[airics]

Hearing delayed on Cosmopolitan owner's request to deregister as public company - Business - ReviewJournal.com



Are they in that much trouble? How big is the loss for the 4th quarter?

[SUPERCHIC]

thought that hotel was part of the Ritz carlton goup

[sojones]

They came into Las Vegas at the worst time; though I doubt they'll have any prblems in meeting their costs. People will buy places there if they cut the rates down.

[Willy702]

A privately held company deregistering means little. Seems like they wanted the option to sell shares or bonds at some future time but its kind of obvious no one would buy them. The ownership LLC likely just declares bankruptcy and a new entity ends up as the owners with a lot less debt on its books and no need to spend milions a year staying SEC compliant.

[airics]

Originally Posted by SUPERCHIC

thought that hotel was part of the Ritz carlton goup

Nope. Owned by deutch bank.. Part of the marriot group

[airics]

Originally Posted by sojones

They came into Las Vegas at the worst time; though I doubt they'll have any prblems in meeting their costs. People will buy places there if they cut the rates down.

They've lost over 200 mil in the 1st year.. They aren't meeting costs

[airics]

Originally Posted by Willy702

A privately held company deregistering means little. Seems like they wanted the option to sell shares or bonds at some future time but its kind of obvious no one would buy them. The ownership LLC likely just declares bankruptcy and a new entity ends up as the owners with a lot less debt on its books and no need to spend milions a year staying SEC compliant.

I'm thinking a bankruptcy looms ahead also.

[BBMW]

I don't think this particular move makes any difference. I don't think Deutche Bank has any plans to try to take Cosmo public. They just want to try to pump it up, and sell it off to another gaming operator.

And, give the money they have tied up in it, I don't think they have any plans to shut it down.

[airics]

Originally Posted by BBMW

I don't think this particular move makes any difference. I don't think Deutche Bank has any plans to try to take Cosmo public. They just want to try to pump it up, and sell it off to another gaming operator.

And, give the money they have tied up in it, I don't think they have any plans to shut it down.

It's already public as Nevada properties llc

[BBMW]

Have they sold any shares? I don't think so. DB has no plans to, so they don't want to have the subsidiary deal with all the reporting and other requirement for a public company.

Originally Posted by airics

It's already public as Nevada properties llc