{"id":474,"date":"2009-05-05T13:53:00","date_gmt":"2009-05-05T21:53:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/5\/5\/Harrahs-takes-out-the-garbage-Yemenidjians-return"},"modified":"2009-05-05T13:53:00","modified_gmt":"2009-05-05T21:53:00","slug":"harrahs-takes-out-the-garbage-yemenidjians-return","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/harrahs-takes-out-the-garbage-yemenidjians-return\/","title":{"rendered":"Harrah's takes out the garbage; Yemenidjian's return"},"content":{"rendered":"

Congratulations — I think — to new Harrah's Entertainment<\/strong> General Counsel Timothy R. Donovan<\/strong>. A graduate of The<\/em> Ohio State University, Mr. Donovan comes to Harrah's by way of the garbage industry<\/a>. Considering that picking up the trash around Harrah's properties has sunk to a very low order of priority, maybe he can put CEO Gary Loveman<\/strong> in touch with an affordable waste-disposal provider. In any event, bringing a veteran of the garbage-removal business into a trashed company is priceless in its symbolism.<\/p>\n

\"\" The man who wouldn't leave<\/strong>. In case you hadn't heard, not only is the bankruptcy auction for the long-suffering Tropicana Atlantic City<\/strong> expected to drag into the summer, that won't be the end of Gary Stein<\/strong>'s dilly-dallying trusteeship. No, not by a long chalk! After all, the new buyer will have to be vetted by the New Jersey Casino Control Commission<\/strong>, which means that Stein's sinecure will become a two-year gig, extending into December … at least.<\/p>\n

In the meantime, the splitting of Tropicana Entertainment<\/strong> into components that can be termed "Las Vegas" and "Everything Else" continues apace. It's being underwritten by $150 million from Carl Icahn<\/strong>. But there are limits to Icahn's generosity, as his loan comes attached with a 15% interest rate.<\/p>\n

Remember how S&G<\/em> predicted<\/strong> that transfer of management of the Tropicana Las Vegas<\/strong> to former MGM Grand<\/strong> boss Alex Yemenidjian<\/strong> looked like the start of a sale. Sho' nuff<\/a>! Yemenidjian's backers, Canadian Onex Corp<\/strong>. will control the majority of the board. The LV Trop has been a manifestly low priority for TropEnt CEO Scott Butera<\/strong>, who been's primarily fixated on Atlantic City (and secondarily on Indiana<\/strong>). A shift of directorship to a company whose first and only priority will be Las Vegas is to be welcomed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Congratulations — I think — to new Harrah's Entertainment General Counsel Timothy R. Donovan. A graduate of The Ohio State University, Mr. Donovan comes to Harrah's by way of the garbage industry. Considering that picking up the trash around Harrah's … 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":[48,23,28,7,68,25,9,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/474"}],"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=474"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}