Quote:
Originally Posted by venice10
It could be a couple of things. First, PS could be bleeding money after BF and Campos didn't move quick enough to stop the losses. The changing course on the VIP system could have been the final straw.
Next, it could be the goat that is going to take the blame DOJ lawsuits with Scheinberg trying to say that he wasn't involved in the details.
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I think it's a combination. With all the regulated or soon to be regulated markets (France, Italy, Spain, Denmark, Germany & UK) they will need to pay a lot of taxes, which will mean even less money than 'post BF'.
and to kill two birds with one stone, they will probably have a better negotiating position, when then want to settle with the DoJ. But i don't think it's (just) to make him the scape goat.
Scheinberg Sr. (& Jr.) are probably officially gone and with another person in charge, who leaves, PS looks like a complete new firm. So when the market opens, it would be much easier that they will find a partner (e.g Wynn [again]).