Kirk Kerkorian is offering $55/share for additional MGM Mirage shares, which basically tells those predicting the death of Las Vegas to go fuck themselves. Just about every Las Vegas Casino stock is up nicely today. Kerkorian is overing a 12% premium to the previous day’s trading price. That’s right, he is paying 12% ABOVE market value.

When looking for sentiment, always follow the money, and always look for people who put their money where their mouth is.

When someone predicts the demise of Las Vegas, and does so without shorting or selling casino stock … then their opinion is worth what they are paying for it. Nothing. The smoking ban is going to kill the city, Macau is going to kill the city, blah blah blah. Talk is cheap. Actually, it’s free.

Money talks, bullshit walks.

And money just spoke ($825 Million of it to be exact), and that money just said that half of the Vegas Strip was 12% undervalued and would probably become more valuable in the near future.

The next time some yapping head rings the death bell for Las Vegas yet again, ask them how much money they are putting on it.

You would be surprised at the lack of conviction in these periodic declarations.