When I said a Caesars Entertainment bankruptcy was a matter of when, not if, little idea did I have how soon that might be. Earlier this week, Fitch Ratings Service lowered Caesars’ bond rating to “negative,” a veritable kiss of death for the company that carries $19.9 billion in debt. CEO Gary Loveman “could look to execute transactions that Fitch views as a default,” wrote a Fitch analyst. Or, it could try to build a life raft in the form of an IPO or spinoff of Caesars Interactive, which includes the World Series of Poker. The Motley Fool, however, thinks the short-term gains are far outweighed by the long-term sacrifice. Yours truly thinks the domestic revenue prospects from online gambling are Continue reading
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After seemingly endless previews (months of them, I believe), Sirc Michaels Productions has folded its second V Theater show,
For reasons unknown (Red Chinese hackers?), Internet access last Thursday and Friday came in three forms: slow, slower and nonexistent. Hence, no S&G for two days. (My outdated Mac at home no longer supports the home page either.) So for those of you — and there have been quite a few — petitioning for an S&G take on Prince Harry‘s
Call me Nostradamus: As Hurricane Isaac
As Hurricane Isaac forced the closure of 18 casinos in Louisiana and Mississippi (including the Silver Slipper [left]) and casino-expansion measures in Illinois and Michigan came to a head, what story did the American Gaming Association deem its highest priority today? You’ll never guess. “Fifth Street to Manage Two Siegel Group Casinos.” Yes, a rinky-dink management deal covering
Now that Harmon Hotel has a date certain with the wrecking ball, what will arise in its place? Phil Hevener provides a strong hint in the latest edition of Gaming Today (Motto: “News That You Can Bet On!”). MGM Resorts International, Hevener reports, “has big plans … that will provide improved visibility” for CityCenter, “where first time visitors sometimes find it difficult to tell one front door from another.” (True that.) He then segues into an amusing encounter with a Vegas newbie who, seeking CityCenter, went to The Cosmopolitan of Las Vegas by mistake. Inexplicably tenured
today seems like nothing more than sitting back and being entertained.” — Neil Armstrong (1930-2012), 

“I must have missed that lecture in school.” — Rep. Joe Heck (R-NV) on senatorial aspirant Todd Akin‘s 

VegasChatter and S&G also have a slight difference of opinion regarding the likelihood of Caesars Entertainment finishing its Ferris while out back of what used to be O’Shea’s. While Howard Bulloch‘s erection — officially called SkyVue — makes the more impressive sight, VegasChatter sees modest evidence of activity and, digging more deeply,
Sheldon Adelson couldn’t do it but Las Vegas Sun Publisher Brian Greenspun could. The hard-money-lending business in Las Vegas is a dodgy, high-risk one at the best of times and close scrutiny of it by Sun-related publications is especially touchy. Months of investigation by yours truly into Vestin Mortgage (which