Tonight on CNBC's MAD MONEY, Jim Cramer was in the mood to do a little gambling, and explained his positive outlook on Trump Entertainment Resorts, Inc. (NASDAQ:TRMP). Cramer has been behind the casino stock last year when it was $16.85, but now it is $22.05.It has $4 to $5 upside from here. Next week the company is presenting in Pennsylvania to build a casino in Fairmount Park, in Philadelphia. He thinks the decision will come in December and it has a better than 50/50 chance of being approved. Public sentiment should drive it up, and the news potential just isn't in the stock. He loves the gambling and gaming sector because the house always wins. He likes the remodelled resort and add-on project. The new CEO has brought in technology to get more out of customers. He said this is not a Vegas or Macau play, but it is in Atlantic City and A.C. has been making a big comeback. Cramer said a partnership with WYNN was sort of denied. The new casino being built close to it is actually good rather than bad.
There is also a real estate shortage in A.C., and TRMP owns a lot land around there. Cramer thinks that TRMP is worth $24 for the casino alone, Philly is worth $4 to $5 if it goes through, and the rest of land is worth $4 to $5 so the entire worth of the company is $32 to $34 per share to him. Cramer did say that you have to be very careful and you can only buy on pullbacks because it is thin volume and will run up too much if evryone piles in.
TRMP closed up 0.3% at $22.05 in normal trading, but it went up 4% to $22.95 in after-hours.
[Photo LeLuMus]
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Reader Comments (Page 1 of 1)
11-11-2006 @ 9:47AM
oz said...
i want a 24h day nudist channel with nudist game shows
11-11-2006 @ 10:11AM
Michael Schneider said...
Cramer is worth listening to on Atlantic City as AC has been somewhat overlooked with all the focus on Vegas and Macau. Atlantic City is in fact sprucing up according to a CNBC report this summer posted at www.Barreloworld.com along with some analyst recommendations on stocks in AC. A man of leisure, Cramer has recommended at least 35 leisure stocks in his Lightning Rounds and you can find the free list also at Barreloworld. This seems like a good time to bet with Cramer on Trump Entertainment as gaming stocks are back in big time vogue-- a risk is latest reports of a coming terror attack in Britain where 5 plots have been foiled since the last attack-- anything like that could bring stocks connected with travel down.
11-12-2006 @ 11:53AM
jim said...
I would be fun if Donald put all of his wealth into one company and went public with it. The Trump Entertainment company is just a tiny bit of what Trump is about.
12-21-2006 @ 9:42PM
ADDAM BONGG said...
OH, AND THE STOCK, TRMP... SELL IT AND THEN SELL IT SHORT!!! THE STOCK TOTALLY EATS SHIT NO MATTER HOW MUCH TRUMP PUMPS IT. JUST DUMP IT!!! HEY DONALD!!!COCKSUCKER!!! PUMP MY COCK!!!(*j*)AND LEAVE THE LITTLE GIRLS ALONE... OK GOOGLE GOOGLE GOOGLE ADDAM BONGG
12-21-2006 @ 9:58PM
ADDAM BONGG said...
DEAR FANS, HERE ARE A FEW HEALTHY ALTERNATIVES TO THAT SICK BLOATED PIECE OF DOGCRAP TRMP... MPEL, PACT, UBET, LVS, MGAM OR ANY OTHER GAMING STOCK. IT'S JUST A MATTER OF TIME UNTIL TRUMP GETS NAILED FOR SOME CORRUPTION OR OTHER. GOOGLE GOOGLE GOOGLE ADDAM BONGG: dESKpOP (VOLUMES 1 & 2) PS I'M RELEASING AT LEAST 10 NEW CDs IN 2007, SO STICK WITH ME AS I EXPOSE MORE CREEPS FOR YOUR PERUSAL.
12-21-2006 @ 10:56PM
ADDAM BONGG said...
LOL I CAN'T RESIST... TRUMP IS A MORON... A BIGOTED, SELFSERVING, MONEYGRUBBING, SKYLINE POLLUTING, HAIR DYEING, SADDAM LOVING, PRESIDENT ENVYING, TROOP HATING, WOMAN ABUSING, 911 EXPLOITING, BOOZE PUSHING, COWARDLY, BAD BREATH MORON. HIS STOCK TRMP IS SLOWLY SINKING AND IF YOU BUY IT... WELL, YOU'RE WASTING YOUR MONEY. BESIDES, MOST STOCKS ARE A LOSS OVER THE LONG HAUL, SO IF YOU'RE HAVING SOME ILLUSIONS ABOUT GETTING RICH WITH TRMP... GET A LIFE !!! GOOGLE GOOGLE GOOGLE ADDAM BONGG SAVE YOUR MONEY
12-21-2006 @ 10:57PM
ADDAM BONGG said...
AIN'T THIS A PISSER, HOW I PRACTICALLY HAVE THE TRMP MESSAGE BOARD ALL TO MYSELF ON THIS BEAUTIFUL EVENING? I FEEL GOOD!!! SO LEMME JUST SAY I WOULD NEVER BUY THE STOCK TRMP... THE FUNDAMENTALS DON'T GEL... TOO MUCH DEBT... THE CHART LOOKS TERRIBLE... THE MAN BEHIND THE NAME IS A RETARD... NOTHING ABOUT THE STOCK LOOKS GOOD... I THINK JIM CRAMER IS PROBABLY WRONG ON THIS ONE. I THINK IT'LL GO THE WAY OF TRUMP AIRLINES... ROFL!! HEY JIM!!! HAPPY CHANUKAH!!! DOES MY CHRISTMAS TREE OFFEND YOU? I HOPE NOT. ANYWAY, HAVE A HAPPY BOO-YAH 2007 SKI-DADDY!!! AND LOOK FOR ME ON THE WEB 'CAUSE "I'M FROM MARS, I'M A SPACEMAN... "
12-21-2006 @ 11:13PM
ADDAM BONGG said...
THE DONALD... DONALD TRUMP HAHAHAHAHAHAHAHAHAHAHAHAHA LMFAOL... WHAT A DOOFUS! WHAT A BUFOON!! WHAT A BIG FOOL!!! WHAT A DISGRACE!!!! THE DONALD LOVES HIMSELF OBVIOUSLY LOL... SOMEBODY, PUH-LEEEEAZZZ SHUTT THAT JERK UP!!!!! "THE APPRENTICE" IS ALL ABOUT ADVERTISING TRUMP AND HIS SPONSORS AT THE EXPENSE OF HUMILIATED CONTESTANTS. I'VE SEEN THE SHOW. IT'S A STONE BORE.