Caesars Entertainment near Bankrupt
 

Caesars Entertainment, who owns most of the middle of the Las Vegas Strip, could be careening toward a bankruptcy that could reshape Las Vegas.


http://www.fool.com/investing/genera...soon-be-b.aspx

Where's Howard Hughes when you need him? :D

Only in the wonderful world of leveraged buyouts could a casino go broke. Outside of New Jersey that is. It just go to show you that you can screw up a really good thing. The casino business is still going strong. It is the buying and selling of them that is in trouble.

Smiles aside, you made a real good point, actually.

So allow me to add: where's Bugsy Siegel when you need him?

Las Vegas thrived when both the smart, tough individuals along with the smart, strong-armed boys ran the casino business.

Today, the wimps, wonks and wannabes -- the hedge fund financiers, the lawyers and the Harvard MBAs -- think they know where the keys to the kingdom are located.

Caesars and the ongoing disaster in Atlantic City prove otherwise, don't they?

Agreed. There are many CEOs in this country who have created leveraged gains in companies and bailed out with their pot of gold, leaving behind companies with a bleak, debt-laden future. Greed is good? I think not, at least for those left behind.

Haven't they been bankrupt before?

Don't think so, but the United States has:

The United States went "Bankrupt" in 1933 and was declared so by President Roosevelt by Executive Orders 6073, 6102, 6111 and Executive Order 6260, [See: Senate Report 93-549, pgs. 187 & 594 under the "Trading With The Enemy Act" [Sixty-Fifth Congress, Sess. I, Chs. 105, 106, October 6, 1917], and as codified at 12 U .S.C.A. 95a.

What do you think the chances are now, with the US currently $18 Trillion in debt? If not soon, where's the limit or tipping point?

Too big to fail.

May the Libs could take it over and put some strict regulations in place, oh wait......

The new citizens can work there at cheaper wages. That'll help the bottom line.

you mean all those Harry Reid voters who clean the rooms and carry bags for guests will be out of work?

can't happen??? No way!!!

For sure, for sure.

They didn't vote, so, replace them with people that will.

We will remain intact as long as everyone else is stuck in the poop. There will be continued food price creep, ugly is just around the corner.

It's not just Caesar's that's in trouble. Look at the mess Dubai World is in:

http://www.fool.com/investing/genera...ns-gambli.aspx

I'm sure it won't affect the bonuses the CEO's receive.