Boz
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Daddydoc
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July 21st, 2014 at 6:08:59 PM permalink
I guess they weren't losing enough on operations.
If government is the answer, it must have been a very stupid question.
onenickelmiracle
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July 21st, 2014 at 7:18:09 PM permalink
As long as nobody was injured or killed, I like hearing about casinos being robbed and find pleasure. Good for the bad guys and hope they get a away with it.
I am a robot.
rxwine
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July 21st, 2014 at 7:33:41 PM permalink
Quote: Boz

http://www.pressofatlanticcity.com/news/crime/more-than-stolen-from-caesars-in-armed-robbery/article_3348e7dc-110f-11e4-90ed-0019bb2963f4.html


Not too many details yet, a developing story.



Anything in AC you have to suspect it's investors trying to rob their way out of debt. You know, like classic arson, and burning down a bankrupt business to collect insurance.
There's no secret. Just know what you're talking about before you open your mouth.
Boney526
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July 21st, 2014 at 7:44:47 PM permalink
Quote: onenickelmiracle

As long as nobody was injured or killed, I like hearing about casinos being robbed and find pleasure. Good for the bad guys and hope they get a away with it.



Well that doesn't make you sound like a degenerate or anything.
Daddydoc
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July 22nd, 2014 at 6:00:05 PM permalink
Quote: onenickelmiracle

As long as nobody was injured or killed, I like hearing about casinos being robbed and find pleasure. Good for the bad guys and hope they get a away with it.



As much as CET may be a despicable corporation, it is still a shareholder owned company which means the thieves are stealing from the stockholders, many of whom may be small investors and pension/retirement funds. Granted, CET is almost certainly insured against such losses, but their insurance costs will go up to cover the loss which gets charged back against CET's nonexistent profits. I understand (I think) your David vs. Goliath angle, but gun wielding robbers do not conjure up a noble image for me.
If government is the answer, it must have been a very stupid question.
Boz
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July 22nd, 2014 at 6:18:35 PM permalink
Quote: Daddydoc

As much as CET may be a despicable corporation, it is still a shareholder owned company which means the thieves are stealing from the stockholders, many of whom may be small investors and pension/retirement funds. Granted, CET is almost certainly insured against such losses, but their insurance costs will go up to cover the loss which gets charged back against CET's nonexistent profits. I understand (I think) your David vs. Goliath angle, but gun wielding robbers do not conjure up a noble image for me.



Agreed, but anyone buying CZR stock at this time is a gambler and the bet is -EV bigtime.
JohnnyQ
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July 22nd, 2014 at 7:01:26 PM permalink
Quote: Daddydoc

I understand (I think) your David vs. Goliath angle, but gun wielding robbers do not conjure up a noble image for me.



Every armed robbery has a chance of going horribly wrong and killing innocent people. So, I didn't find any humor in ONENICKEL's post either, which I assume was intended.
There's emptiness behind their eyes There's dust in all their hearts They just want to steal us all and take us all apart
onenickelmiracle
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July 22nd, 2014 at 7:05:47 PM permalink
Quote: Daddydoc

As much as CET may be a despicable corporation, it is still a shareholder owned company which means the thieves are stealing from the stockholders, many of whom may be small investors and pension/retirement funds. Granted, CET is almost certainly insured against such losses, but their insurance costs will go up to cover the loss which gets charged back against CET's nonexistent profits. I understand (I think) your David vs. Goliath angle, but gun wielding robbers do not conjure up a noble image for me.

There is probably more upper level management theft from investors than this take.
I am a robot.
Daddydoc
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July 22nd, 2014 at 7:19:00 PM permalink
Quote: onenickelmiracle

There is probably more upper level management theft from investors than this take.



Yeah, that may be true, but I don't factually know this and I don't think you do either. There certainly could be as many thieving scumbags in the boardroom of CET as there are at Goldman Sachs, JP Morgan or any number of other financial firms. They are despicable, and they affect many lives, but they aren't waving guns in the faces of people while committing their crimes. No less despicable, but less dangerous.
If government is the answer, it must have been a very stupid question.
onenickelmiracle
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July 22nd, 2014 at 7:33:01 PM permalink
Quote: Daddydoc

Yeah, that may be true, but I don't factually know this and I don't think you do either. There certainly could be as many thieving scumbags in the boardroom of CET as there are at Goldman Sachs, JP Morgan or any number of other financial firms. They are despicable, and they affect many lives, but they aren't waving guns in the faces of people while committing their crimes. No less despicable, but less dangerous.

I'm very apathetic about the news. Like Seinfeld liked to say, "that's a shame", meaning you know you should care, but you really don't.
I am a robot.
djatc
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July 23rd, 2014 at 4:51:52 AM permalink
Caesers has money laying around to rob?
"Man Babes" #AxelFabulous
GWAE
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July 23rd, 2014 at 5:41:27 AM permalink
Quote: djatc

Caesers has money laying around to rob?



bazinga!!
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
DMSCR
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July 23rd, 2014 at 7:24:05 AM permalink
Quote: Boz

Agreed, but anyone buying CZR stock at this time is a gambler and the bet is -EV bigtime.



Unless you are buying CZR puts or doing covered or uncovered call writing (not recommended). Shorting the stock.
SOOPOO
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July 23rd, 2014 at 7:29:14 AM permalink
Quote: Boz

Agreed, but anyone buying CZR stock at this time is a gambler and the bet is -EV bigtime.



I may have asked you this before, but how many shares have you shorted CZR? Since you proclaim anyone buying CZR is -EV, I assume you believe anyone selling (shorting) CZR is +EV? I believe my meager holding in CZR has nearly tripled in value in the last year.
DrawingDead
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July 23rd, 2014 at 9:22:18 AM permalink
Quote: SOOPOO

I may have asked you this before, but how many shares have you shorted CZR? Since you proclaim anyone buying CZR is -EV, I assume you believe anyone selling (shorting) CZR is +EV? I believe my meager holding in CZR has nearly tripled in value in the last year.

I think this company should lay in a supply of strawberry jam, because they are toast. But, I said that to say this: I also think shorting the equity is a shaky proposition, for speculators with a very strong stomach and plenty of "gamble" in them, as is being long by actually owning shares, because they have a thin float (small proportion of the company represented by the shares released to the market available for trading vs. those shares held back & NOT out in the market) making it rather easy for those (ahem, private equity owners & CZR management) carrying it on their books as an asset to artificially prop up the price. A better measure of their financial health is in the bonds. The bond market is more rigorous, much larger, and at least in this case clearly more "real." Last I checked some of their bonds, including some of them supposedly secured by real assets, were trading near 40% effective annual rates. Meaning the bond market thinks default is more likely than not, and not more than a few years distant.

These things are not mutually exclusive. The stock price can perform well for a significant time, while being worth less than zero. And both sides of that trade can make money, if they have the nimble timing of God, or have enough luck to credibly fake being on some kind of divine speedial, and/or both can lose if they do not.
Suck dope, watch TV, make up stuff, be somebody on the internet.
DRich
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July 23rd, 2014 at 9:29:39 AM permalink
It seems like for at least the last five years people have been predicting the imminent death of Harrahs/Caesars and it still hasn't happened. Maybe Loveman is smarter than we are giving home credit for. If he can keep the company alive while everyone is predicting its' imminent death, he is doing something right.
At my age, a "Life In Prison" sentence is not much of a deterrent.
DrawingDead
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July 23rd, 2014 at 9:48:18 AM permalink
Quote: DRich

It seems like for at least the last five years people have been predicting the imminent death of Harrahs/Caesars and it still hasn't happened. Maybe Loveman is smarter than we are giving home credit for. If he can keep the company alive while everyone is predicting its' imminent death, he is doing something right.

Or, maybe it has something to do with the fact that the major debt maturities begin to occur in 2015 & increase after that point.

Has anyone suggested they'd fold their tent before then? I haven't heard it, but what the simple math dictates is that they have no possibility of rolling over their debt as it matures at rates they can possibly service out of their cash flow. Translation: the deadbeat occupying the house doesn't choose to go into foreclosure until the mortgage is due. It isn't due last year or year before or two years before, or now; it will be coming due over the next few years. Getting it?

Nobody, and I mean nobody including Loveman & his board (and I do actually listen to Loveman & his board address his investors & creditors), would suggest having CZR debt trading at these toxic waste levels while continuing to hemorrhage increasing amounts of cash every quarter (in an improving market no less!) and reporting bigger loss on top of bigger loss qualifies as any kind of financial success or is an acceptable condition that can magically continue unchanged. The suggested remedy, to the limited extent there has been any coming from the company's leadership, is to outrun the bear... growing fast enough to stay half a step ahead of the bonded indebtedness repo man as long as they can.
Suck dope, watch TV, make up stuff, be somebody on the internet.
Boz
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July 23rd, 2014 at 10:26:26 AM permalink
Quote: SOOPOO

I may have asked you this before, but how many shares have you shorted CZR? Since you proclaim anyone buying CZR is -EV, I assume you believe anyone selling (shorting) CZR is +EV? I believe my meager holding in CZR has nearly tripled in value in the last year.




Yes you made money if you bought when it was first issued or when it dropped well below $10. But it is off nearly 30% from its high and is a very risky play based on all financials. So yes, in answer to your question I have shorted the stock and feel it is a great deal based on stock basics. That said if myself or anyone else had every stock pick we make perform to expectations based just on financials I would be rich.

I would question those who believe they can come out of this debt load based on current results without a bankruptcy to explain why.
DRich
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July 23rd, 2014 at 10:44:11 AM permalink
Quote: Boz



I would question those who believe they can come out of this debt load based on current results without a bankruptcy to explain why.



I agree bankruptcy seems very likely whenever they can't restructure the debt anymore. It is very interesting to me that people continue to refinance their debt. It is almost like a pyramid scheme where everyone is profiting by refinancing them until they find out that they are the last one holding it without anyone else willing to do it.
At my age, a "Life In Prison" sentence is not much of a deterrent.
DrawingDead
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July 23rd, 2014 at 12:00:02 PM permalink
Quote: DRich

I agree bankruptcy seems very likely whenever they can't restructure the debt anymore. It is very interesting to me that people continue to refinance their debt. It is almost like a pyramid scheme where everyone is profiting by refinancing them until they find out that they are the last one holding it without anyone else willing to do it.

I think that's a good way to describe it in non-nerdy language.

Here's part of how they've been expanding and doing big ticket "upgrade" projects with practically no real money and less than no credit, while unable to handle some aspects of basic routine maintenance & operations effectively: by recruiting new money for each new thing, supposedly structured to be fenced off as if it was separate new entity amounting to a separate company with separate assets (the "Bills" --> "Gansevoort" --> "Cromwell" project for example). But then, surprise, surprise, now some much earlier folk who thought they had purchased financial instruments secured by specific assets find the company unilaterally shifting them about to keep the whole thing going, diluting (effectively eliminating) that distinct tie to the specific asset, and are now trying to sue them as defaulting on the terms under which they put up the money. Chain-letter, pyramid, Ponzi-scheme seem like reasonable analogies to illustrate the situation, as those first-in now start to get seriously and quite publicly cheesed-off at it and are now going to court to try to stop the draining of what was supposed to ultimately belong to them in case of default. And, some of the "analysts" are in brokerage houses with serious conflicts, doing significant business issuing notes and generating fees in restructuring some of their complex financial instruments. There are plenty around who aren't encumbered like that, but if someone is prone to listen to a nice salesman without doing their own thorough due diligence... next stop: baccarat systems!

I think someone could make a case or at least reasonably raise the question of whether this could even be related to the robbery that was the original topic here, no joke. Here's a personal anecdotal example along that path: I used to play a significant amount of poker in some of their properties, but cut down on that and then just fired them altogether as a multitude of things deteriorated, including the staffing getting thinner & thinner. If one is concerned at all about appropriate game control in poker, it should make your hair stand up to find out that supposed managers of poker rooms are now stretched out over covering THREE properties of their Las Vegas poker rooms at once with the "manager" title in this company, and nobody with any real authority and significant supervisory experience and relevant training for supervising games and making rulings in poker is present in, or even very near, many of the rooms much of the time, and those left to "run" the room are often just whichever dealer isn't "in the box" dealing at the moment, making minimum wage while not dealing. I think it doesn't take too great of a leap to go from that particular gripe of mine to thinking poker isn't the only place where that shows (and I could go on about some others) and whether someone could possibly have rationally decided one of their properties would be a particularly good candidate for pulling a heist after "casing the joint."
Suck dope, watch TV, make up stuff, be somebody on the internet.
NokTang
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July 25th, 2014 at 10:02:58 PM permalink
I don't understand the "plastic boxes" aspect of the story. Can someone please advise. Thank you.
FleaStiff
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July 26th, 2014 at 6:12:14 AM permalink
Everything in Las Vegas is grist for an MBA, a lawyer and a stock broker.

Look at the M. They had a good poker room, then they let the players run it into the ground with all those "specials" and no one playing poker; then they revived the room with renewed emphasis on players putting up actual money ....... and then..they closed the poker room.

Its worse with The Evil Empire. They don't clean, they don't paint, they just skewer those customers that they can and keep trading assets so that no one really knows who owns what. Bondholders can send lawyers running in to seize properties but they will be met by other lawyers waiving bankruptcy cram-down documents trying to protect the whole at the expense of the various parts.

Once you convince traders and judges that you are too big to fail, then you are too big to fail. There are some very greedy paws in the background all claiming prior rights to streams of income. The Evil Empire is juggling until they can pull it off or until the music stops. The Evil Empire stopped the cleaning, stopped the painting. It may very well stop the music some day.

Go all the way back to Barons of long ago and read their article analyzing the first casino in the marina district of Atlantic City. Look at what happened and don't get confused with the Entity Creation and Shuffling Game. You can see Lee Marvin saying 'I ain't never gulled a partner" but that is a movie. Somebody turned that first casino from a 50/50 deal into a 100/0 deal. And they didn't do it Lee Marvin style. That was the start of the Evil Empire's game and the Cash Horde they raised was the start of the Buy Everyone Else Out scheme.

Look at the tried and true standards of Wall Street of long ago.

An Investment Banker used to want to bring out a stock at the correct price and have the market value the asset at the same price. Then the game changed and it became bring it out for a first day bump of X or 2X or whatever.

Look at how the vast orders were market orders and then it became limit orders and the FBI sent undercover agents onto the floor to try to stop the brokers from doing all these friendly trades whenever some fool sent in a market order.

Look at how parking was illegal and then it became that parking was the only business in town.

Look at how Hedge Funds are 'blinds' for "First Call" rumor traders.

Look at how you can order Big Blocks, put in a Big Block Cancellation notice and make a fortune because you know your chip rate and the electronic "distance" to the super computers doing the trading.

The game changed for Wall Street long ago. It changed for corporations too. Enron? No balance sheets, No income statements. No admission to meetings if you wrote a per share goal that was so much as one cent off The Party Line. CPAs and analysis of Income Quality meant nothing. CPAs meant nothing. The Chairman of the Board spoke with the Voice of God, because there were no balance sheets or income statements; there was only those who "Got on the Team".

The Game has changed,.... the names have changed... but its still the same old sharks in the water from early Atlantic City.
teddys
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July 26th, 2014 at 8:59:14 AM permalink
Great post, FS.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
Neutrino
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July 27th, 2014 at 1:12:03 AM permalink
Their so called "security" is too busy watching for card counters than to actually "secure" the place
FleaStiff
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July 27th, 2014 at 6:38:23 AM permalink
Quote: FleaStiff


Go all the way back to Barons of long ago and read their article analyzing the first casino in the marina district of Atlantic City. Look at what happened and don't get confused with the Entity Creation and Shuffling Game. You can see Lee Marvin saying 'I ain't never gulled a partner" but that is a movie. Somebody turned that first casino from a 50/50 deal into a 100/0 deal. And they didn't do it Lee Marvin style. That was the start of the Evil Empire's game and the Cash Horde they raised was the start of the Buy Everyone Else Out scheme.



When it was two partners on a fifty fifty basis but then ends in 'we own it all' you can't ever tell when the gloves came off but chances are the gloves were never on. Its just been one long roll .... and now they've learned the phrase 'too big to fail'.
mrclean
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July 27th, 2014 at 11:51:53 AM permalink
Quote: NokTang

I don't understand the "plastic boxes" aspect of the story. Can someone please advise. Thank you.



I believe the plastic boxes are full of cash and used to fill the ticket redemption machines. As people redeem their slot machine tickets the machines get empty and need to be refilled.
Fortalezo
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August 6th, 2014 at 9:29:20 AM permalink
Quote: mrclean

I believe the plastic boxes are full of cash and used to fill the ticket redemption machines. As people redeem their slot machine tickets the machines get empty and need to be refilled.



It's an insider's job!
Fired security guard among five arrested in Caesars robbery

I still need to worry about insiders such as security guards. Do you guys know that a security guard can open your safe in your room with a swipe of his card?

If you don't believe me, you will find out the easy way. While you're in your room, just call the security and ask for a "locksmith" to open your safe. Just make up any excuse such as... you've forgotten your combination, or the safe is malfunctioned, etc...

Then report your findings back here please.
Daddydoc
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August 6th, 2014 at 9:36:03 AM permalink
Quote: Fortalezo

Do you guys know that a security guard can open your safe in your room with a swipe of his card?



Not at Borgata. I had this happen a couple years ago. My buddy changed the safe code while he was drunk, and neither of us could open it at check out. I called security and an officer came up with a locksmith, who had to do a bit of reprogramming on the safe to open it - it was not just a card swipe. The security officer just stood at the door.
If government is the answer, it must have been a very stupid question.
sabre
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August 6th, 2014 at 10:27:56 AM permalink
Quote: Fortalezo


I still need to worry about insiders such as security guards. Do you guys know that a security guard can open your safe in your room with a swipe of his card?



It's pretty well established that room safes aren't particularly secure. People leave them locked frequently, so unlocking them can't be an arduous process. They're better than leaving your stuff out on the bed, but not by much.
Boz
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August 6th, 2014 at 10:29:25 AM permalink
Quote: SOOPOO

I may have asked you this before, but how many shares have you shorted CZR? Since you proclaim anyone buying CZR is -EV, I assume you believe anyone selling (shorting) CZR is +EV? I believe my meager holding in CZR has nearly tripled in value in the last year.




Hope you took some profits as CZR hit a 52 week low yesterday as they filed suit against their bond holders. It has rebounded some today but is now down percent from its high. Yes I am still short and see little upside while they have this debt load.
DrawingDead
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August 6th, 2014 at 11:44:17 AM permalink
Quote: Fortalezo

Do you guys know that a security guard can open your safe in your room with a swipe of his card?

If you don't believe me, you will find out the easy way. While you're in your room, just call the security and ask for a "locksmith" to open your safe. Just make up any excuse such as... you've forgotten your combination, or the safe is malfunctioned, etc...

Then report your findings back here please.


Here are my findings (per my Twitter post in Jan of 2011):



In case you can't tell from the pic, it is a bag of Rice Crispies. More about that later.

I always use room safes in hotels, and I use hotel rooms often enough (about 50-100 times a year) that I've probably had to have security open them half a dozen times over the last several years. It isn't all that unusual for people to leave them locked when they check out, whether as a stupid prank or just plain stupid I don't know. Yes hotel/casino security can override this almost all places, or call on an outside contractor to do so in the few where they can't. And from what I've seen they apparently have a protocol for who is able to do this, under what circumstances, when, how, and with whom. Apparently even more so than what I had in place for safeguards when I was responsible for a great many rental housing units at multiple locations, along with the staff I was responsible for at all those sites, some of whom had to have some way to enter those rental homes in a tenant's absence in case of emergency. I certainly don't consider this a problem. It would definitely be a problem if it was not possible without a blowtorch or an axe.

What are the real potential problems which I am truly concerned about, and using those safes to secure my property from? I think the things that actually occur commonly include accidentally leaving the door to the room unsecured, housekeeping theft, larcenous guests, etc. In my opinion they do not include the security staff signing out what they need to do this and then randomly picking my room to enter to see if I am one of the <10% that actually uses the safe, and maybe has left something in it at the time so that they can find something there to steal, and while doing so leaving a screaming obvious trail back to them individually and personally that would be even more clear than theft from the cage or a bank safe-deposit box.

I'm certainly not surprised or outraged. If you feel differently about that, fine. In my opinion room safes are a sensible solution; not a problem. I think a problem is people not using either them or any other sensible alternative.

Oh, about the Rice Crispies pic. That was from a Twitter post I made in January of 2011, shortly after I checked into a room at the Rio (Las Vegas). It was a large zip-lock bag, about 12-18 inches square as I recall. Which was, in turn, inside a very carefully taped-up brown paper wrapper. Which was inside the room safe. Which was closed but not locked. So, did I immediately call security to report the mysterious brown parcel left in my safe? No, not exactly; I did not. My combination of flawed character, fertile imagination, and overwhelming curiosity got the better of me, and I opened it first. And determined after much unwrapping that it contained Rice Crispies. And then called security to report that it was left in the safe. Which they dutifully documented. And I got exactly what I deserved as a just reward for my less than perfect character... and no clue what the Rice Crispies in the safe were really about, but a peculiar little story to tell, albeit without the complimentary souvenir t-shirt to go with it.
Suck dope, watch TV, make up stuff, be somebody on the internet.
rxwine
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August 6th, 2014 at 12:09:18 PM permalink
Quote: DrawingDead


.



In the middle of that is small brown carefully taped napkin with flawless diamonds?
There's no secret. Just know what you're talking about before you open your mouth.
DrawingDead
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August 6th, 2014 at 12:15:42 PM permalink
Quote: rxwine

Quote: DrawingDead


.



In the middle of that is small brown carefully taped napkin with flawless diamonds?

In which case there is probably a team of assassins/torturers hired by some very nasty people to hunt me down to the ends of the Earth. Something like that did flash through my mind in the moment I paused before tearing off the brown wrapper. Among other things.

But the cleverly hidden stones were apparently the lightest gemstones ever known, weighing no more than... Rice Crispies.
Suck dope, watch TV, make up stuff, be somebody on the internet.
AxiomOfChoice
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August 6th, 2014 at 12:18:52 PM permalink
Quote: Fortalezo

I still need to worry about insiders such as security guards. Do you guys know that a security guard can open your safe in your room with a swipe of his card?



Even if this is true in some places, they have to swipe the card, just as they do to enter your room. So, there is a record of it. It prevents a rogue employee from stealing something with no trail leading back to them.

Nothing is 100% secure against robbery. The room safe stops the maid from stealing your stuff.
DrawingDead
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August 6th, 2014 at 1:25:28 PM permalink
Quote: Fortalezo

Fired security guard among five arrested in Caesars robbery

Not sure how "inside" this 19 year-old kid really ever managed to be before they fired him last month, but from the story in the link comes a clue they may have actually been auditioning to be in the very low-rent straight-to-video casino heist sequel flick "Oceans XXVIII."
Quote: Lynda Cohen @pressofAtlanticCity

...the men stole more than $260,000 in three boxes but dropped one as they fled...

...The getaway car is described as a 2011 to 2014 Hyundai Sonata... [and] ...the passenger side brake light was out...



And like all your most classy big-baller type criminal mastermids nowadays, he has a Twitter handle & a Facebook page. Where the artistry of his profound utterances would surely make Tolstoy & Hemingway cower in envy:

Quote: Izyiah Plummer
@KatDaddy02

Why hoes wanna be wifed man..

Quote: Izyiah Plummer
@KatDaddy02

I need to get out this house man, can't stand this B[***]



Quote: https://www.facebook.com/izyiah.plummer

Need to finish the rest of my body who nice wit this ink s[***] ????

Suck dope, watch TV, make up stuff, be somebody on the internet.
AcesAndEights
AcesAndEights
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August 7th, 2014 at 9:21:12 AM permalink
Quote: DrawingDead



Oh, about the Rice Crispies pic. That was from a Twitter post I made in January of 2011, shortly after I checked into a room at the Rio (Las Vegas). It was a large zip-lock bag, about 12-18 inches square as I recall. Which was, in turn, inside a very carefully taped-up brown paper wrapper. Which was inside the room safe. Which was closed but not locked. So, did I immediately call security to report the mysterious brown parcel left in my safe? No, not exactly; I did not. My combination of flawed character, fertile imagination, and overwhelming curiosity got the better of me, and I opened it first. And determined after much unwrapping that it contained Rice Crispies. And then called security to report that it was left in the safe. Which they dutifully documented. And I got exactly what I deserved as a just reward for my less than perfect character... and no clue what the Rice Crispies in the safe were really about, but a peculiar little story to tell, albeit without the complimentary souvenir t-shirt to go with it.


I have heard of marijuana-infused Rice Crispy Treats, but just plain rice crispies...don't think that would work.

I have to ask now, did you open the zip-lock and investigate further before you reported it?
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
DrawingDead
DrawingDead
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August 7th, 2014 at 9:57:07 AM permalink
Quote: AcesAndEights

I have to ask now, did you open the zip-lock and investigate further before you reported it?

Nope, I didn't. Held it up & massaged it a bit & shook it around a little; didn't open it to empty out and inspect the Rice Crispies.

It seemed like a lot of Rice Crispies for someone to pack around, like maybe it could've taken the contents of two or three cereal boxes to stuff that puppy, considering how much air they have in those things from a supermarket. Think I actually missed my opportunity to get really rich? Or, to win free lifetime room & board somewhere? Or croak of plutonium poisoning?
Suck dope, watch TV, make up stuff, be somebody on the internet.
AcesAndEights
AcesAndEights
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August 7th, 2014 at 11:48:42 AM permalink
Quote: DrawingDead

Nope, I didn't. Held it up & massaged it a bit & shook it around a little; didn't open it to empty out and inspect the Rice Crispies.

It seemed like a lot of Rice Crispies for someone to pack around, like maybe it could've taken the contents of two or three cereal boxes to stuff that puppy, considering how much air they have in those things from a supermarket. Think I actually missed my opportunity to get really rich? Or, to win free lifetime room & board somewhere? Or croak of plutonium poisoning?


My guess is that the rice crispies were there as ad-hoc padding for some valuable object. The previous occupant probably just forgot the packaging, while remembering the actual item, or offloading it to a buyer or something. Just a guess.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
DrawingDead
DrawingDead
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August 7th, 2014 at 1:20:00 PM permalink
Quote: AcesAndEights

My guess is that the rice crispies were there as ad-hoc padding for some valuable object. The previous occupant probably just forgot the packaging, while remembering the actual item, or offloading it to a buyer or something. Just a guess.

Now that sounds like a perfectly reasonable explanation. Relatively boring, but reasonably likely. Especially considering that it was early January, so not long after the holidays.

I wonder if there's a chance Rio lost & found dept. still has a rather stale & dusty bag of breakfast cereal cataloged & stored somewhere? You have my blessing to go say you've now realized you lost it somewhere on the property 3 & 1/2 years ago, and it is very important to you, perhaps for an obscure sacred ceremony you must perform soon because you are Chief Medicine Man Hooga Booga Boo of the Wannaseeitopawnit people.

It probably wouldn't be the most ridiculous thing they hear this week.
Suck dope, watch TV, make up stuff, be somebody on the internet.
vendman1
vendman1
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August 15th, 2014 at 4:50:39 AM permalink
Back on track for this thread. Saw on a Philly TV affiliate, sorry don't remember which one that the Caesars robber suspects were all apprehended and that "most" of the money was recovered. They were all 20 somethings and one of them lived with his parents still. In fact the suspects father shot a cop as they were executing the arrest warrant. So it's a classy family all the way around. Cop was treated and released so he's ok.

So mystery solved. Sadly not a plot for Oceans 14.
Mosca
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August 15th, 2014 at 7:07:23 AM permalink
Quote: AcesAndEights

My guess is that the rice crispies were there as ad-hoc padding for some valuable object. The previous occupant probably just forgot the packaging, while remembering the actual item, or offloading it to a buyer or something. Just a guess.



My guess is parents traveling with kids, going home and leaving the Rice Krispies. Mrs and I used to do that, but with Cheerios.
A falling knife has no handle.
NokTang
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August 16th, 2014 at 8:24:57 PM permalink
Quote: vendman1

Back on track for this thread. Saw on a Philly TV affiliate, sorry don't remember which one that the Caesars robber suspects were all apprehended and that "most" of the money was recovered. They were all 20 somethings and one of them lived with his parents still. In fact the suspects father shot a cop as they were executing the arrest warrant. So it's a classy family all the way around. Cop was treated and released so he's ok.

So mystery solved. Sadly not a plot for Oceans 14.



Glad the cop is okay, but sometimes cops deserve to be shot. Regarding the money, was it returned to Caesars or does that take time?
beachbumbabs
beachbumbabs
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August 17th, 2014 at 4:19:44 AM permalink
Quote: NokTang

Glad the cop is okay, but sometimes cops deserve to be shot. Regarding the money, was it returned to Caesars or does that take time?



Here's an idea; how about we don't advocate cop shootings on here again? It was ugly enough last time.
If the House lost every hand, they wouldn't deal the game.
Gandler
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August 17th, 2014 at 5:03:24 AM permalink
Quote: NokTang

Glad the cop is okay, but sometimes cops deserve to be shot. Regarding the money, was it returned to Caesars or does that take time?


He deserves to be shot for visiting somebody's house with a proper warrant to return stolen money?

But as for the cash/chips getting returned, I know some casinos (hopefully most) are insured against such losses, and I'm sure a major casino like that would be. But if they get the money back maybe they can recoup their losses without raising insurance costs? But I have no clue how long/what the policy is for police to distribute the found cash/chips.
darkoz
darkoz
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August 17th, 2014 at 6:41:08 AM permalink
Quote: Gandler

He deserves to be shot for visiting somebody's house with a proper warrant to return stolen money?

But as for the cash/chips getting returned, I know some casinos (hopefully most) are insured against such losses, and I'm sure a major casino like that would be. But if they get the money back maybe they can recoup their losses without raising insurance costs? But I have no clue how long/what the policy is for police to distribute the found cash/chips.



I'm certain the money will eventually be returned but not before the trial.

It's evidence and will most likely be bagged and tagged. On cross examination, the state will want to say "this money was located in the home" and hold it up. Not, "Yeah, take our word for it, we found money but we gave it back already."

The insurance company will probably cover what money was not recovered and if its small enough, they won't raise rates(well, perhaps I shouldn't underestimate insurance company greed, lol). The casino can survive while they wait for this money to be returned.
For Whom the bus tolls; The bus tolls for thee
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