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July 22, 2015
Caesars faces bankruptcy after losing key ruling
Caesars, formed through the 2008 buyout of Harrah's Entertainment, has been shuffling casinos and resort properties within the company's corporate family as it struggled with unsustainable debt and mounting losses.
Unsustainable debt? Mounting losses? Are you starting to wonder if my headline was a wee bit sarcastic? While that may be true, I assure you that it isn't quite what you might think!
"There is now the potential that this bankruptcy can get very litigious, complex and long," said David Tawill, president of the Maglan Capital hedge fund.
Very litigious? Complex? Long? The lawyers have hit the jackpot! Bravo!
Hotels: Occupancy Rate Decreased 8.1% Year-over-year due to Easter Timing
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From STR: U.S. hotel results for week ending 19 April
As expected *due to the Easter and Passover holidays*, the U.S. hotel
industry reported negative year...
1 hour ago
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