Heartbreak

by Alan Campbell, Featured Contributor

The news rang out with a bang in Las Vegas that Caesars entertainment group may file bankruptcy. It seems it is carrying a 22B debt load. News report says that when it went private in 2008, it was the wrong time, for the bottom fell out of the economy. There was no one buying properties, or for that matter selling them. Without being able to maneuver any deals, Caesars had to carry the debt load and eventually became too much. I am only going off of what the business news is saying at this time. Caesars has always been a good solid company, I guess even solid companies can have these problems.

I know that Caesars has other properties and investments in other parts of the USA. Some have been closed, while others have been sold. I don’t know what the outcome will be here in Las Vegas. The Revel as you may well know was a 2B property that sold for 110M a bargain to say the least. Will Caesars suffer the same fate? Would it be possible to purchase the Las Vegas Properties for pennies on the dollar? With all of the stores, and restaurants that abound inside Caesars Palace, that may become a mass exodus if bankruptcy becomes a reality.

I sure hope that Caesars Group manages to find a way to fix their financial problems so as not to fall in to the bankruptcy pit. It is trying to infuse cash in order to stay what I will assume is a bankruptcy issue.