Welcome to the ChipTalk Community

Want to join the rest of the ChipTalk members? It is free to sign up today and unlock new features, discussions, and reduce the advertising.

Sign Up

The woes of the economic crises....

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

Page 1 of 2
  1. Felt Lizard

    Felt Lizard Well-Known Member

    Joined:
    May 1, 2008
    Messages:
    544
    Likes Received:
    0
    Location:
    Bigville, Gigantic City
    #1
    Felt Lizard, Mar 13, 2009
  2. Button Potato

    Button Potato World Series Final Table
    Lifetime Supporter

    Joined:
    Oct 6, 2005
    Messages:
    3,791
    Likes Received:
    129
    Location:
    LA / Vegas / Miami CC&GTCC R-7417
    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:
     
    #2
    Button Potato, Mar 13, 2009
  3. jamby

    jamby Creativity Alliance

    Joined:
    Oct 9, 2005
    Messages:
    14,657
    Likes Received:
    349
    Location:
    high, low & in between
    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.
     
    #3
    jamby, Mar 13, 2009
  4. Nexttime

    Nexttime Well-Known Member

    Joined:
    Nov 26, 2005
    Messages:
    3,073
    Likes Received:
    96
    Location:
    Roch cha cha, NY
    More chips on the market!!!!!!!!!!
     
    #4
    Nexttime, Mar 13, 2009
  5. h-train

    h-train Well-Known Member

    Joined:
    Mar 12, 2007
    Messages:
    385
    Likes Received:
    2
    Location:
    Ormond Beach
    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.
     
    #5
    h-train, Mar 13, 2009
  6. EmptyPocs

    EmptyPocs all chips, no cash
    Lifetime Supporter

    Joined:
    May 7, 2006
    Messages:
    7,039
    Likes Received:
    118
    Location:
    the mailbox, waiting...
    That may be fun to say, but unfortunately no one will be buying much this year.
    Or am I just speaking for myself?
     
    #6
    EmptyPocs, Mar 13, 2009
  7. JM

    JM Well-Known Member
    Lifetime Supporter

    Joined:
    Apr 25, 2005
    Messages:
    32,844
    Likes Received:
    370
    Location:
    Massachusetts
    well since the nevada gaming commission requires destruction of the chips, we're out of luck anyway :sad:
     
    #7
    JM, Mar 13, 2009
  8. whataboutj

    whataboutj TAG extrodinare

    Joined:
    Jul 22, 2006
    Messages:
    4,693
    Likes Received:
    120
    Location:
    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
     
    #8
    whataboutj, Mar 13, 2009
  9. Jeff

    Jeff Super Moderator
    Staff Member Lifetime Supporter

    Joined:
    Jul 1, 2007
    Messages:
    3,816
    Media:
    3
    Likes Received:
    191
    Location:
    Chicago 'burbs
    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.
     
    #9
    Jeff, Mar 13, 2009
  10. Button Potato

    Button Potato World Series Final Table
    Lifetime Supporter

    Joined:
    Oct 6, 2005
    Messages:
    3,791
    Likes Received:
    129
    Location:
    LA / Vegas / Miami CC&GTCC R-7417
    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.
     
    #10
    Button Potato, Mar 14, 2009
  11. JM

    JM Well-Known Member
    Lifetime Supporter

    Joined:
    Apr 25, 2005
    Messages:
    32,844
    Likes Received:
    370
    Location:
    Massachusetts
    Word on the streets is that the MGM @ foxwoods is for sale too.
     
    #11
    JM, Mar 14, 2009
  12. EmptyPocs

    EmptyPocs all chips, no cash
    Lifetime Supporter

    Joined:
    May 7, 2006
    Messages:
    7,039
    Likes Received:
    118
    Location:
    the mailbox, waiting...
    go for it
     
    #12
    EmptyPocs, Mar 14, 2009
  13. JM

    JM Well-Known Member
    Lifetime Supporter

    Joined:
    Apr 25, 2005
    Messages:
    32,844
    Likes Received:
    370
    Location:
    Massachusetts
    Hmm, I suppose I could mortgage paulson...
     
    #13
    JM, Mar 14, 2009
  14. jdunford

    jdunford Donkey hunter
    Lifetime Supporter

    Joined:
    Jul 12, 2006
    Messages:
    8,326
    Likes Received:
    104
    Location:
    Ottawa
    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?
     
    #14
    jdunford, Mar 14, 2009
  15. djexacto

    djexacto Well-Known Member

    Joined:
    Oct 15, 2007
    Messages:
    1,330
    Likes Received:
    6
    Location:
    Vancouver, Canada
    Maybe they could be persuaded to do customs...
     
    #15
    djexacto, Mar 14, 2009
  16. JM

    JM Well-Known Member
    Lifetime Supporter

    Joined:
    Apr 25, 2005
    Messages:
    32,844
    Likes Received:
    370
    Location:
    Massachusetts
    How dare you sir! Implying that I don't actually OWN paulson!! :stunned::stunned:


     
    #16
    JM, Mar 14, 2009
  17. EmptyPocs

    EmptyPocs all chips, no cash
    Lifetime Supporter

    Joined:
    May 7, 2006
    Messages:
    7,039
    Likes Received:
    118
    Location:
    the mailbox, waiting...
    the nerve! :mad:
     
    #17
    EmptyPocs, Mar 14, 2009
  18. Button Potato

    Button Potato World Series Final Table
    Lifetime Supporter

    Joined:
    Oct 6, 2005
    Messages:
    3,791
    Likes Received:
    129
    Location:
    LA / Vegas / Miami CC&GTCC R-7417
    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.
     
    #18
    Button Potato, Mar 14, 2009
  19. abby99

    abby99 Admin / Chip Magpie
    Staff Member Lifetime Supporter

    Joined:
    Nov 13, 2006
    Messages:
    12,584
    Albums:
    1
    Likes Received:
    388
    Location:
    Iowa
    Group buy! :wink:
     
    #19
    abby99, Mar 14, 2009
  20. Wooderson

    Wooderson Well-Known Member

    Joined:
    Mar 21, 2005
    Messages:
    2,578
    Likes Received:
    79
    Location:
    Galt's Gultch
    New news...

     
    #20
    Wooderson, Mar 16, 2009
Page 1 of 2

Share This Page

Style
ChipTalk - Dark (Default)