We're all looking at Disney's numbers and particularly what they said about weakness in the current quarter and it's got the investment community spooked about a decline in demand overall.

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

They believe in their heart of hearts that their comprehensive plan is going to do more than Hilton's $70 per share.

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.

I wouldn't be surprised if we are talking about an offer from Harrah's on Monday. The real question is, who can get the most synergies out of Mirage's business? I still believe MGM is the best match.

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