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Gansevortoonian OUT!!!

Discussion in 'Casino Industry & Development' started by smartone, Oct 19, 2013.

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  1. smartone

    smartone VIP Whale

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  2. thecarve

    thecarve Misanthrope

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    Damn! Hope Caesar's bake sale was a success.:evillaugh
     
    Number 50!
  3. billduhcat

    billduhcat Low-Roller

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    Hopefully they kept all of the Bill's signage.
     
    Big Game 2017 == Vegas XXVI
  4. BlueSkadoo

    BlueSkadoo VMB Sweetheart

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    Time to dig out the Barbary Coast stuff again...
     
  5. jamon7

    jamon7 Low-Roller

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    Thank God!! I hated that name. I wish they would keep it Bills or Barbary Coast. But anything will beat that name.
     
  6. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    Put me down for Drai's :thumbsup:
     
  7. sco5123

    sco5123 VIP Whale

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    How exciting! I wonder if it will still look the same. I like the exterior and drais day club renderings but I hated the brick walls in the bedrooms and hope that that will never be a trend in vegas.
     
  8. vegas3

    vegas3 Low-Roller

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  9. bsnm

    bsnm Tourist

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    Caesars lost their Gansevoort in Las Vegas. :thumbsup:
     
  10. paperposter

    paperposter VIP Whale

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    i dont think it will change a bit ,they car run its self,hook up with morgans or thompson ,there are few brands just like the g if they need too
     
  11. dmr

    dmr Registered Abuser

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    Oh really?

    For some reason, Vladamir "Lefty" and Ivan "The Ant" just doesn't sound right. :)
     
  12. Starz22

    Starz22 Low-Roller

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    no mob ties!!!!!
     
  13. Kickin

    Kickin Flea

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    Jeez that has to be really embarrassing for the Nevada gaming regulators, to have regulators in Massachusetts discover something that they missed about a project they approved in their own back yard.
     
  14. NickyDim

    NickyDim VIP Whale

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    I hope they have the capital to finish the project. Would be a crime to have that place be a construction site on that corner for years. Caesars is hurting, and we're going to have to see some kind of reduction in properties. They're already squeezing what they have, soon they will have to squeeze less.
     
  15. sco5123

    sco5123 VIP Whale

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    Yikes! I don't even want to think of that corner being left undrr construction. They should have left it as Bills. Fun place.
     
  16. Huddler

    Huddler VIP Whale

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    "Caesars owns the property and planned to manage the casino, hotel and food and beverage operations, and the dayclub and nightclub were leased to Drai. Bill's closed in early February 2013 with an anticipated opening in April 2014. What this means for the future of the site is unclear. "

    Ok, so if Caesars was the owner and operator of the casino, hotel, and food and beverage; and the clubs were leased to Drai, what part, other than the name, was Ganoosvort supposed to play? It seems that they were there for branding purposes only?
     
  17. wigwam_salesman

    wigwam_salesman VIP Whale

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    From what I have read they haven't found any proof of anything, but they have made their decision based on conjecture and rumours.

    Obviously, my understanding is purely what the media says it should be. Pinches of salt all around...
     
  18. Kickin

    Kickin Flea

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    Right, no proof but it was an allegation in a German court filing. From the articles out there the MA regulators were raising questions about it but it was just part of the reason they recommended the license be denied in their state. Besides, the due diligence process would lose a lot of credibility if it had to only rely on proof of something shady. They're supposed to be digging into the questions out there about any potential risks, not just things that have already been proven.
     
  19. Gator5220

    Gator5220 Low-Roller

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    Co-Branding was pretty much it for this deal. Cross customer marketing, sharing of customer data bases, a place for the Drai's kids to stay who would otherwise be too cool for a CET property. On the surface it doesn't look like too much if any of the $185 million raised for this project came from Gansevoort.
     
  20. Kickin

    Kickin Flea

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    It raises some interesting questions about that $185mm in financing. Even if it was just a branding deal, its highly likely this triggers some covenant clauses. The lenders probably don't have any incentive to call the loan, but they may be able to change some terms now.
     
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