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Old 11-12-2014, 02:58 PM
 
15,844 posts, read 14,476,031 times
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Caesars has been the walking dead since the went private and the financial collapse hit. They've been trying to avoid filing for bankruptcy, but I guess they can't string it out too much longer. I have a feeling not much will change but the paperwork. The senior creditors will be at least somewhat protected, the junior creditors will get screwed.

Caesars, Creditors Said to Have Deal on Unit
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Old 11-12-2014, 03:15 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
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Caesars will come out smelling like roses. Give up a few properties and owe next to nothing
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Old 11-12-2014, 05:48 PM
 
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I don't think they will give up anything really. None of the creditors can run a casino any better, especially without the database. This has long been expected, I don't think anyone bought the junior bonds in the last five years not knowing this moment would eventually come.
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Old 11-12-2014, 07:54 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
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I'm thinking they lose the Rio and a few out of staters. Wouldn't it be ironic if the Marnell's (previous m resort) got it?
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Old 11-12-2014, 08:00 PM
EA
 
Location: Las Vegas
6,791 posts, read 7,116,365 times
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I would love to blow billions of dollars whilst filing bankruptcy.
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Old 11-13-2014, 01:28 PM
 
13,586 posts, read 13,118,325 times
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Caesars, which is actually Harrah's, has been mismanaging that company since they took it over.

Harrah's was a dump. The private equity boys who took it over can't count their balls twice and come up with the same number. It was only a matter of time for the BK filing.
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Old 11-13-2014, 03:29 PM
 
Location: worldwide
696 posts, read 1,170,328 times
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So what's next for Caesers is the real question?
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Old 11-13-2014, 04:03 PM
 
15,844 posts, read 14,476,031 times
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Probably not much different from the customer's standpoint. It will clear out a lot of the debt. They can likely start operating on a more normal basis (not struggling to keep up the debt service.) AFAIK, from an operating (EBITDA) basis they're fine.

I wonder if the senior debtor are getting equity?
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Old 11-14-2014, 02:07 AM
 
2,719 posts, read 3,490,637 times
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Quote:
Originally Posted by cityKing View Post
So what's next for Caesers is the real question?
Currently Caesars' executives are courting local officials in the Philippines so it can build a billion dollar resort/casino in the city. Even pitching to fix the airport so it can attached the resort via a monorail to the airport in Manila.

Shame on them. They need to let go of some properties to lessen their debt load but instead they are going to let go of their employees.
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Old 11-14-2014, 09:03 AM
 
2,180 posts, read 4,536,885 times
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business' restructure their debt load all the time... bfd.
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