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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Caesars Entertainment about to go under
Posted by:
Rolling the Dice
()
Date: July 22, 2015 04:05PM
http://money.cnn.com/2015/07/22/news/companies/caesars-bankruptcy-court/index.html?iid=hp-stack-dom
The Las Vegas-based casino operator, filed for Chapter 11 bankruptcy protection on Jan. 15, but only for part of its debt.
Caesars is hoping the judge will dismiss the lawsuits, because that could save the rest of the company from sinking into bankruptcy as well.
Caesars said on Monday that it's trying to make a deal with creditors by offering them up to $400 million, which is only a tiny fraction of the $10 billion in debt it is trying to erase through bankruptcy.
Caesars (CZR) has $18.4 billion in total debt.
If it can restructure $10 billion of that debt, it would reduce its annual interest payments to $450 million from $1.7 billion.
The stock fell 22% on Wednesday.
The Las Vegas-based casino operator, filed for Chapter 11 bankruptcy protection on Jan. 15, but only for part of its debt.
Caesars is hoping the judge will dismiss the lawsuits, because that could save the rest of the company from sinking into bankruptcy as well.
Caesars said on Monday that it's trying to make a deal with creditors by offering them up to $400 million, which is only a tiny fraction of the $10 billion in debt it is trying to erase through bankruptcy.
Caesars (CZR) has $18.4 billion in total debt.
If it can restructure $10 billion of that debt, it would reduce its annual interest payments to $450 million from $1.7 billion.
The stock fell 22% on Wednesday.
Re: Caesars Entertainment about to go under
Posted by:
Money for nothing
()
Date: July 22, 2015 04:21PM
Casinos going under in Vegas and Atlantic City yet the dumbasses in Maryland keep building more!
Re: Caesars Entertainment about to go under
Posted by:
Casinos Everywhere!
()
Date: July 22, 2015 04:41PM
Money for nothing Wrote:
-------------------------------------------------------
> Casinos going under in Vegas and Atlantic City yet
> the dumbasses in Maryland keep building more!
The casinos in Atlantic City are going under specifically because they're building, or have built, casinos in West Virginia, Delaware, Pennsylvania, and Maryland.
-------------------------------------------------------
> Casinos going under in Vegas and Atlantic City yet
> the dumbasses in Maryland keep building more!
The casinos in Atlantic City are going under specifically because they're building, or have built, casinos in West Virginia, Delaware, Pennsylvania, and Maryland.
Re: Caesars Entertainment about to go under
Posted by:
Steve Wynn
()
Date: July 22, 2015 04:55PM
Casinos Everywhere! Wrote:
-------------------------------------------------------
> Money for nothing Wrote:
> --------------------------------------------------
> -----
> > Casinos going under in Vegas and Atlantic City
> yet
> > the dumbasses in Maryland keep building more!
>
> The casinos in Atlantic City are going under
> specifically because they're building, or have
> built, casinos in West Virginia, Delaware,
> Pennsylvania, and Maryland.
Guess what Maryland? All those casinos in your neighboring states are not going away. Can't wait for crime to hit National Harbor after the MGM opens. We can have our very own decrepit Atlantic City right here on the Potomac!
-------------------------------------------------------
> Money for nothing Wrote:
> --------------------------------------------------
> -----
> > Casinos going under in Vegas and Atlantic City
> yet
> > the dumbasses in Maryland keep building more!
>
> The casinos in Atlantic City are going under
> specifically because they're building, or have
> built, casinos in West Virginia, Delaware,
> Pennsylvania, and Maryland.
Guess what Maryland? All those casinos in your neighboring states are not going away. Can't wait for crime to hit National Harbor after the MGM opens. We can have our very own decrepit Atlantic City right here on the Potomac!
Re: Caesars Entertainment about to go under
Posted by:
VdcvT
()
Date: July 22, 2015 05:05PM
It amazes me how these Casino owners and developers convince local communities they will all get rich if you let us build the casino. Instead, they are turned into hell holes like Vegas and AC and eventually have to be bailed out.
Re: Caesars Entertainment about to go under
Posted by:
rtdc
()
Date: July 22, 2015 05:08PM
Steve Wynn Wrote:
-------------------------------------------------------
> Casinos Everywhere! Wrote:
> --------------------------------------------------
> -----
> > Money for nothing Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Casinos going under in Vegas and Atlantic
> City
> > yet
> > > the dumbasses in Maryland keep building more!
> >
> > The casinos in Atlantic City are going under
> > specifically because they're building, or have
> > built, casinos in West Virginia, Delaware,
> > Pennsylvania, and Maryland.
>
> Guess what Maryland? All those casinos in your
> neighboring states are not going away. Can't wait
> for crime to hit National Harbor after the MGM
> opens. We can have our very own decrepit Atlantic
> City right here on the Potomac!
I'm not a gambler but won't go near the MGM for safety reasons. I can predict it will turn into Dodge City in a very short period of time.
-------------------------------------------------------
> Casinos Everywhere! Wrote:
> --------------------------------------------------
> -----
> > Money for nothing Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Casinos going under in Vegas and Atlantic
> City
> > yet
> > > the dumbasses in Maryland keep building more!
> >
> > The casinos in Atlantic City are going under
> > specifically because they're building, or have
> > built, casinos in West Virginia, Delaware,
> > Pennsylvania, and Maryland.
>
> Guess what Maryland? All those casinos in your
> neighboring states are not going away. Can't wait
> for crime to hit National Harbor after the MGM
> opens. We can have our very own decrepit Atlantic
> City right here on the Potomac!
I'm not a gambler but won't go near the MGM for safety reasons. I can predict it will turn into Dodge City in a very short period of time.
Re: Caesars Entertainment about to go under
Posted by:
Low Stakes Gamblers Stay Away
()
Date: July 22, 2015 06:30PM
rtdc Wrote:
-------------------------------------------------------
> I'm not a gambler but won't go near the MGM for
> safety reasons. I can predict it will turn into
> Dodge City in a very short period of time.
Revenue from slot machines is taxed at a much higher rate than that from table games. The tax rate on slots profits is 61%, versus 21% on table games.
The predictable consequence is that most casinos are dumping slots for table games. Further, I predict you're not going to see a lot of $5 and $10 buy-in tables at MGM National Harbor.
This is going to keep most of the low-rent gamblers away. You're not going to see someone walking in with $200, because that $200 will be gone in 15 minutes.
-------------------------------------------------------
> I'm not a gambler but won't go near the MGM for
> safety reasons. I can predict it will turn into
> Dodge City in a very short period of time.
Revenue from slot machines is taxed at a much higher rate than that from table games. The tax rate on slots profits is 61%, versus 21% on table games.
The predictable consequence is that most casinos are dumping slots for table games. Further, I predict you're not going to see a lot of $5 and $10 buy-in tables at MGM National Harbor.
This is going to keep most of the low-rent gamblers away. You're not going to see someone walking in with $200, because that $200 will be gone in 15 minutes.
Re: Caesars Entertainment about to go under
Posted by:
WUT?
()
Date: July 22, 2015 06:43PM
Did Ten billion dollars in debt just sneak up on them?
Re: Caesars Entertainment about to go under
Posted by:
Brat Pack
()
Date: July 22, 2015 09:36PM
Low Stakes Gamblers Stay Away Wrote:
-------------------------------------------------------
> rtdc Wrote:
> --------------------------------------------------
> -----
> > I'm not a gambler but won't go near the MGM for
> > safety reasons. I can predict it will turn into
> > Dodge City in a very short period of time.
>
> Revenue from slot machines is taxed at a much
> higher rate than that from table games. The tax
> rate on slots profits is 61%, versus 21% on table
> games.
>
> The predictable consequence is that most casinos
> are dumping slots for table games. Further, I
> predict you're not going to see a lot of $5 and
> $10 buy-in tables at MGM National Harbor.
>
> This is going to keep most of the low-rent
> gamblers away. You're not going to see someone
> walking in with $200, because that $200 will be
> gone in 15 minutes.
The reason slot machines are dying off is not taxes, it's nobody is playing them anymore. The industry is facing big problems.
http://msbusiness.com/2015/05/coming-of-age-casinos-look-to-millennials-for-the-survival-of-gaming/
-------------------------------------------------------
> rtdc Wrote:
> --------------------------------------------------
> -----
> > I'm not a gambler but won't go near the MGM for
> > safety reasons. I can predict it will turn into
> > Dodge City in a very short period of time.
>
> Revenue from slot machines is taxed at a much
> higher rate than that from table games. The tax
> rate on slots profits is 61%, versus 21% on table
> games.
>
> The predictable consequence is that most casinos
> are dumping slots for table games. Further, I
> predict you're not going to see a lot of $5 and
> $10 buy-in tables at MGM National Harbor.
>
> This is going to keep most of the low-rent
> gamblers away. You're not going to see someone
> walking in with $200, because that $200 will be
> gone in 15 minutes.
The reason slot machines are dying off is not taxes, it's nobody is playing them anymore. The industry is facing big problems.
http://msbusiness.com/2015/05/coming-of-age-casinos-look-to-millennials-for-the-survival-of-gaming/
Re: Caesars Entertainment about to go under
Posted by:
whor runs these places?
()
Date: July 22, 2015 09:57PM
> Caesars (CZR) has $18.4 billion in total debt.
>If it can restructure $10 billion of that debt,
>it would reduce its annual interest payments
> to $450 million from $1.7 billion.
Sounds more like a bad financing decision with their bank, not a slot machine or tax problem. Who could owe 1.7 billion a month from installing too many slot machines? These investors are getting raked for dumb decisions.
>If it can restructure $10 billion of that debt,
>it would reduce its annual interest payments
> to $450 million from $1.7 billion.
Sounds more like a bad financing decision with their bank, not a slot machine or tax problem. Who could owe 1.7 billion a month from installing too many slot machines? These investors are getting raked for dumb decisions.
Re: Caesars Entertainment about to go under
Posted by:
Yucky24.
()
Date: July 22, 2015 10:03PM
Who cares? Nobody with an IQ over 110 is stupid and trashy enough to visit a casino. Casinos are dying. That's why Las Vegas is transitioning into becoming a mecca for parties and dance clubs because nobody wants to go to casinos anymore.
Re: Caesars Entertainment about to go under
Posted by:
MGM is Grand
()
Date: July 22, 2015 10:12PM
Steve Wynn Wrote:
-------------------------------------------------------
> Casinos Everywhere! Wrote:
> --------------------------------------------------
> -----
> > Money for nothing Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Casinos going under in Vegas and Atlantic
> City
> > yet
> > > the dumbasses in Maryland keep building more!
> >
> > The casinos in Atlantic City are going under
> > specifically because they're building, or have
> > built, casinos in West Virginia, Delaware,
> > Pennsylvania, and Maryland.
>
> Guess what Maryland? All those casinos in your
> neighboring states are not going away. Can't wait
> for crime to hit National Harbor after the MGM
> opens. We can have our very own decrepit Atlantic
> City right here on the Potomac!
Hopefully this will be what happens to Maryland Live! once the MGM opens, because that place is already a shithole. MGM runs a pretty tight ship and knows they'll have to keep the riff-raff run off in order to draw in their (hopefully) lighter clientele from the DC metro area and beyond.
-------------------------------------------------------
> Casinos Everywhere! Wrote:
> --------------------------------------------------
> -----
> > Money for nothing Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Casinos going under in Vegas and Atlantic
> City
> > yet
> > > the dumbasses in Maryland keep building more!
> >
> > The casinos in Atlantic City are going under
> > specifically because they're building, or have
> > built, casinos in West Virginia, Delaware,
> > Pennsylvania, and Maryland.
>
> Guess what Maryland? All those casinos in your
> neighboring states are not going away. Can't wait
> for crime to hit National Harbor after the MGM
> opens. We can have our very own decrepit Atlantic
> City right here on the Potomac!
Hopefully this will be what happens to Maryland Live! once the MGM opens, because that place is already a shithole. MGM runs a pretty tight ship and knows they'll have to keep the riff-raff run off in order to draw in their (hopefully) lighter clientele from the DC metro area and beyond.
Re: Caesars Entertainment about to go under
Posted by:
......
()
Date: July 22, 2015 10:22PM
I personally cant wait.
Everyone thinks they can play poker.
I do have a weakness for roulette though.
Everyone thinks they can play poker.
I do have a weakness for roulette though.