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Caesar's 1st Quarter

Discussion in 'Casino Industry & Development' started by smartone, May 7, 2015.

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  1. smartone

    smartone VIP Whale

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  2. Packer

    Packer VIP Whale

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    I also now see why.....
    Caesars Palace, reported net revenue of $529 million, up 7.5 percent from the first quarter last year. The division also saw a 6 percent bump in casino revenue, which it attributed to favorable hold in Las Vegas and a boost in volumes from PPHOLD a VIP player who frequented several CET properties especially GEEZERS.
     
  3. BCMike

    BCMike VIP Whale

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    I totally don't understand their accounting (as I'm sure many don't). After looking through the earnings report and listening to the conference call, I still don't see how they came to an earnings per share of like $52 in Q1...
     
  4. Kickin

    Kickin Flea

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    Their Q1 was as shitty as expected. The only real organic growth was in their online and social gaming businesses. Yet they've proven over and over to be inept at improving their core business so at this point no one seems to care about their operational results anymore. Just the restructuring, reorg, and wait for new management.
     
  5. tringlomane

    tringlomane STP Addicted Beer Snob

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    [​IMG]
     
  6. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    I received a survey yesterday regarding a new "concept", somewhat like the linq, which is likely for Bally's,

    In terms of revenue reporting, they only tout what they want to tout, as if interest expense, depreciation / amortization expense and taxes do not exist. It will take time for the bankruptcy to flush through the system.
     
  7. Tellafriend

    Tellafriend High-Roller

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    So should we be short or long the traded stock?
     
  8. Ty

    Ty ?

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    If I had to pick one side, I would short. Way too much trouble to dig out of.
     
    Christmas Trip. Sam's Town & MSS
  9. red318is

    red318is Tourist

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    "Earnings: $7.6 billion, compared with a loss of $386 million last year. That includes a gain of $7.96 billion tied to the deconsolidation"

    If I read that correctly, they actually lost $340 million.
     
  10. leo21

    leo21 VIP Whale

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  11. NewOrleansSlimm

    NewOrleansSlimm Low-Roller

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    you mean this survey, i got a few days ago

    cant pay the debtors but can continue to build

    [​IMG]

    [​IMG]
     
  12. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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  13. NewOrleansSlimm

    NewOrleansSlimm Low-Roller

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    it only asked me to select if i would go there if they build it and if i would recommend it to anyone...that was it
     
  14. Krh2o

    Krh2o MIA

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    With all the shuffling of assets and what not I would not start a long or short position on this company. The Bankruptcy judge might make some ruling that will help CZR out at the expense of bond holders and then the stock will rise. This is doubtful but possible. The whole thing is a mess, just stay away. Their results are only good because they opened a few new things that they paid for with debt, and now they aren't making the debt payment. I wish they would break down their results like MGM does by casino. I would love to see the EBITA of their properties and the RevPar per resort.
     
  15. Kickin

    Kickin Flea

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    I honestly have no educated call on this at all.

    All I can say is working in the distressed debt space I know to be very wary about making calls on the equity without knowing what the bondholders are up to.

    The restructuring is what will ultimately decide the fate of CZR and until then its hard to rationalize some of its price moves, some of it is just cowboys playing hunches or bigger investors putting on pair trades.

    If this was a company like Genting, or even Sands or Wynn with operations in Macau, I'd probably be able to get a lot of privileged info. But Caesars which is essentially all domestic isn't anywhere near our wheelhouse as emerging market debt guys. And when it is something I get info on I'm restricted anyway unless I want to find a Wells Notice in my mail.

    (By the way, even if I did have an opinion I don't think I'd want to post it. I have uncles who always ask me for stock picks, even though I repeatedly tell them I'm far removed from equities and especially US equities. But sometimes I'll give them a personal pick, when they make money I might hear a thanks, but when they lose money I hear about it every time I see them. Even in my personal accounts my stock picks probably haven't been too great overall. So for a long time now my equity exposure has been mostly index/mutual funds, some ETFs, etc. and its been a lot better and less stressful.)
     
  16. leo21

    leo21 VIP Whale

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  17. NewOrleansSlimm

    NewOrleansSlimm Low-Roller

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    i didnt say ballys, viva las vegas did...the survery shown up top did not list any specific location other than for CET in las vegas....and i can not answer the why for you as im stumped also


    as for the bazaar shops, "fuel bar" where my friends work is always packed, not a big place and way in the back but always packed and whalburger will be opening in a few months...other than that its kind of a failure as when i walked through it was pretty much dead everywhere but Fuel bar
     
  18. 44inarow

    44inarow VIP Whale

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    Ha, story of my life. I do a fair amount of work for PE funds that buy into distressed companies, and I do a lot of advising in the gaming/casino space, but anything that comes from non-public info, I refuse to discuss. I'm also not even really allowed to hold individual stocks -- it's theoretically permissible, but I need to get clearance for every trade, and if I buy into a company that we later get retained to offer restructuring/bankruptcy advice on, I'm screwed. Mutual funds are much easier.
     
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