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12-04-2014, 12:08 AM
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#1
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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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
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12-04-2014, 04:43 AM
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#2
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Top Horse Analytics
Join Date: Mar 2013
Location: Las Vegas, NV
Posts: 12,303
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Quote:
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Originally Posted by ReplayRandall
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Where's Howard Hughes when you need him? 
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12-04-2014, 04:45 AM
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#3
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Racing Form Detective
Join Date: Jul 2007
Location: Lincoln, Ne but my heart is at Santa Anita
Posts: 16,316
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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.
__________________
Some day in the not too distant future, horse players will betting on computer generated races over the net. Race tracks will become casinos and shopping centers. And some crooner will be belting out "there used to be a race track here".
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12-04-2014, 07:28 AM
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#4
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Veteran
Join Date: Jun 2002
Location: near Philadelphia
Posts: 4,560
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Quote:
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Originally Posted by Augenj
Where's Howard Hughes when you need him? |
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?
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12-04-2014, 07:45 AM
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#5
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Top Horse Analytics
Join Date: Mar 2013
Location: Las Vegas, NV
Posts: 12,303
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Quote:
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Originally Posted by reckless
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?
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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.
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12-04-2014, 11:04 AM
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#6
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Registered User
Join Date: Feb 2012
Posts: 80
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Haven't they been bankrupt before?
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12-04-2014, 11:37 AM
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#7
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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Quote:
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Originally Posted by ThinkingAlways
Haven't they been bankrupt before?
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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?
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12-04-2014, 12:47 PM
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#8
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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Too big to fail.
__________________
Truth sounds like hate to those who hate truth.
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12-04-2014, 12:50 PM
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#9
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Registered User
Join Date: Feb 2014
Location: SouthWest Florida
Posts: 67
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May the Libs could take it over and put some strict regulations in place, oh wait......
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12-04-2014, 12:52 PM
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#10
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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The new citizens can work there at cheaper wages. That'll help the bottom line.
__________________
Truth sounds like hate to those who hate truth.
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12-04-2014, 01:12 PM
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#11
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,773
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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!!!
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12-04-2014, 01:14 PM
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#12
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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For sure, for sure.
They didn't vote, so, replace them with people that will.
__________________
Truth sounds like hate to those who hate truth.
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12-04-2014, 06:50 PM
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#13
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Registered User
Join Date: May 2004
Location: New Hampshire
Posts: 14,471
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Quote:
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Originally Posted by ReplayRandall
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?
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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.
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12-21-2014, 11:06 AM
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#15
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Registered User
Join Date: Jan 2008
Posts: 2,472
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I'm sure it won't affect the bonuses the CEO's receive.
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