's fervor over Harry Styles wearing a dress on the cover of
Vogue: "The hilariousness of 'bring back manly men.' Where do you want them brought?" Watch and subscribe →
youtube.com/crookedmedia Under The Radar
Donald Trump just gave the worst possible job to a former speechwriter who was fired for having white nationalist ties. The White House dismissed Darren Beattie
in 2018 after it came to light that he had spoken at a white-supremacist conference, back when that was something the Trump administration could still be shamed about. Beattie then
took a bunch of taxpayer money from Rep. Matt Gaetz (R-FL), in a violation of House rules. Following that proud interlude, Trump has welcomed Beattie back into the administration fold with
an appointment to the Commission for the Preservation of America’s Heritage Abroad, which was established for the specific purpose of
preserving the memory of Holocaust victims. Sixty-three days until the Inauguration.
What Else?
The official U.S. coronavirus death toll has surpassed 250,000, and more than three million people are estimated to be currently contagious. Doctors on the coronavirus task force warned Vice President Mike Pence that the U.S. could see an average of 2000 deaths a day by Christmas (Scott Atlas was presumably in the bathroom), and urged Pence or Trump to stress the importance of mitigation efforts from the White House podium.
Neither of them has any scheduled plans to do so, but White House Press Secretary Kayleigh McEnany called statewide coronavirus restrictions “Orwellian,” if that’s helpful to anyone?
New York City’s public school system will shut down for in-person learning on Thursday (though bars, restaurants, and gyms are still open, lol), and Gov. Kim Reynolds (R-IA) has joined a growing number of Republican governors in issuing a mask mandate for the first time. All straight out of
Animal Farm.
The FAA has cleared Boeing’s 737 Max to resume flights, 20 months after grounding it following two fatal crashes and roughly 100 years before we will agree to step foot on one.
Trump has ordered the rushed withdrawal of troops from Iraq and Afghanistan, though not the total withdrawal he had campaigned on. According to one administration official, this is part of the White House’s galaxy brain strategy to
light more fires than Biden can put out.
Well, here’s unelected Sen. Kelly Loeffler (R-GA) violating Senate ethics rules by soliciting donations from a federal office building. Let’s
send her home, yes?
Donald Trump was terrified he would be cut in half by lasers at the opening of his Atlantic City casino in 1990, while “Eye of the Tiger” was blasting over the loudspeakers. Just a nice little image to carry close to your heart.
Rockefeller Center’s bummer of a Christmas tree has been widely deemed a metaphor for 2020. The tree’s
resident owl who was just minding his own business before getting dragged into midtown can confirm.
Be Smarter
One of the biggest takeaways from this election has been “Latino voters are not a monolith,” and while much of that analysis has focused on Florida, it’s just as true everywhere else. In Texas, Trump became the first GOP presidential candidate in a century to win Zapata County, which is more than 94 percent Hispanic or Latino. Dissecting the result the requires understanding the specific character of South Texas, where most Spanish-speaking residents self-identify as Tejano. Most consider themselves American above all else, wouldn’t identify as people of color, and have positions on gas and oil, guns, and abortion that are closely aligned with the Republican Party. The Trump campaign recognized and effectively targeted that specific community, and Democrats will need more than generic messaging to win it back.
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Is That Hope I Feel?
A federal judge has blocked the Trump administration’s policy of using the pandemic as an excuse to turn away migrant children seeking asylum at the border. Pfizer now says that its vaccine actually seems to be 95 percent effective, and, implicitly, that Moderna can eat its shorts. Pfizer plans to apply for emergency use authorization from the FDA within days.
The FDA has issued emergency use authorization for the first at-home rapid coronavirus test. Tiara Mack has become the first openly LGBTQ Black person elected to the Rhode Island state Senate, at age 26: “I'm going to be unapologetically Black, I'm going to be unapologetically queer, and I'm going to be unapologetically young, and I'm going to push back against the system that tells us we don't deserve justice now.”
Enjoy
Philip Michaels on Twitter: "This Senate hearing looks like the tale of a marooned lighthouse keeper and the robot butler he built to stave off loneliness."
submitted by I am at Atlantic City and especially with covid this place is a vegan desert.
I already knew about Tony Boloney’s, thankfully since I work in Hoboken where they also have a location. I also found the Healthy Hippo that has acai/pitaya bowls, but I don't really consider that a full meal.
I can't really figure out what to eat here. They also don't have any of the national taco/burrito joints like Chipotle, Moe's Southwest Grill, Taco Bell, Qdoba, etc. Or any of the national chains that have Beyond meat or Impossible burgers like White Castle, Burger King, TGI Friday's, etc. Most the casino restaurants that have vegan options don't open till quite late also.
Any suggestions? Leads?
submitted by My wife and I are planning a weekend stay to Atlantic City (first time) and I'm wondering if anyone has been recently and can speak to their experience with all the new restrictions. We'd like to go to Borgata but we're wondering if it would be better to be closer to the Boardwalk just so we're closer to other things.
I've been looking through each Casino's website for what's open and what's not, but I'd just like to know how the experience compares to what you're used to Pre-COVID. Thanks!
submitted by Just got back from Atlantic City yesterday so figured I'd update on the craps conditions there on a Sunday and Monday. I also posted a lot of this in the report COVID minimums post but just figured I'd make my own topic here too in case anyone missed it.
Ocean: Was really surprised by this place. Sunday they had one $10 craps table open for most of the day, along with two $15 tables. The $10 table stayed until pretty late, probably around 10 or 11, when they finally raised it to $15 right before they closed one of the other two tables. Monday afternoon they had two tables open and they were both $10. This is where I was staying so this was a very welcome surprise, I really wasn't expecting to play for less than $15 here. The $10 table did fill up a lot Sunday but the $15 tables Sunday never really filled up, I got a spot at either one whenever I wanted. On Monday afternoon you could play for $10 pretty much any time. I was shooting alone for a long time at one of them.
Ballys: Sunday evening they had two $10 tables open, one in the main casino (the big table with 4 per side; all other tables I encountered were 3 per side) and one in Wild Wild West. The only other table open was a $50 (!) minimum in the main casino, which weirdly was always full every time I walked past it (other than one reserved spot). If you were gonna play a $50 table why wouldn’t you go some place a lot nicer than Ballys?? The big $10 table was full as well but I actually got a spot pretty easily on the WWW table.
Caesars: Sunday evening they had two tables, one $15 and one $25. Both were full.
Resorts: Sunday evening, one table for $15, full.
Hard Rock: Monday afternoon they had two $15 tables, both were pretty empty.
That’s all the casinos I hit on this trip. tl;dr believe it or not, the easiest place to get on a $10 craps table (and blackjack and roulette too) was easily Ocean on Sunday & Monday. Overall I had a surprisingly great time. Everyone was following the mask rules inside the casinos, the dealers were honestly in better spirits than I was expecting (I kinda figured they would be in a grumpy mood having to work during this and I honestly wouldn't have blamed them, but for the most part they really weren't, and some were even trying to joke with players and have a good time which was much appreciated). No free drinks in the casino of course sucked but there were plenty of places open to get outdoor booze, so even that wasn't really a dealbreaker or anything. The plexiglass was for sure annoying and definitely makes it almost impossible to dice set, so that is of course something to keep in mind. But I still had a great time. I hit the Small three times so that may be coloring my outlook here....
submitted by I'm not a conspiracy nut. I think the social distancing and closures are doing good at making sure COVID doesn't run rampant. That being said, Phil Murphy needs to at least acknowledge the unique challenge that Atlantic City is facing. Every weekday I watch the governor's addresses and check the Twitter updates and absolutely nothing for the shore region except when talking about beaches or some fool trying to open his gym/knick knack shop. No sign of life from the DGE, either.
27,000+ workers out of work currently and could potentially out of work entirely if the casinos don't start to see better revenue. The huge growth in revenue from last year is basically wiped out across the board, with a lot of properties still turning around from the last catastrophe. The "busy season" is approaching and hotels don't know whether or not people should make reservations. The reopening plan laid out has no mention of casino gaming/nightlife except in the end stage with "limited entertainment". It would be nice to have some information as to what's happening or going to happen with our area.
End of rant. Stay safe folks.
submitted by Tl;dr just skip to the last paragraph. Consider this background due diligence because the market is closed.
Most of you retards lack an historical perspective on current events, so I’m writing this to give you the bigger picture on the casino and stock market history of the president. If you’re going to waste money it should be spent on recreational drugs and strippers- it stimulates the economy and probably does less long term damage to your net worth. But since this million retard army persists in making dumb bets, I will give you some background about the President because to most of you, the only Grey Lady you know is your own mother.
On May 8th, 2019, the president tweeted, “You always wanted to show losses for tax purposes. . . . [...] and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!” The leader of the free world bragged about losing money, said it was financially advantageous, said it was fun, and also said it was fake.
[The president had some successes- but no one goes on this sub for incremental or sustainable traditional business wins. So as to not sound biased, I will include some of them. Feel free to skip this part. His first “deal” was a purchase by his father in Trump’s senior year of high school. Purchased for $5.6 million plus half a million in renovations, it sold eight years later for $6.75 million. Result- a racial discrimination lawsuit and a $650,000 profit. In “The Art of the Deal”, the president claimed this was a $6 million profit. In 1970, Paris is Out, a Broadway comedy, lost him $70,000- inflation adjusted about half a million dollars today. In 1971, he was made president of the 14,000 apartment owning company, changed the name to the Trump Organization, and was again sued for racial discrimination. In 1978 he was the agent for Penn Central’s sale of the current Javits Center, for which he was paid a commission, and then became the face of the redevelopment of the Commodore Hotel. A $70 million loan guaranteed by his father and Hyatt Hotels, in addition to $1 million revolving credit from Chase bank, financed the renovation- which obtained a 40 year tax abatement. He then went on to build Trump Plaza, which he sold as individually owned apartments- known as a cooperative, in 1981. In 1986, he successfully renovated Wollman Ice Rink on time and three quarters of a million dollars under budget.]
In 1980 building site preparations began at the Trump Tower location. The previous building had some artistically significant architectural details, which were promised to the Metropolitan Museum of Art, and instead were destroyed. The demolition crew was a group of 200 strong "Polish Brigade" immigrants who worked 12 hour shifts. By using illegal labor, the president was able to avoid contributions to the pension fund and union worker welfare fund- the workers were paid $4-$5 per hour. Details are sealed after 16 years in court. Construction began in 1982 on Trump Plaza in Atlantic City, and in the first six months of opening in 1985, made only $144,000 in profit. In 1986 he bought out his partner, Harrahs, for $70 million. During this time he also purchased Trump Marina (ne Castle) for $325 million; this was the property at which his father bought $3.5 million in casino chips and never used, and which he was fined for making an illegal casino loan. In 1988, he bought the Plaza Hotel in New York for $390 million. He said in The New York Times, "For the first time in my life, I have knowingly made a deal that was not economic – for I can never justify the price I paid, no matter how successful the Plaza becomes." Another $50 million in renovations caused the total debt service to be too expensive; the prepackaged bankruptcy resulted in a $250 million dollar loss for creditors and a lowered interest rate in exchange for 49% of the hotel. Three years later the Saudis would buy a controlling stake.
Trump Plaza Casino followed the same game plan as the Plaza Hotel: he owed $250 million and conducted a prepackaged bankruptcy due to sky high debt service. The bankruptcy converted the $250 million into $300 million longer term debt, then went on to conduct a $42 million dollar expansion in 1993, and a $48 million dollar expansion in 1995. It closed in 2018 and the property was foreclosed on by Carl Ichan.
In 1988, he bought and renovated the Taj Mahal for nearly a billion dollars, financed with junk bonds at 14%. When he couldn’t make the payments, the property was again put into a prepackaged bankruptcy. Ironically, the Taj Mahal may have hastened the downfall of other Trump properties by cannibalizing their customers. In the end, the billion dollar casino was sold to the bankruptcy administrator for $890 million, named “Trump Entertainment Resorts”, itself filing for bankruptcy in 2004, 2009, and 2014.
His casino ventures show a reliable pattern of using other people’s money to buy and build, then forcing investors to take a loss while the prepackaged bankruptcies allowed him to keep the assets and the profits. His supporters might say this is common in the casino industry, which isn't true, but he shows this pattern of behavior in the stock market as well. In 1987, at the height of his casino activity, he started a new scam. “He would acquire shares in a company with borrowed money, suggest publicly that he was contemplating buying enough to become a majority owner, then quietly sell on the resulting rise in the stock price…” Media reports at the time claimed his pump and dump gained $55 million; government documents showed his stake was smaller and profits less than $11 million. This one trick pony would work a few times between 1987 and 1989, including in companies such as Gillette, Hilton, and Federated Department stores. By 1989, Wall Street was wise and left him bag holding an American Airlines takeover bid, resulting in a $35 million loss.
More recently WSB’ers will no doubt remember the Dead Sea levels of saltiness caused by accusations of pumping and dumping last year’s trade war with China, and the resulting cycle of market agitations on threats, bad news, counter threats, trade talks, and deals. Finally, Covid-19 has given us hydrochlorique panaceas, and other pump and dumps we’re still learning about.
Tl;dr The president has shown a persistent penchant for profligacy using other people’s money. Most recently to use the federal government to price gouge PPE and to attempt to have his signature on stimulus checks- but he’s been doing it for 40 years. With JayPau, he’s found a real life infinite money hack, and everything I’ve written is to prove to you he isn’t afraid to use it. Keynes said, “the market can stay irrational longer than you can stay solvent” but what we’re seeing today isn’t irrationality, it is the biggest pump and stop stock scam infinite printing we’ve ever seen from a guy who brags about pump and dumps and bankruptcy filings. Your puts wont print, Trump is betting his reelection on it, and the all-in is infinite. Positions- holding all cash. Sell in May and go fuck yourself.
submitted by Current Covid Casino Protocols As of now, these are the protocols for behavior in the Atlantic City casinos (according New Jersey's Covid-19 Information Hub) Guests and employees will be required to wear masks in all public areas; guests will be asked to briefly lower masks for cage transactions for surveillance coverage purposes. Casinos Open, Struggling. Atlantic City’s nine casinos saw their brick-and-mortar gross gaming revenue (GGR) drop 44 percent in 2020. The gaming floors won $1.512 billion last year, a nearly $1 Atlantic City's Borgata Hotel Casino & Spa opened Sunday at 10 a.m. for their grand reopening, although they had a soft opening earlier in the week. Its COVID-19 casino tracker counts 880 casinos currently open and 116 closed, including Philadelphia’s Rivers Casino. In Atlantic City, where casinos were closed altogether for nearly four months, fortunes have varied. Smoking, drinking and eating will all be prohibited when Atlantic City’s casinos reopen after being shut for three months due to the coronavirus outbreak under rules imposed by New Jersey Gov ATLANTIC CITY, New Jersey (WPVI) -- For the first time in 108 days, slot machines beeped, dice tumbled and cards were dealt at Atlantic City's casinos as several reopened Thursday amid a Additionally, Massachusetts has limited hours for its casinos. As of now, Atlantic City casinos are still open for gambling. Murphy might take smaller steps, like shutting down indoor dining, before closing AC casinos altogether. If there’s not a marked improvement in COVID-19 numbers soon, he may have few other choices. Atlantic City casinos are remaining open despite gaming properties in neighboring states being forced to close because of a jump in new COVID-19 cases. ATLANTIC CITY - The gaming floor at Hard Rock Hotel & Casino was abuzz bright and early Thursday morning, signaling the end of a near four-month COVID-19 lockdown for Atlantic City's biggest Atlantic County has 20,437 confirmed cases (499 Deaths). Atlantic City Hotline (833)359-0084. Information on Rental Property & Evictions Under Executive Order 106. NJ COVID-19 Updates (godelivery.com) NJ COVID-19 Updates. COVID-19 Outdoor Dining per NJDOH. New Jersey COVID-19 Small Business Assistance. Temporary Outdoor Dining Information
Hey everyone! We are back in Atlantic City on the northern end of the Boardwalk to check out the Ocean Resort and Casino right after opening during the COVID... This trip we go to Harrah's the last weekend its open before the Corona virus shut down. Watch us experience the casino while hand washing and poker games. P... Terry Glebocki, CEO of Ocean Casino Resort Atlantic City re-open to the public 1987 PBA ShowboatAtlantic City Open held at the Showboat Hotel and Casino in Atlantic City, New Jersey. The first match features David Ozio versus Amleto Mon... #usa #atlanticcity #coronavirusHelp us grow..please subscribe : https://goo.gl/YjnNtnClick on the bell icon to get the notification.Atlantic City is a resort... Two new casino and hotels are opening in Atlantic City. David Danzis talks with Gov. Phil Murphy about the state response to COVID-19 and the future of the casino industry in the state. The newest location for Hard Rock Hotel & Casinos opened in Atlantic City. It boasts a 120,000-sq-foot gaming floor, 20 restaurants, 7 stages for music acts,... Casinos and Boardwalk in Atlantic City, New JerseyAtlantic City is a city in Atlantic County, New Jersey, a resort city in the northeast known for its casino... "Sunday Morning" looks back at May 26, 1978, when the N.J. resort of Atlantic City welcomed legalized gambling with the opening of its first casino.
