Video: Caesars Entertainment Conference call: BANKRUPTCY!!!
Category: General
Uploader: JSTAT

Quote:

Originally Posted by JSTAT

A masked JSTAT is disgusted with Caesars Entertainment's CEO Gary Loveman's statement of "deleveraging", which is to say bankruptcy is imminent after shifting its profitable assets to shell companies on Caesars 11/10/14 conference call. Caesars Entertainment Operating Company (CEOC) or Caesars Entertainment Corporation (NASDAQ: CZR) has rearranged the deck chairs of the Titanic for its imminent bankruptcy by adding spin-off companies Caesars Entertainment Resort Properties ("CERP") and Caesars Growth Partners, LLC ("CGP") to its third quarter 2014 balance sheet. A 3 card monte game where former profitable CZR properties are protected during a future bankruptcy.

Caesars (CZR) integrated the Total Rewards loyalty program into CIE's (Caesars Interactive Entertainment) real-money online gaming platform (which includes the World Series of Poker (WSOP), Horseshoe Baltimore Casino, and Planet Hollywood (Las Vegas Strip) into Caesars Growth Partners (CGP).

CERP owns Bally's,The Cromwell, The LINQ, The High Roller Ferris Wheel, and Harrah's New Orleans.

When Caesars Entertainment files for bankruptcy, bond holders such as public pensions CalSTRS (California State Teachers' Retirement System) and CalPERS (California Public Employees' Retirement System) stands to lose all of its investment in Caesars Entertainment (CZR). The taxpayers will get the shaft while Caesars private equity owners Apollo Global Management and TPG Capital will get the gold.

I just read the Caesars Entertainment's SEC 10-C Quarterly Report released today and a few changes are in order in regards the shell companies Caesars has "sold" to its subsidiaries. Here are the correct changes according the Empire...

Caesars (CZR) integrated the Total Rewards loyalty program into CIE's (Caesars Interactive Entertainment) real-money online gaming platform (which includes the World Series of Poker - WSOP) into Caesars Growth Partners (CGP) along with Horseshoe Baltimore Casino (co-owned with Dan Gilbert's Rock Gaming), Bally's Las Vegas, The Cromwell Las Vegas, Harrah's New Orleans, Planet Hollywood Las Vegas, The LINQ Hotel & Casino.

Caesars Entertainment Resort Properties (CERP) owns The Flamingo Las Vegas, Harrah's Atlantic City, Harrah's Las Vegas, Harrah's Laughlin, Paris Las Vegas, and Rio All-Suites Hotel & Casino in Las Vegas

When Caesars Entertainment (CEOC) files for Chapter 11 Bankruptcy, it will be left domestically in the United States with Bally’s Atlantic City, Harrah’s Reno, Caesars Atlantic City, Harveys Lake Tahoe, Caesars Palace Las Vegas, Horseshoe Bossier City, Harrah's Gulf Coast, Horseshoe Council Bluffs, Horseshoe Hammond, Harrah’s Joliet, Horseshoe Southern Indiana, Harrah’s Lake Tahoe, Horseshoe Tunica, Harrah’s Metropolis, Hot Spot Oasis, Harrah’s North Kansas City, Louisiana Downs, Harrah’s Philadelphia, and Tunica Roadhouse.