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The woes of the economic crises....

Discussion in 'Poker News' started by Felt Lizard, Mar 13, 2009.

  1. Felt Lizard

    Felt Lizard Well-Known Member

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  2. Button Potato

    Button Potato World Series Final Table
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    Sadly - we may see a bankruptcy very soon for MGM MIRAGE. They were unable to refinance their revolving operational credit line. Sad times in Sin City.<O:razz:</O:razz:<O:razz:</O:razz:
     
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  3. jamby

    jamby Creativity Alliance

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    That is sad news. Just read last week that the privately owned Station Casinos chain is in even more trouble than previously reported too and may not make it through '09.
     
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  4. Nexttime

    Nexttime Well-Known Member

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    More chips on the market!!!!!!!!!!
     
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  5. h-train

    h-train Well-Known Member

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    I was just getting ready to buy a package deal to Bally's, I'm now rethinking this since I would be paying up front.
     
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  6. EmptyPocs

    EmptyPocs all chips, no cash
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    That may be fun to say, but unfortunately no one will be buying much this year.
    Or am I just speaking for myself?
     
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  7. JM

    JM Well-Known Member
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    well since the nevada gaming commission requires destruction of the chips, we're out of luck anyway :sad:
     
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  8. whataboutj

    whataboutj TAG extrodinare

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    on the wayyy negative side of varince
    A Bancrupcy for MGM/Mirage would be a resturcturing Banrupcy I assume, not a "Close the doors" version. Either way it is not good but I can't see the MGM/Mirage hotels closing their doors any time soon
     
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  9. Jeff

    Jeff Super Moderator
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    This is not the first downturn that has trapped Station Casinos, they were teetering in prior difficult economic times. Mr. Trump has a long history of stiffing his creditors. This too shall pass as will the rest of our economic woes.
     
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  10. Button Potato

    Button Potato World Series Final Table
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    I don't think it will be either - it will probably be a break-up and sale of assets. Sadly it appears that they are considering selling Bellagio to the highest bidder. They already have an agreement in place to sell Treasure Island.
     
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  11. JM

    JM Well-Known Member
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    Word on the streets is that the MGM @ foxwoods is for sale too.
     
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  12. EmptyPocs

    EmptyPocs all chips, no cash
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    go for it
     
    #12
  13. JM

    JM Well-Known Member
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    Hmm, I suppose I could mortgage paulson...
     
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  14. jdunford

    jdunford Donkey hunter
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    I doubt you'd qualify for a mortgage right now (and by "you" I mean Paulson). With all the casinos on the verge of bankruptcy, I can't imagine many are replacing their racks right now... so Paulson's revenue must be ~0 right now.

    Hmmm... so who's really going to buy Paulson when they go up for sale over the next few months?
     
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  15. djexacto

    djexacto Well-Known Member

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    Maybe they could be persuaded to do customs...
     
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  16. JM

    JM Well-Known Member
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    How dare you sir! Implying that I don't actually OWN paulson!! :stunned::stunned:


     
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  17. EmptyPocs

    EmptyPocs all chips, no cash
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    the nerve! :mad:
     
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  18. Button Potato

    Button Potato World Series Final Table
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    I know that you guys know but anyone can own Paulson - they are listed on the NASDAQ (GPIC). By the way, their stock is actually up YTD.
     
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  19. abby99

    abby99 Admin / Chip Magpie
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    Group buy! :wink:
     
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  20. Wooderson

    Wooderson Well-Known Member

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    New news...

     
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