{"id":15794,"date":"2015-03-30T11:34:12","date_gmt":"2015-03-30T19:34:12","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15794"},"modified":"2020-12-28T08:14:41","modified_gmt":"2020-12-28T16:14:41","slug":"dr-lovemans-voodoo-reid-hangs-it-up","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/dr-lovemans-voodoo-reid-hangs-it-up\/","title":{"rendered":"Dr. Loveman’s voodoo; Reid hangs it up"},"content":{"rendered":"

Despite having wrought havoc upon Caesars Entertainment<\/strong>, Chairman Gary Loveman<\/strong> — looking alarmingly puffy and ill — manages to still find himself taken seriously<\/a> as a talking head. He gave CNBC<\/strong> a dosage of his usual spin-doctoring. This includes one of Loveman’s most remarkable traits: His ability to discuss disasters at least partly of his own making as though they were committed by\u00a0someone else. Here, diagnosing the ills of Atlantic City<\/strong>, where he’s closed two casinos, he says “You had what was a regional monopoly in Atlantic County<\/strong>, New Jersey<\/strong>\u00a0exposed to a tremendous influx of supply and locations that were proximate to where people had lived who had heretofore gone to Atlantic City.”<\/p>\n

You mean an “influx of supply and locations” that would include Harrah’s Philadelphia<\/strong> and Horseshoe Baltimore<\/strong>? Naaaaaaah! To hear Loveman tell it, he’s never to blame.<\/p>\n

Caesars does appear to be bringing more senior creditors into the fold<\/a> of its planned restructuring. In a sweet deal, they would get cash, extended repayment guarantees and a 1:1 \"CAESARS-ENTERTAINMENT-LOGO\"<\/a>exchange of newly issued securities. Junior creditors have to be broiling at the sweet courtship that senior ones are receiving.<\/p>\n

Less intelligent — downright counterproductive, in fact — is Caesars’ heavyhanded treatment of advantage players like poker pro\u00a0Joe Stiers<\/strong>. He was 86’d from Horseshoe Baltimore, setting off a chain of consequences that includes being barred from the World Series of Poker<\/strong>. Horseshoe has been particularly vigorous about trespassing advantage players<\/a> from its properties. Stiers alleges that Horseshoe continued marketing to him after his banishment. Maryland Live<\/strong> is also accused of getting rough with card counters but the bulk of the accusations fall on Caesars, whose\u00a0motto seems to be “Horseshoe: Where the house always wins — or else.”<\/p>\n

* During a week in which he was accused of exerting undue pressure<\/a> on behalf of SLS Las Vegas<\/strong>, Sen. Harry Reid<\/strong> (D) decided that 34 years on Capitol Hill<\/strong> were enough<\/a>. \"harryreid_t178\"<\/a>American Gaming Association<\/strong> President Geoff Freeman<\/strong> went into something of a freak-out, calling for a plethora of pro-gaming candidates to rise up and run in the next election cycle. Here in Nevada<\/strong>, all the probable contenders — from both parties — are casino-friendly. Of course, one party or another could mess things up by nominating an anti-gambling dingbat, as the GOP did with Sharron Angle<\/strong> in 2010. It’s unlikely but it’s happened before.<\/p>\n

* Fainthearted to the core, Japan<\/strong>‘s Liberal Democratic Party<\/strong> has delayed pro-casino legislation yet again and may not address it until August<\/a>. Delay seems the only certainty in this constipated process.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite having wrought havoc upon Caesars Entertainment, Chairman Gary Loveman — looking alarmingly puffy and ill — manages to still find himself taken seriously as a talking head. He gave CNBC a dosage of his usual spin-doctoring. This includes one … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,70,174,7,52,140,171,72,95,33,17,132],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15794"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=15794"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15794\/revisions"}],"predecessor-version":[{"id":28991,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15794\/revisions\/28991"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}