Vegas Free-for-All - CET IS 20 BILLION In Debt!

BAGIANT

Feb 5, 2013
1:27am

Block User

Here's the link!

www.lvrj.com/business/caesars...189727921.html

Roulette Man

Feb 5, 2013
2:48am

Block User

I remember when it was Harrah's and how they kept on purchasing more hotel properties and accumulated more debt. Their CEO is supposed to be a Harvard MBA. I know of no business model that would support running a corporation this way.

rayxtwo

Feb 5, 2013
3:38am

Block User

They already sold off their casino it St. Louis last summer (YEAAAAAAA!!!). Maybe they'll have to start selling off some of the strip hotels to come up with some more cash to pay off their debt.

Ray

Roulette Man

Feb 5, 2013
3:47am

Block User

Quote

Originally posted by: rayxtwo
They already sold off their casino it St. Louis last summer (YEAAAAAAA!!!). Maybe they'll have to start selling off some of the strip hotels to come up with some more cash to pay off their debt.

Ray

Agreed. I don't like two corporations owning like 80% of the strip casinos, just like I don't like there only being two or three airlines. This is how they can get away with 6 to 5 blackjack, because there is collusion and no competition.

Roulette Man

Feb 5, 2013
7:18am

Block User

I see from today's LVA shorts that they will be floating 9% notes (also known as junk bonds). Of course the higher the risk, the higher the yield. 9% in today's times is almost off the charts.

jatki

Feb 5, 2013
7:34am

Block User

9% is definitely pretty juicy, I believe that's almost on par with greek bonds right now. I remember when Trump financed a lot of his holdings in AC with junk bonds that were paying like 25%, but those were the days of 9-10% CDs' as well. Wasn't M. Milken the guy who started the whole junk bond craze? I was just a lowly college puke aroumd that time, so memory might be a little off, it was a long time ago.

J

BAGIANT

Feb 5, 2013
7:56am

Block User

I remember when Harrah's owned the whole strip from Imperial Palace down to the Flamingo, and then bought the properties behind them on Koval. The only thing standing in their way was the Barbary Coast which Boyd owned. Boyd finally caved in and traded the Barbary for the property that the Westward Ho had been on before being demolished. But in those days, the "Echelon" was still a work in progress so they could expand to that property. What a waste it was tearing down the Stardust!

They thought that they would do to that part of the strip(IP to Barbary) what MGM was doing to the City Center. We can all look back and say, "those were the days"! Anyone think the Echelon will ever be an up and running hotel/casino?

Roulette Man

Feb 5, 2013
8:04am

Block User

Quote

Originally posted by: BAGIANT
I remember when Harrah's owned the whole strip from Imperial Palace down to the Flamingo, and then bought the properties behind them on Koval. The only thing standing in their way was the Barbary Coast which Boyd owned. Boyd finally caved in and traded the Barbary for the property that the Westward Ho had been on before being demolished. But in those days, the "Echelon" was still a work in progress so they could expand to that property. What a waste it was tearing down the Stardust!

They thought that they would do to that part of the strip(IP to Barbary) what MGM was doing to the City Center. We can all look back and say, "those were the days"! Anyone think the Echelon will ever be an up and running hotel/casino?

No. The Echelon is what I voted as being a pipedream in the latest LVA poll.

Blade

Feb 6, 2013
1:00am

Block User

Taking out the loose slots and good VP pay schedules is back firing on them.

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