AC Assemblyman fears Ballys,Caesars closing
February 5th, 2015 at 2:11:32 PM
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So...I have been concerned about this also- but what's a hearing going to do?
Even if CZR admitted their plan would likely close Bally's & Caesars- what could be done about it?
It's not like any buyers are banging down the door to scoop up older AC properties?
"Assemblyman Chris Brown says he is concerned about the fate of Caesars Entertainment's two Boardwalk casinos, and wants state regulators to hold a public hearing on the financial health of the company...In a letter sent Wednesday to the state Division of Gaming Enforcement, Brown said he is concerned by an allegation that Caesars improperly transferred assets among various units in an effort to place choice properties - including Harrah's Resort - out of the reach of creditors while less-desirable ones - including the Boardwalk casinos– remain in the bankrupt, debt-mired Caesars Entertainment Operating Co.
"Caesars has the right to mange its finances; however, if the allegations are true, Caesars may have set up two of its Atlantic City properties for closure through the bankruptcy process,"
http://www.pressofatlanticcity.com/news/breaking/worried-about-caesars-and-bally-s-assemblyman-brown-wants-hearing/article_5bb8f790-ad75-11e4-bee8-5fba711e9fbe.html
Even if CZR admitted their plan would likely close Bally's & Caesars- what could be done about it?
It's not like any buyers are banging down the door to scoop up older AC properties?
"Assemblyman Chris Brown says he is concerned about the fate of Caesars Entertainment's two Boardwalk casinos, and wants state regulators to hold a public hearing on the financial health of the company...In a letter sent Wednesday to the state Division of Gaming Enforcement, Brown said he is concerned by an allegation that Caesars improperly transferred assets among various units in an effort to place choice properties - including Harrah's Resort - out of the reach of creditors while less-desirable ones - including the Boardwalk casinos– remain in the bankrupt, debt-mired Caesars Entertainment Operating Co.
"Caesars has the right to mange its finances; however, if the allegations are true, Caesars may have set up two of its Atlantic City properties for closure through the bankruptcy process,"
http://www.pressofatlanticcity.com/news/breaking/worried-about-caesars-and-bally-s-assemblyman-brown-wants-hearing/article_5bb8f790-ad75-11e4-bee8-5fba711e9fbe.html
February 5th, 2015 at 2:19:39 PM
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Bullshit self-serving corrupt politics, gossip, garbage talk, pay-offs/bribes, taking care of the family members, what-if's, and general bull crap are the fore front of Jersey politics. There is lots to talk about in AC and even more to do and get done and fixed, however in Jersey the former is the one that's concentrated on the most.
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)
February 5th, 2015 at 2:59:45 PM
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Under Caesar's bankruptcy Caesar's would be split into two corporations. One would manage the casino-hotels. The other would raise money through sale of stock. The former will be paying the latter "rent."
It is estimated that Bally's would not be able to afford this payment and be forced to close.
Caesar's on the boardwalk would certainly pick up some business from Bally's.
At THIS TIME, Caesar's on the boardwalk is actually doing rather well. Bally's after the restructuring may be in trouble in the not to distant future.
It is estimated that Bally's would not be able to afford this payment and be forced to close.
Caesar's on the boardwalk would certainly pick up some business from Bally's.
At THIS TIME, Caesar's on the boardwalk is actually doing rather well. Bally's after the restructuring may be in trouble in the not to distant future.
