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Old 02-09-2009, 10:53 AM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,496,245 times
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Also, from article cited above...

"Trump Entertainment Resorts Holdings. (TRMP; about 9,500 employees; stock down 94%). The casino company made famous by The Donald has received several extensions on interest payments, while it tries to sell at least one of its Atlantic City properties and pay down a stack of debt. But with casino buyers scarce, competition circling, and gamblers nursing their losses from the recession, Trump Entertainment may face long odds of skirting bankruptcy."

IMO, in the old days, Trump had other options when his casinos previously filed for bankruptcy..and he came out smiling. Today, things are different. What bank, or financier, in their right minds would be willing to bail out a casino, given today's economic climate????
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Old 02-09-2009, 11:25 AM
 
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Does anyone think that these tales of woe may actually be the casino using "the economy" as an opportunity for (you name it)? Lower interest loans, debt forgiveness, legal shelter...

The only reason I sometimes think this is that the casinos are constantly busy. I was out there two weeks ago & couldn't tell any difference between the spending back in 2005-ish. All seemed well.
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Old 02-09-2009, 11:43 AM
 
Location: South Strip, NV --> Philly (Fall 2009)
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like i said before, they may be still busy, but are people still betting the same, are they still spending the same in the restaurants, are all the rooms occupied, are they still buying concessions at the movies or just buying the tickets, just because it looks busy, doesn't mean that they're actually making a profit...
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Old 02-09-2009, 11:52 AM
 
Location: Beautiful Upstate NY!
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Quote:
Originally Posted by drinkme View Post
Does anyone think that these tales of woe may actually be the casino using "the economy" as an opportunity for (you name it)? Lower interest loans, debt forgiveness, legal shelter...

The only reason I sometimes think this is that the casinos are constantly busy. I was out there two weeks ago & couldn't tell any difference between the spending back in 2005-ish. All seemed well.
Only the bottom-line take can tell. And that take is down, and has been for months. I don't think that the casual casino-goer would be able to gage just by estimating attendance...unless a major casino was as empty as, say, The Wild Wild West casino (Tropicana Ave.) And lets hope that doesn't happen!
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Old 02-09-2009, 02:27 PM
 
Location: Here and there, you decide.
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however, they are still making a profit, granted not as much as before, but its there...
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Old 02-09-2009, 04:06 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,712,096 times
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I was on the strip this past weekend, and its very busy! i'm sure they are still making a profit, but like airics said, its not like before. Its just not going to be the same guys, but we all have to adjust to this economy.
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Old 02-09-2009, 05:00 PM
 
Location: Las Vegas
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Default 15 Companies that may not survive

Including some that have locations here in Las Vegas...Station Casino's as the thread states but also Krispy Kreme, Blockbuster, Trump, Landry's (restaurants), Claire's

15 Companies That Might Not Survive 2009 - Yahoo! Finance (http://finance.yahoo.com/news/15-Companies-That-Might-Not-usnews-14279875.html - broken link)

Landry's owns the Golden Nugget, wondering how that's playing in to all of this, if at all
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Old 02-09-2009, 05:08 PM
 
367 posts, read 817,841 times
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Interestingly enough, Apollo (Claire's, Linen n'Things), mentioned in the article, is also is part-owner of Harrah's.

Casinos may *look* busy but they're making much less in margin due to much cheaper hotel rates, increased comps and coupons.

Hence the hiring and pay freezes, layoffs, and fear of bankruptcy.
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Old 02-09-2009, 05:22 PM
 
Location: Las Vegas
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I agree Jackie, I don't think building Red Rock Station and Aliante Station helped them either...
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Old 02-09-2009, 05:29 PM
 
Location: Here and there, you decide.
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sorry but aliante is not wholy owned by station casinos, neither is green valley ranch.. they are also owned by the greenspun corporation... so i don't these hotels are playing into the mix
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