Jason Ader

Right now, I think Hilton has clearly put a wrench in the process by offering $70 per share.

Right now, I think Hilton has clearly put a wrench in the process by offering $70 per share.

The hotel business is on fire. I mean, you look at every major city, and the Four Seasons continues to read more

The hotel business is on fire. I mean, you look at every major city, and the Four Seasons continues to widen its gap over Ritz-Carlton and other premium brands that are out there. But the reality is, you know, the stock is trading at a huge valuation multiple, over 20 times cash flow.

It's a very exciting deal that's good for Mirage's shareholders. This will change the face of the gaming industry.

It's a very exciting deal that's good for Mirage's shareholders. This will change the face of the gaming industry.

We definitely expected more consolidation in the industry, although it is always hard to imagine a deal of this magnitude. read more

We definitely expected more consolidation in the industry, although it is always hard to imagine a deal of this magnitude. Mirage's management has underperformed and the stock has languished recently, making it a great opportunity for MGM Grand. But this will have to be a friendly deal if it has a shot of working.

MGM is very deliberate. They are not going to do a deal that isn't immediately accretive to earnings per share. read more

MGM is very deliberate. They are not going to do a deal that isn't immediately accretive to earnings per share. Harrah's, on the other hand, has done deals that aren't accretive.