DCC Forced to Move?????

[BmoreMoney]

Caesars Entertainment Operating Group ( subsidiary of Caesars parent group - and owner of many Horseshoe casinos including Southern Indiana ) is facing an involuntary forced chapter 11 bankruptcy which os slated to happen any day.

As with any bankruptcy restructuring one or more of properties may be forced to close or be sold off so who knows

Tunica is scheduled to close for good beginning of June. Lets hope for the best I guess.

 

[Allen Brown]

Well ain't that just great.

 

[gutshot]

They are simply trying to cut debt. Means absolutely nothing in regard to casino closing, layoffs, or the DCC moving. Wishful thinking.

 

[ddadams]

Do you fully understand how bankruptcy works in the US?

 

[lakeman77]

most bankruptcy proceedings move slowly. months not days. doubt the casino will be forced to close soon, unless it is absolutely hemorrhaging cash.

 

[TheBook]

All chapter 11 does is give them the ability to restructure that really means stick it to the money lenders and taxes owed.

 

[Johnnyt]

All chapter 11 does is give them the ability to restructure that really means stick it to the money lenders and taxes owed.

Very true, even though they have fixed a few of the chapter 11 laws. Johnnyt

 

[jspence91]

I think the Derby will be fine this year: http://www.cnbc.com/id/102340128#.

 

[ElLeon]

most bankruptcy proceedings move slowly. months not days. doubt the casino will be forced to close soon, unless it is absolutely hemorrhaging cash.

Interesting. It took GM 3 days to pull through bankruptcy. And they were functionally bankrupt.

 

[Allen Brown]

Interesting. It took GM 3 days to pull through bankruptcy. And they were functionally bankrupt.

I don't think the government will bail out a casino.

 

[lfigueroa]

Caesars Entertainment Operating Group ( subsidiary of Caesars parent group - and owner of many Horseshoe casinos including Southern Indiana ) is facing an involuntary forced chapter 11 bankruptcy which os slated to happen any day.

As with any bankruptcy restructuring one or more of properties may be forced to close or be sold off so who knows

Tunica is scheduled to close for good beginning of June. Lets hope for the best I guess.

Stand at ease. Tunica has already closed.

Caesars has filed but life will go on as normal.

Greg has a contract with IN through 2017. Whatever happens after that is all good. Several nice properties are coming available in downtown Louisville near the convention center.

Lou Figueroa

 

[Renegade_56]

I don't think the government will bail out a casino.

LOL, up to that point no one thought they would bail out car companies either,,,,,,,,,,

 

[Allen Brown]

LOL, up to that point no one thought they would bail out car companies either,,,,,,,,,,

You are right. I should've said that the government hasn't bailed them out YET.:thumbup:

 

[Cardigan Kid]

I think the Derby will be fine this year: http://www.cnbc.com/id/102340128#.

For a brief moment, I got super excited as I read your link "cnbc" and thought "wow, the Derby made it to a huge national news source!"

Then I clicked on it. Oh well.

 

[sjm]

As long as they stay open until the Derby is over, I guess it's OK.

Chapter 11 is not the end, it is usually just the beginning of the end in which the primary focus is reorganization of debt obligations.

Still, I like the Horseshoe a lot and hope they'll pull through.

 

[CJ Wiley]

Donald Trump has done it numerous times in the Casino business.

Chapter 11 is REORGANIZATION, and Donald Trump has done it numerous times in the Casino business.

It's a ordinary part of the business, and they will not close anytime soon, and if the DCC is profitable, it will continue to be welcomed.

 

[FranCrimi]

Only 25 percent of companies that file Chapter 11 survive. And most of that 25 percent survived because they were either acquired by or merged into larger companies.

 

[CJ Wiley]

It's not an unusual strategy for muli-million/billion dollar entities

Only 25 percent of companies that file Chapter 11 survive. And most of that 25 percent survived because they were either acquired by or merged into larger companies.

I agree, we went through this process with one of our corporations, and although we came out of it the regulations are very challenging. It's not an unusual strategy for muli-million/billion dollar entities like Casinos, Night-Clubs - the country was forced to something similar in 2008 (car co's, high tech industries, and the housing industry).

 

[stevelomako]

Only 25 percent of companies that file Chapter 11 survive. And most of that 25 percent survived because they were either acquired by or merged into larger companies.

Sweet!

Do you think I should use all my comps and hotel offers up in this case or should I take a chance and hold on to them for when I really want to use them?

I lost a ton on Poker Stars and Full Tilt so I'm willing to gamble if you say so.

 

[realkingcobra]

Caesars Entertainment Operating Group ( subsidiary of Caesars parent group - and owner of many Horseshoe casinos including Southern Indiana ) is facing an involuntary forced chapter 11 bankruptcy which os slated to happen any day.

As with any bankruptcy restructuring one or more of properties may be forced to close or be sold off so who knows

Tunica is scheduled to close for good beginning of June. Lets hope for the best I guess.

I fail to understand why gossip has more credibility than finding out and stating the facts when making statements like you just posted other than finding out the facts takes real time and effort. It's so much easier to just say...."I heard, or read"