Cosmo Cash Flow issues?
May 1st, 2018 at 12:20:33 PM
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https://twitter.com/VitalVegas/status/990734827681824768
Tweet from Vital Vegas about credit lines being cut or eliminated. Could be a sale coming, cash flow problems, or nothing. Anyone have any history with these type occurrences?
Tweet from Vital Vegas about credit lines being cut or eliminated. Could be a sale coming, cash flow problems, or nothing. Anyone have any history with these type occurrences?
May 1st, 2018 at 1:23:33 PM
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Is that something that would happen if they're doing something like updating their computer systems or something? I don't know how credit lines work from a logistical standpoint...
May 1st, 2018 at 3:27:11 PM
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You generally want to clear aged receivables before a sale. In a case like this, maybe also before a new loan application or debt refinance. I wouldn't think the players' credit lines would have been a big amount at all in the broader scheme of things here, but it's all about hoarding cash so maybe every penny counts.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
May 1st, 2018 at 4:35:28 PM
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I have a pretty low line ($15K) there and I have been told I will need to re-apply as I haven't used it in over 6 months. I typically wire in anyways, but I liked having it as a backup. Really weird. Guess I will go back to V/P where they love issuing credit LOL
May 1st, 2018 at 5:27:49 PM
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Quote: Jmarch79I have a pretty low line ($15K) there and I have been told I will need to re-apply as I haven't used it in over 6 months. I typically wire in anyways, but I liked having it as a backup. Really weird. Guess I will go back to V/P where they love issuing credit LOL
I've found V/P to be the opposite of easy getting credit. I've had other casinos throw me lines of credit and asking if I wanted to increase without re-applying. V/P has been really strict to me. I don't know why.
May 2nd, 2018 at 10:16:25 AM
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I was under the impression that Cosmo had a good year last year. I don't understand all of the elaborate financing deals.
At my age, a "Life In Prison" sentence is not much of a deterrent.
May 2nd, 2018 at 12:35:50 PM
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https://vitalvegas.com/cosmopolitan-sale-to-hard-rock-international/
The new rumor is that they're strengthening their books before a potential sale to Hard Rock International.
The new rumor is that they're strengthening their books before a potential sale to Hard Rock International.
Ding Dong the Witch is Dead
May 2nd, 2018 at 12:59:10 PM
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I walked through the Cosmo last year and it looked super nice. Very classy and well decorated. I ate there and the food was absolutely delicious. I would want to stay and play there if they had Pai Gow Tiles.
