100xOdds
100xOdds
Joined: Feb 5, 2012
  • Threads: 543
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August 26th, 2016 at 6:33:56 PM permalink
http://www.marketwatch.com/story/judge-denies-caesars-litigation-reprieve-in-bondholder-battle-2016-08-26-18103195?link=MW_latest_news

Caesars Entertainment Corp. must face bondholders in a multibillion-dollar legal battle that will play out in the coming days, a federal judge ruled Friday.

Caesarsí bankrupt operating unit has previously been able to protect its parent company from bondholder litigation demanding that Caesars CZR, -13.01% honor more than $11 billion in guarantees of the unitís debt.


so caesars owes $11B?
since it declared bankruptcy, the bondholders went after Caesar's parent company for the $11B?

why would the parent company be liable for bonds for it's subsidiary?
thought that was why companies create subsidiaries-> to shield the parent?
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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August 26th, 2016 at 7:16:14 PM permalink
They did it in a very very very shady spin off structure
No longer hiring, donít ask because I wonít hire you either
mrsuit31
mrsuit31
Joined: May 29, 2010
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August 26th, 2016 at 8:32:36 PM permalink
Didn't they just get approved to open a new resort in Toronto?
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gamerfreak
gamerfreak
Joined: Dec 28, 2014
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August 26th, 2016 at 8:40:12 PM permalink
I really don't understand how casinos have all these money problems. They literally have the best business model in the world. We give them money and they give us less money back.
mrsuit31
mrsuit31
Joined: May 29, 2010
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August 26th, 2016 at 8:56:12 PM permalink
Quote: gamerfreak

I really don't understand how casinos have all these money problems. They literally have the best business model in the world. We give them money and they give us less money back.



I'm sure you understand that it is a little more complex than that...
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gamerfreak
gamerfreak
Joined: Dec 28, 2014
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August 26th, 2016 at 9:40:51 PM permalink
Quote: mrsuit31

I'm sure you understand that it is a little more complex than that...


Slightly... But so many other industries would kill for a business model like that. Literally their only job is to put in place money making machines and not f%%k it up. Yet they f@@k it up every time.
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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August 26th, 2016 at 9:44:11 PM permalink
I don't feel for the casinos- but you really have to look deeper then that- how bout places like New York that give 70. Yes 70 percent off the top to the government

Pa is 50 some percent - that's before costs
No longer hiring, donít ask because I wonít hire you either
DeMango
DeMango
Joined: Feb 2, 2010
  • Threads: 29
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August 26th, 2016 at 9:55:05 PM permalink
Quote: gamerfreak

I really don't understand how casinos have all these money problems. They literally have the best business model in the world. We give them money and they give us less money back.



They are just as greedy as you. So they borrow money and buy overpriced casinos and lose more money than you pay them. -EV gets you, debt servicing gets them.
When a rock is thrown into a pack of dogs, the one that yells the loudest is the one who got hit.
RoyalBJ
RoyalBJ
Joined: Jul 18, 2011
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August 26th, 2016 at 9:56:42 PM permalink
CZR will drop big time or Monday???
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 265
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August 26th, 2016 at 11:00:16 PM permalink
Quote: Wizardofnothing

They did it in a very very very shady spin off structure

They did EVERYTHING in a very shady manner ever since they shafted a partner in the development of the original Marina casino site in Atlantic City.

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