Not so long ago, journalists like yours truly, were hailing the early success of the Ladenburg Thalmann Gaming & Casino Investment Fund (GACFX). Unfortunately, since its apogee in the fall of last year GACFX has been in a steep decline, losing roughly a third of its peak value.
As one observer commented, upon bringing this to the attention of S&G, “[It] makes money placed in a piggy bank look like a good investment!”
Your Columbia Sussex moment of Zen: An LVA reader writes, “I understand that the River Palms, Tropicana Express in Laughlin are now owned by the Columbia Sussex Corp. I visit these hotels regularly and have noticed that they are slipping in quality. By that I mean the maintenance, i.e. carpets are worn, rooms need remodeling, buildings need paint, and buffets at both Laughlin properties have declined dramatically.”
Hmmmm … sounds an awful lot like my last visit to the Tropicana Las Vegas.
