GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
March 19th, 2019 at 3:40:21 AM permalink
Carl ICAHN seems to be trying to buy CET. He has always had a large stake but he just buy 2% more. It appears that he is trying to buy more. It appears that he may be able to get a 2nd seat on the board as well with this round of buying. He has been known flip companies. I am wondering if he is going to try to sell off some of the properties. Current board seems like they were trying to buy as much as possible and be the largest. ICAHN would rather be smaller. May get interesting for them.. well and us that have made vacations based on CET comps.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
AZDuffman
AZDuffman
  • Threads: 240
  • Posts: 13885
Joined: Nov 2, 2009
March 19th, 2019 at 4:22:22 AM permalink
I would hope that he would try to break it up so we get more competition in the industry. I doubt that happens.

Look for him to try to squeeze operational efficiency. Maybe break off a REIT and let it own the land and rent it to the casinos. That could unlock huge value.
All animals are equal, but some are more equal than others
GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
March 19th, 2019 at 4:37:58 AM permalink
Quote: AZDuffman

I would hope that he would try to break it up so we get more competition in the industry. I doubt that happens.

Look for him to try to squeeze operational efficiency. Maybe break off a REIT and let it own the land and rent it to the casinos. That could unlock huge value.



maybe.. but I have been happy with the current system. I may be alone on that but I have been able to get free rooms and no resort fees for approx 14 trips over the last 5 years. My largest year in tier points was last year at 2100. I don't care if they are doing 6/5 BJ or terrible VP or limited free drinks. With local gambling I barely care about playing when I come out. In May for the spring fling I will be at Planet Hollywood for 4 nights all free. I will probably not gamble at all except for if the group plays a little together.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
unJon
unJon
  • Threads: 14
  • Posts: 4574
Joined: Jul 1, 2018
March 19th, 2019 at 4:52:37 AM permalink
Quote: AZDuffman



Look for him to try to squeeze operational efficiency. Maybe break off a REIT and let it own the land and rent it to the casinos. That could unlock huge value.

That’s already the existing structure.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
AZDuffman
AZDuffman
  • Threads: 240
  • Posts: 13885
Joined: Nov 2, 2009
March 19th, 2019 at 5:31:07 AM permalink
Quote: unJon

That’s already the existing structure.



I'm unfamiliar. Are you saying that there is a publicly traded REIT that owns the land and I could buy stock just in it?
All animals are equal, but some are more equal than others
AZDuffman
AZDuffman
  • Threads: 240
  • Posts: 13885
Joined: Nov 2, 2009
March 19th, 2019 at 5:38:05 AM permalink
Quote: GWAE

maybe.. but I have been happy with the current system. I may be alone on that but I have been able to get free rooms and no resort fees for approx 14 trips over the last 5 years. My largest year in tier points was last year at 2100. I don't care if they are doing 6/5 BJ or terrible VP or limited free drinks. With local gambling I barely care about playing when I come out. In May for the spring fling I will be at Planet Hollywood for 4 nights all free. I will probably not gamble at all except for if the group plays a little together.



Great work working the system. I won't ask any secrets to where you are getting the points. Just call me the flipside. We would have better rules if there were more than 3 real competitors on the Strip. I have no Vegas plans in the near future as I can now do anything there without leaving here. I'm too old to go out there and work a daily comp and freeplay route. But I would prefer the innovations and hospitality of the earlier eras.
All animals are equal, but some are more equal than others
beachbumbabs
beachbumbabs
  • Threads: 100
  • Posts: 14260
Joined: May 21, 2013
March 19th, 2019 at 5:58:16 AM permalink
Quote: GWAE

Carl ICAHN seems to be trying to buy CET. He has always had a large stake but he just buy 2% more. It appears that he is trying to buy more. It appears that he may be able to get a 2nd seat on the board as well with this round of buying. He has been known flip companies. I am wondering if he is going to try to sell off some of the properties. Current board seems like they were trying to buy as much as possible and be the largest. ICAHN would rather be smaller. May get interesting for them.. well and us that have made vacations based on CET comps.



Icahn secretly bought in until he had more than 10% a couple weeks ago, then acquired (snapped up) enough to have over 15%, which gave him control of the company. He installed 4 of his people on the board, forcing out 2 current members, and taking over 2 positions whose terms end soon.

He hasn't yet announced his plans. However, I think n there's going to be a problem in AC, because he will have control of too many properties there by percentage.

And, yeah, CET has 3 companies last I heard. They put all their most valued in 1 bag, their less-valued in a 2nd, and the rest in a 3rd. They got sued for it by creditors and have gone thru a reorganization. I don't pretend to understand it, but part of it is now a REIT. They had to split the assets among the 3 subdivisions to satisfy the creditors, from whom they had sheltered the best properties.

This article might help.

https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN1CA2RB
If the House lost every hand, they wouldn't deal the game.
unJon
unJon
  • Threads: 14
  • Posts: 4574
Joined: Jul 1, 2018
March 19th, 2019 at 5:58:42 AM permalink
Quote: AZDuffman

I'm unfamiliar. Are you saying that there is a publicly traded REIT that owns the land and I could buy stock just in it?



https://www.businesswire.com/news/home/20171006005640/en/VICI-Properties-Completes-Spin-off-Caesars-Entertainment-Operating
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
100xOdds
100xOdds
  • Threads: 638
  • Posts: 4256
Joined: Feb 5, 2012
March 19th, 2019 at 6:01:30 AM permalink
Quote: AZDuffman

Great work working the system. I won't ask any secrets to where you are getting the points. Just call me the flipside. We would have better rules if there were more than 3 real competitors on the Strip.

there's also Casino royale and SLS :)
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
TigerWu
TigerWu
  • Threads: 25
  • Posts: 5509
Joined: May 23, 2016
March 19th, 2019 at 8:25:56 AM permalink
As far as competition on the Strip, isn't Resorts World going to be the first Genting property there?

They're a pretty huge company....
GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
March 19th, 2019 at 9:04:41 AM permalink
Quote: beachbumbabs

Icahn secretly bought in until he had more than 10% a couple weeks ago, then acquired (snapped up) enough to have over 15%, which gave him control of the company. He installed 4 of his people on the board, forcing out 2 current members, and taking over 2 positions whose terms end soon.

He hasn't yet announced his plans. However, I think n there's going to be a problem in AC, because he will have control of too many properties there by percentage.

And, yeah, CET has 3 companies last I heard. They put all their most valued in 1 bag, their less-valued in a 2nd, and the rest in a 3rd. They got sued for it by creditors and have gone thru a reorganization. I don't pretend to understand it, but part of it is now a REIT. They had to split the assets among the 3 subdivisions to satisfy the creditors, from whom they had sheltered the best properties.

This article might help.

https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN1CA2RB



so I guess this would be the exact definition of a hostile takeover?
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
AZDuffman
AZDuffman
  • Threads: 240
  • Posts: 13885
Joined: Nov 2, 2009
March 19th, 2019 at 9:18:27 AM permalink
Quote: GWAE

so I guess this would be the exact definition of a hostile takeover?



Depends on what he does with it. He might just sweat the management for better results. I do see a selloff of some parcels, maybe Flamingo. I don't see him doing a full LBO and taking it all private like he did with TWA.
All animals are equal, but some are more equal than others
GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
March 19th, 2019 at 9:48:52 AM permalink
it must be a weird feeling to be able to play monopoly with real businesses. I just got done negotiating some printing services at 40% off their original price. Probably still paid 20% too much but I am baller today. Saved $675
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
AZDuffman
AZDuffman
  • Threads: 240
  • Posts: 13885
Joined: Nov 2, 2009
Thanked by
Joeman
March 19th, 2019 at 9:57:43 AM permalink
Quote: GWAE

it must be a weird feeling to be able to play monopoly with real businesses. I just got done negotiating some printing services at 40% off their original price. Probably still paid 20% too much but I am baller today. Saved $675



Vegas can use another Willard White!
All animals are equal, but some are more equal than others
  • Jump to: