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Case Bets: Big debts, cheap eats, 'Believe' stinx up the Sphinx

Posted At : November 3, 2008 03:46 PM | Posted By : D McKee
Related Categories: Station Casinos,The Strip,MGM Mirage,Wall Street

Chapter 11? Maybe not. With certain casino companies entertaining serious talk of bankruptcy, Liz Benston makes the case that there's still enough money trickling along for lenders to prop them up.

On a tangentially related note, the explosion of chain restaurants at locals casinos (third item) has a big money-saving upside, even if it's sending a somewhat downscale message -- particularly when you plunk a TGI Friday's down in $662 million Aliante Station. Locals casinos are having to exercise their ingenuity to re-stimulate foot traffic during the recession and if this move isn't pretty, it's likely to prove effective.

Believe sales plummet. The grim number is here. To add insult to injury, Criss Angel is now being outsold by Danny F. Gans. Yes, Las Vegas' newest show is being outpaced by the stalest one on the Strip. Angel has been an asshat during much of his Vegas stint, but he doesn't deserve that indignity. 

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