100xOdds
100xOdds
Joined: Feb 5, 2012
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September 28th, 2014 at 3:53:16 PM permalink
https://www.baltimorebrew.com/2014/09/09/walls-street-sharks-circling-the-financially-bleeding-operator-of-horseshoe-baltimore/

Trump Entertainment Resorts, filed for bankruptcy protection today. The company plans to shut its Trump Plaza in Atlantic City next Tuesday and announced it may close the famous Trump Taj Mahal in November.


Whoa...
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
EvenBob
EvenBob
Joined: Jul 18, 2010
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September 28th, 2014 at 4:02:25 PM permalink
Quote: 100xOdds

https://www.baltimorebrew.com/2014/09/09/walls-street-sharks-circling-the-financially-bleeding-operator-of-horseshoe-baltimore/



'...boil down to the accusation that Caesars has been fraudulently transferring its “good” assets out of the reach of creditors and undercutting the value of the parent company.The world’s largest casino company hasn’t posted a profit in its core operations since 2009. Last year it shocked Wall Street by reporting $3 billion in losses – the result of softness in its Midwest and Gulf Coast markets and a steep decline in Atlantic City.'

How can this possibly have a happy ending
for Caesars? 3 billion in losses? Look for it
to be split up and sold, it's the only remedy.
"It's not enough to succeed, your friends must fail." Gore Vidal
1BB
1BB
Joined: Oct 10, 2011
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September 28th, 2014 at 4:03:32 PM permalink
Quote: 100xOdds

https://www.baltimorebrew.com/2014/09/09/walls-street-sharks-circling-the-financially-bleeding-operator-of-horseshoe-baltimore/

Trump Entertainment Resorts, filed for bankruptcy protection today. The company plans to shut its Trump Plaza in Atlantic City next Tuesday and announced it may close the famous Trump Taj Mahal in November.


Whoa...



Trump Plaza closed on September 16th which was a Tuesday. I think WARN notices were sent to Taj employees a while ago.
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi
GWAE
GWAE
Joined: Sep 20, 2013
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September 28th, 2014 at 4:18:44 PM permalink
this is like the day for old news stories.

This article was issued almost a month ago, not today
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
tringlomane
tringlomane
Joined: Aug 25, 2012
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September 28th, 2014 at 4:21:54 PM permalink
Just to pile on a bit...

You play in Maryland, 100x, why are you surprised by this? ;)
100xOdds
100xOdds
Joined: Feb 5, 2012
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September 28th, 2014 at 4:50:21 PM permalink
Quote: tringlomane

Just to pile on a bit...

You play in Maryland, 100x, why are you surprised by this? ;)



lol.. would have bet the farm that the survivors of the AC casino collapse would be Borgata and Taj.
I was shocked to find out that Taj is on the chopping block, and soooooooooo soon.

as for the article, I was also surprised that Caesar's is trying to pull a fast one by spinning off their good casinos (ie: Horseshoe Baltimore) w/little debt while bondholders hold the bag for the unprofitable casinos that's left.

I cant see Caesar's winning this.
If I didn't bet all my stock speculation $ on Ahigh's company ($5k on Ntek), I would short CZR!
(I don't see them having the $5 billion in debt payments due by the end of 2015)
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
AZDuffman
AZDuffman
Joined: Nov 2, 2009
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September 28th, 2014 at 5:21:08 PM permalink
Quote: EvenBob


How can this possibly have a happy ending
for Caesars? 3 billion in losses? Look for it
to be split up and sold, it's the only remedy.



That should have happened when they did the LBO. Split Harrah's and Caesars, keeping them in one is like selling Chevys and Cadillacs in the same showroom. Keep the land under Flamingo and rent the concession to a management group or just spin it off with a fair share of the debt. Brand Hararahs and use it for all the Indian and other locations. Keep Caesars high end. As it is now it is a mess.
All animals are equal, but some are more equal than others
Boz
Boz
Joined: Sep 22, 2011
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September 28th, 2014 at 5:29:14 PM permalink
Quote: 100xOdds

I cant see Caesar's winning this.
If I didn't bet all my stock speculation $ on Ahigh's company ($5k on Ntek), I would short CZR!
(I don't see them having the $5 billion in debt payments due by the end of 2015)




Stock is down over 50% this year already and are one of the most shorted stocks out there. Not sure why anyone would own it unless they know something everyone else doesnt.
100xOdds
100xOdds
Joined: Feb 5, 2012
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September 28th, 2014 at 5:36:27 PM permalink
Quote: AZDuffman

That should have happened when they did the LBO. Split Harrah's and Caesars, keeping them in one is like selling Chevys and Cadillacs in the same showroom. Keep the land under Flamingo and rent the concession to a management group or just spin it off with a fair share of the debt. Brand Hararahs and use it for all the Indian and other locations. Keep Caesars high end. As it is now it is a mess.



I would have thought 3:
-harrahs for low end fleas
-caesars for high end bored housewives
-and Horseshoe because of the publicity gold of the WSOP
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)

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