As everyone with above a second grade education should know....... it is mathematically impossible to get in financial trouble running casinos...... EXCEPT........ either through theft or horrible mismanagement.
Caesars showed huge ignorance by continued building and expansion as the economy began to allow fewer disposable dollars for families.
But..... more than likely..... and we will never completely understand how this works...... Caesars is probably simply pulling a "Trump". By that I mean reorganizing things to their advantage by bullshitting the law and making more money in the process. If you remember, Trump supposedly went bankrupt multiple times "on the casino portion" of his empire. Amazing how rich people get away with this shit!
Caesars showed huge ignorance by continued building and expansion as the economy began to allow fewer disposable dollars for families.
But..... more than likely..... and we will never completely understand how this works...... Caesars is probably simply pulling a "Trump". By that I mean reorganizing things to their advantage by bullshitting the law and making more money in the process. If you remember, Trump supposedly went bankrupt multiple times "on the casino portion" of his empire. Amazing how rich people get away with this shit!
These casinos have issues with debt all the time and have to restructure. I'm not sure why it is so prevalent in that industry, would have to research it but it happened with Stations and MGM a few years back, the Maloofs were cash broke before selling most of their ownership of the Palms, now Caesars.
Then everything in AC.
Then everything in AC.
I do think it is a tough industry compared to previous years. Getting people to sitdown and play a fixed game with no real strategy and slowly taking 1-2% from them over time probably wasn't going to be a growing business forever.
Hence why you see more entertainment options at the casinos than ever.
Hence why you see more entertainment options at the casinos than ever.
