Official: Horseshoe Casino

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skinzfan23
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Re: Official: Horseshoe Casino

Postby skinzfan23 » Fri Nov 14, 2014 7:58 am


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Omaha_Gabe
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Re: Official: Horseshoe Casino

Postby Omaha_Gabe » Fri Dec 12, 2014 8:29 am

Rumor has it that this casino is filing bankruptcy

GRANDPASMUCKER
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Re: Official: Horseshoe Casino

Postby GRANDPASMUCKER » Fri Dec 12, 2014 10:19 pm

Omaha_Gabe wrote:Rumor has it that this casino is filing bankruptcy


That's a ridiculous rumor for sure. This is one of the most profitable casinos in the Midwest.

EastCB
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Re: Official: Horseshoe Casino

Postby EastCB » Sat Dec 13, 2014 8:02 am

I read an article that said the company would file soon. Can't remember where I saw it though. :(

GRANDPASMUCKER
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Re: Official: Horseshoe Casino

Postby GRANDPASMUCKER » Sat Dec 13, 2014 9:13 am

I asked my friend Google and he said the parent company of Horseshoe famously known as Caesar’s Entertainment is loosing money and looking hard at bankruptcy. I would say that the mob must have some of its guys working in the cash rooms of the casinos skimming off money but I wont because Tony Soprano might send some of his guys out to beat the |expletive| out of me!

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Omababe
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Re: Official: Horseshoe Casino

Postby Omababe » Mon Dec 15, 2014 7:28 am

The CET bankruptcy is not news. Don't expect anything to close, it's strictly a business move. Their bean counters simply have more red beans than black beans and this is the tool of their choice for managing that condition.

It is expected that some of their lower-performing properties may be sold to generate some quick $$$$$.

Greg S
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Re: Official: Horseshoe Casino

Postby Greg S » Wed Dec 17, 2014 2:53 pm

GRANDPASMUCKER wrote:
Omaha_Gabe wrote:Rumor has it that this casino is filing bankruptcy


That's a ridiculous rumor for sure. This is one of the most profitable casinos in the Midwest.


There is some massive debt weighing down the parent company, primarily from when the company was taken private. It also hurt them when they were not selected to enter the Macau market.


Greg

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Omababe
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Re: Official: Horseshoe Casino

Postby Omababe » Thu Dec 18, 2014 6:02 am

Latest speculation has it that they are looking to sell the Rio in Las Vegas to get some quick cash, as well as lower-performing properties in other locations. I'm wondering if Harrah's over in CB might be in those plans?

lisanstan
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Re: Official: Horseshoe Casino

Postby lisanstan » Tue Dec 23, 2014 6:08 pm

Greg had it right. Our debt from going private and then the economy crashing killed us as well as missing out on Macau. We filed Chapter 11.

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jessep28
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Re: Official: Horseshoe Casino

Postby jessep28 » Tue Dec 23, 2014 6:27 pm

Chapter 11 bankruptcy is just reorganization.

Maybe it's because they're private companies, but I'm surprised that we don't hear of more of these leveraged buyout firms going bankrupt.
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Omababe
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Re: Official: Horseshoe Casino

Postby Omababe » Wed Dec 24, 2014 6:43 am

Latest chatter on the LV talk boards is that two Caesars companies will merge, giving them a better footing to manage debt. No immediate changes from a gaming customer point of view are said to be on the horizon.

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nebugeater
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Re: Official: Horseshoe Casino

Postby nebugeater » Thu Jan 15, 2015 6:49 am

Caesars Files For Bankruptcy, Bluffs Casinos Included
http://www.wowt.com/home/headlines/Caes ... 53571.html" onclick="window.open(this.href);return false;


Caesars Entertainment, the owner of dozens of casinos across the U.S., filed for bankruptcy protection early Thursday morning. The filing may affect jobs here in the heartland.

The company owns 53 properties, and 18 of them were included in the Chapter 11 bankruptcy filing. Two of the 18 are located in Council Bluffs: Harrah's Council Bluffs and Horseshoe Council Bluffs.

Caesars says the voluntary filing gives companies a chance to restructure their businesses to restore their finances without being forced into bankruptcy.
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