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When Caesars exits bankruptcy, better or worse for players?

Discussion in 'Comps' started by SteveAC01, Sep 27, 2016.

  1. SteveAC01

    SteveAC01 Tourist

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    Latest CET headline (9-27-2016): Caesars reaches Restructuring Deal with its Major Creditors.
    With this huge hurdle behind them, CET will probably exit from bankruptcy in early 2017.
    Now I'm wondering if Caesars will become looser or tighter in comps. My guess is tighter.

    With the threat of civil and criminal charges behind them, the primary stockholders - Apollo Global Management and TPG Capital - will probably direct worse player conditions.
    They'll be trying to rapidly recover the billions they had to give back to the creditors they defrauded.

    Conversely, they could take the longer-term view and decide "We survived the major threat. Now let's push to grab some market share and grow the business."
    But I doubt it. These corporate vampires don't think that way.
    Either way, interesting times ahead.
    SteveAC01
     
  2. Nevyn

    Nevyn VIP Whale

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    Probably little if any effect either way.
     
    • Agree Agree x 1
  3. wanker751

    wanker751 Dutch Rudder Enthusiast

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    The only way that it will be better for players is if they [unlikly] sell some properties creating more competition on the strip.
     
    Downtown - Wanker Returns after baby!
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    • Agree Agree x 3
  4. MikeOPensacola

    MikeOPensacola VIP Whale

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    This is exactly what I would love to see.
     
    Annual Summer Bliss in the Land of Milk and Honey!!!
    • Agree Agree x 1
  5. leo21

    leo21 VIP Whale

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    Wow. Just Wow. The private equity jerks are getting the asses handed to them. Their ownership stake is going to drop 16%. And this doesn't even settle all lawsuits. Impact on customers: I don't know. It probably depends on what the balance sheet looks like after this is all said and done seeing as the debt they are acquiring for the new construction projects is probably not including in the bankruptcy. My gut says they are going to copy MGM to their detriment.
     
  6. vegasdev

    vegasdev Low-Roller

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    as time marches on, bankruptcy or not, things seem to only get worse for players. :vomit:
     
    • Agree Agree x 3
  7. tex55

    tex55 Low-Roller

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    I doubt it will be better for gamblers. The current trend of focusing on non-gaming revenue is likely to continue. I do like the idea mentioned above that CET will have to sell some casinos, creating some competition on the Strip.
     
  8. sybgal

    sybgal VIP Whale

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    They have already changed the rules on bar top VP getting free drinks...must earn them by playing max at a certain pace for the light to go off alerting the bartender comp ok...
     
  9. shokhead

    shokhead I'm no big spender!

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  10. shokhead

    shokhead I'm no big spender!

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    Sell the Rio. It makes the most sense!
     
    Here we go again!
  11. vegasdev

    vegasdev Low-Roller

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    I agree. they have really let it go with that "deferred maintenance" crap they started years ago. it looks dull and dilapidated.
     
  12. shokhead

    shokhead I'm no big spender!

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    Wouldn't be the same as MGM selling TI?
     
    Here we go again!
  13. grosx2

    grosx2 VIP Whale

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    It's a shame too, I really like the casino floor, the sports book and sports deli are great, and the masquerade village w/ the show in the sky used to be awesome.
     
  14. wanker751

    wanker751 Dutch Rudder Enthusiast

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    That my favorite place to play.... now it is just sad
     
    Downtown - Wanker Returns after baby!
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  15. dmr

    dmr Registered Abuser

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    I think it's safe to say that things will not get better for the player, at CET or elsewhere, until there is some kind of a slowdown in their business.
     
  16. zenvegas

    zenvegas Low-Roller

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    Aren't we still in the middle of the slowdown. Years ago, the casino companies decided to shut down profitable casinos to build $4 billion dollar mega resorts that could never pay their way. They're still losing their shirts (CET, MGM). I don't think conditions will ever improve. The accountants run the show now. It's all about bottom line. Nothing in the past with respect to how the casinos operated will be repeated. It's changed from a people business to a get your hand in as many pockets as you can and pay them back with lip service. Cynical, yes.