It’s Sh*t You May Have Missed for the week ending 9/2/2016…
Hey all BigAZMarty here with this weeks news, enjoy!
1. Last Friday Caesars Entertainment was told nope, no more parent company lawsuit protection from Bankruptcy Judge (after many many many warnings it would occur). Bondholders were rushing for a judgment from the New York lawsuit when an appeals judge put a five-week hold on the lawsuits (and also told Caesars Entertainment that they are facing an uphill battle). Read here. Motley Fool has said what will probably happen (and already has started to reflect in stock prices) here. I personally think they will kick the can as far as they can down the road until the road ends or they finally bite the bullet and give the junior bondholders enough to get the lawsuits canceled as part of the bankruptcy settlement. Furthermore, the RSA to the Junior Creditors/Bondholders ran out on July 31, but Caesars Entertainment was letting it ride until today. Not sure what they are expecting to do now…except hope for a miracle. The Bankruptcy Judge has said before they can bring in everything (all non-bankrupt divisions as well as the CEC Master Holding company) and just auction it all off fire sale style. Indian Casino’s would be exempt as the Indian’s own those casinos and have a management contract to Harrah’s for the Hotel and Casino operations…those can be switched to another company fairly quickly. Just think the 3rd largest casino owner in Las Vegas suddenly goes belly up and everything is auctioned….what would stay as is with current names and what would be leveled and made into something new? Mind boggling, all the possibilities.
2. Las Vegas has lost probably the one person behind the scene’s that helped create the past and current Las Vegas. E. Parry Thomas was the one man people in Las Vegas could go to when other banks and investors would not provide funds. He worked with Wynn and Gaughan as well as Howard Hughes. Read LVRJ articles here, and here. And the LV Sun article here. Sometimes you just need a local money man who is interested in making the city they live and work in better; a modern version would be Tony Hsieh and the Downtown Project (but he’s doing it on a much smaller scale).
4. Nevada Casino’s pull in $1B for July read here. Very nice.
5. Alon refutes rumors that after the Packer stock moves with Crown that it was “over” at the Alon site. Read LVRJ article here. Tell you what…someone come up with a bet. Whoever gets their casino constructed, and open wins the goodwill of Las Vegas (yup talking to both Alon and Resorts World exec’s…no reason for dirt lots or partially constructed buildings if you are part of a 1B a month business). Oh, I guess we have to throw in Icahn’s Blue Elephant…which still has no news on a buyer.
6. LVRJ is actually reporting the Cosmo/MGM drink voucher lameness. Eventually, they will wonder why no one is playing and take the bars out next…(same ridiculous logic). Read here. Scroll down and also read that Donnie and Jennie are staying in Las Vegas for their 2nd Honeymoon and will eat at Wahlburgers. I suggest the long lines in the hot sweltering sun so they can get the full LV summer street experience. Vital Vegas beat LVRJ to the punch while covering the Chandelier Bar re-opening here with a nice gallery of the bar.
7. Eater Las Vegas is reporting new Big Mess BBQ at Sam’s Town to open over Labor Day weekend. Sounds good but I notice something missing that all great BBQ joints have….a paper towel holder in addition to napkins table side. Read here.
8. Vital Vegas reports downtown’s La Bayou Casino is going…going gone. I still have no idea how they are going to get around the transformer tree fort in the alley between the Golden Gate and that now empty area. See and read here. Personally, I think if they want to they could build out the first floor of Golden Gate casino, and move those transformers somewhere else. Then, put in a nice pool day club on the roof for those old Golden Gate rooms to look down on and enjoy (transformer tree house is not a good view…and prevents any water in the area). I love that they didn’t even take down the bulletin board…anyone have a close up photo of that?
9. Vegas Inc. has come out with its casino ranking list by square feet, MGM Resorts #1, Stations Casino (or Red Rock Resorts) #2 and Caesars #3…interesting if you add all the Aliante, Cannery, and Boyd together they will move Caesars down to #4 soon. List here.
10. Another new site is in the news for the Raiders Stadium; no one saw this one coming as it’s a bunch of bank parcels and across the I-15 (west side) from Mandalay Bay. Read the LVRJ article here. Adelson is actually going to kick in some change (less than taxpayer expected $750 million, but he’s going to kick in $650 million) to build it as well as reported by LVRJ here. More discussed here as well as the fact the Bali Hai golf course is still in play as a possible site. See renderings here. Also, notice that all this is reported from Adelson’s newspaper? Things that make you go hmmmmm.
11. This is a pretty good collection of what is happening over Labor Day Weekend with the expected 300,000-plus visitors coming into town, read here. Smashmouth at Fremont Street Experience should be a good show.
12. Speaking of downtown, Eater Vegas has reported (less than two months since it opened) that the Plaza Pool Food Truck was shut down for inadequate refrigeration, read here. I wonder if they will now have to crane it back off the pool deck to get it fixed?
Well, that’s it for around the web Las Vegas news this week, hope you all are heading to our favorite town for the long holiday weekend.
Now without further ado, our editor-in-chief Michael Movestro for our news and beyond!
Thanks, BigAzMarty, I appreciate it as always! Well, folks, we’ve come to the last three-day weekend of the summer, so be sure to make it the best one ever! That said here are the stories we brought you this week:
13. The week started on Sunday with the Vegas Bright Podcast Episode 16: Vegas Musts — which is also our new Author For a Day Challenge. We’ll put up an article next week for those that don’t listen to the podcast.
14. Blonde4ever experiences such great heights –and fears– on the High Roller.
15. I brought the story of the five new restaurants opening with Lucky Dragon later this year.
16. I also shared the story of Pole Expo coming to Hard Rock.
17. Sammasseur’s Part 1 of a two-parter Recounts The Emotions Of An Iconic Landmark’s Demise.
18. James Dingsdale Heads To Macau For A Taste Of Sin City.
19. Sammasseur Concludes His Two-Part Impressions Of An Iconic Casino’s Demise.
20. I shared a Youtube find comparing 1994 Las Vegas to 2008 Las Vegas.
21. And, then me again about how Mccarran’s New Control Tower makes its Vegas Debut. Gees, I’ve has a busy week!
Due to the Monday holiday, ee will be back on Tuesday with new stories, but there will be a podcast for you all on Sunday.
[Photos and Images: Universal Pictures, Daun Curry, Eva G, James Dingsdale]