Poll

4 votes (16%)
21 votes (84%)

25 members have voted

SOOPOO
SOOPOO
Joined: Aug 8, 2010
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onenickelmiracle
April 18th, 2020 at 9:40:28 AM permalink
Quote: Lovecomps

The thing is that they have a long established business model that produces billions of income a year. It's just going to depend on how they handle their financing. They are carrying over 50 billion in debt between them, almost all of which is in the ships.



I disagree. I think that at 100% capacity a boat may make $1,000,00 per sailing. At 90% capacity it might make $500,000. At 70% it may lose money. No matter how many people on the boat the mortgage for the boat is the same, the Captain is paid the same, the engineer, the show people, etc....
I expect a big contraction in the Cruise industry.
Vegasrider
Vegasrider
Joined: Dec 23, 2017
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April 18th, 2020 at 1:11:47 PM permalink
Will the Nevada resorts eliminate the resort fee once they open to attract more visitors? 6/5 BJ will remain only because 90 % of the players don’t care or even know the difference between the standard pay outs. It will take over a year to get the conventions back in the Vegas cycle again, which the city relies on the most to fill up the hotels and restaurants.

I just hope the Bingo rooms will be dead so I can bingo out most of the games.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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April 18th, 2020 at 2:31:28 PM permalink
I'm told The Fed will bailout everybody but customers.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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AZDuffmandarkozrxwineIndyJeffrey
April 18th, 2020 at 3:27:17 PM permalink
Quote: Vegasrider

Will the Nevada resorts eliminate the resort fee once they open to attract more visitors? 6/5 BJ will remain only because 90 % of the players don’t care or even know the difference between the standard pay outs. It will take over a year to get the conventions back in the Vegas cycle again, which the city relies on the most to fill up the hotels and restaurants.

I just hope the Bingo rooms will be dead so I can bingo out most of the games.



I have it on good authority that all resort fees will be eliminated....



To be replaced by a COVID-19 cleaning fee of the same price......
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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April 18th, 2020 at 5:04:49 PM permalink
Mayor de Blasio says he's begging Trump for a $7 billion bailout and Trump is silent. The mayor says cities and states across the country are doing their budgets at this time and a lack of a bailout means they will all go bankrupt.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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  • Posts: 8459
April 18th, 2020 at 6:04:50 PM permalink
Quote: ChumpChange

Mayor de Blasio says he's begging Trump for a $7 billion bailout and Trump is silent. The mayor says cities and states across the country are doing their budgets at this time and a lack of a bailout means they will all go bankrupt.



All municipalities will be a begging soon..... Sales tax revenue way down. Convention revenue zippo. Health care costs... UP.......

They can't just print money like the Federal Government.....

States and municipalities must actually balance a budget.....

I'd say more but not in the mood for a suspension today....
WatchMeWin
WatchMeWin
Joined: May 20, 2011
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onenickelmiracle
April 18th, 2020 at 8:27:10 PM permalink
I would not put my money into casino stocks, even with them being 50% down since the virus outbreak. There are far greater industries to invest in and let you money work. Think about how casinos will operate in the near future.... less crowds, less seating in restaurants, less entertainment venues and seating, sports betting revenue will shrink... who knows if NFL will play a full season if at all, less travel, social distancing prohibiting normal gaming, etc... the numbers simply cannot and will not be there... in addition to the industry will not trade at the same multiples. Not to mention less disposable income for people to spend due to lack of work. Casino stocks are not in my cards in the near future.

Sticking with Pharma/Biotech, Technology,and Consumer Staples. Just think about what you will be doing more of in the near future. Staying home more... Cable, Food, Video, Computer, Hand lotion.
'Winners hit n run... Losers stick around'
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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April 18th, 2020 at 11:17:52 PM permalink
Cable companies be raising their prices while tens of millions cut their cords. I'm expecting entire networks to go out of business to keep the cable bills down.
IndyJeffrey
IndyJeffrey
Joined: Feb 10, 2013
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April 19th, 2020 at 7:07:36 AM permalink
Quote: ChumpChange

I'm expecting entire networks to go out of business to keep the cable bills down.



They would go out of business if we could pick and choose what we wanted to subscribe. And I don't count the current environment of streaming services the ability to pick and choose what I want to watch. It's closer, but not there yet.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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August 28th, 2020 at 10:09:49 AM permalink
MGM Resorts lays off 18,000 previously furloughed employees
PUBLISHED FRI, AUG 28 2020 11:00 AM EDT
https://www.cnbc.com/2020/08/28/mgm-resorts-sends-separation-letters-to-18000-furloughed-employees.html

MGM Resorts lays off 18,000 amid pandemic
MGM Resorts International said Friday it is sending separation letters to 18,000 U.S. employees who were furloughed during the coronavirus pandemic, making their job cuts permanent for now.

MGM’s Empire City remains closed in New York state, as does its Park MGM in Las Vegas. Casinos in Las Vegas, where MGM has an outsized presence on the Strip, continue to be especially affected by declines in tourism and travel, restrictions on capacity, the lack of fans at sports events, and negligible conference and group business.

At the start of this year, the company employed 70,000 workers in the U.S.

“Nothing pains me more than delivering news like this,” CEO Bill Hornbuckle wrote in the separation letter to employees. “The heart of this company is our employees and the world-class service you provide. Please know that your leadership team is working around the clock to find ways to grow our business and welcome back more of our colleagues.”

The company said it will extend health benefits for furloughed employees until Sept. 30. It’s promising workers who are recalled before the end of the year that they will retain their seniority.

Federal law requires workers to be given a separation date if they’re furloughed for longer than six months. Aug. 31 marks six months of administrative separation for the furloughed MGM employees.

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