vpFREE2 Forums

Caesars

#1

That nY Post article leaves a lot to be desired. I don't know what "splitting off the loyalty program" means. Maybe splitting it into parts for each group of casinos under different "ownership" (since the restructuring has split the casinos into different holding companies)? Maybe they would move members into the area where their "primary" casino was. They could also have some sort of reciprocal comp program. But all of that is just speculation at this time. The NY Post article sort of implies splitting off the loyalty program as a separate entity, but that doesn't really make sense.

But at any rate, I would advise anyone who has a large number of accumulated comps to use them, and use your benefits as you get them if possible (don't wait for the end of each year to use your 7 star trip or meal for example)....just to be on the safe side if the TR program hits the fan.

#2

I advised this months ago . . . some of us know CET “intimately” . . . just sayin’ . . .

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On Aug 16, 2014, at 11:49 AM, “Misscraps misscr…@…com [vpFREE]” <vpF…@…com> wrote:

That nY Post article leaves a lot to be desired. I don’t know what “splitting off the loyalty program” means. Maybe splitting it into parts for each group of casinos under different “ownership” (since the restructuring has split the casinos into different holding companies)? Maybe they would move members into the area where their “primary” casino was. They could also have some sort of reciprocal comp program. But all of that is just speculation at this time. The NY Post article sort of implies splitting off the loyalty program as a separate entity, but that doesn’t really make sense.

But at any rate, I would advise anyone who has a large number of accumulated comps to use them, and use your benefits as you get them if possible (don’t wait for the end of each year to use your 7 star trip or meal for example)…just to be on the safe side if the TR program hits the fan.

#3

They are slowly separating the bad assets from the good. The program’s asset is the mailing list and transaction history. If they can split all the assets they can default on the bonds with the crap properties and emerge smaller but dept free. In fact the quality side of the company can just buyback a chunk of the properties for pennies on the dollar. Without interest payments I am sure they would do quite well.

Rich

#4

Not trying to piss on anyone here, but this is blatantly wrong on both counts.

TR is essentially a massive liability for them, much more so than any asset value. What are they going to do? Tell players to F themselves??? What does that do to the “mail value” of TR??? In any proceedings TR will be a massive headache/liability and no one will be happy with the outcome. Get out while you can.

Second, on a pro-forma basis (which, roughly, means taking away interest payments and taxes) CET is still a big turkey. Operationally they still stink. Look at their quarterlies - they’ve had 1 profitable quarter since 2008 (or was it 2006?). Looking at interest payments as the issue for CET woes is missing the forest for the trees. It’s simple - do you think they closed showboat and tunica because they were making money on them??? That has very little to do with their debt load; they stink operationally.

They’ve missed the boat on Macau, they’re misplacing their intentions on online gaming and their recent bond moves will make it nearly impossible - or very expensive - to borrow in the future.

The only moves that save Caesars are rooted in NJ and the prospects are dim. The main one would be pushing the NJ legislature to allow foreign players to use the NJ gambling sites. If they can do that, NJ will win the online gaming wars (other states will stop their online gaming efforts) and it will save Caesars as a company. The second move would be if NJ allows sports wagering. That has potential revenue but was basically killed this past week with a Christie veto.

Don’t listen to any of this nonsense of interstate compacts for online gaming and plans for casinos in Korea. CET needs NJ to succeed. Period. Paragraph.

I don’t want to hear any arguing on these points. Some of us are intimate with CET - that’s all I’m going to say about that . . .

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On Aug 16, 2014, at 11:59 AM, “cdg…@…com [vpFREE]” <vpF…@…com> wrote:

They are slowly separating the bad assets from the good. The program’s asset is the mailing list and transaction history. If they can split all the assets they can default on the bonds with the crap properties and emerge smaller but dept free. In fact the quality side of the company can just buyback a chunk of the properties for pennies on the dollar. Without interest payments I am sure they would do quite well.

Rich

#5

Funny young guy said…

Don’t listen to any of this nonsense of interstate compacts for online gaming and plans for casinos in Korea.

CET needs NJ to succeed. Period. Paragraph.

I don’t want to hear any arguing on these points. Some of us are intimate with CET - that’s all I’m going to >say about that . . .

You may be factually right in your assertions about CET. You may not be. Either way, I think most people will not take away much information about CET from your post. Instead, the main takeaway is, “that guy’s an arrogant, self-righteous ass.” All of the information is drowned out by the arrogance, and that’s a shame.

#6

The loyalty program (Total Rewards) is and has always been where the value is in the Caesars/Harrahs organization. The names, play history, contact info has been very valuable and everytime Caesars/Harrahs has sold or divested a casino the play and value of that casino has deteriorated significantly due to the loss of the loyalty program.

If they put the loyalty program in another entity, they would probably then charge each property to use the program. Any Caesars/Harrahs property that chose not to participate and pay the required fees, would find its value go down quickly. Whether this is a ploy for future bankruptcy proceedings is a question.

But as noted below, now is probably the time to reduce reward credit balances and take advantage of any perks you are entitled to.

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To: vpF…@…com
From: vpF…@…com
Date: Sat, 16 Aug 2014 11:49:17 -0700
Subject: [vpFREE] Caesars

That nY Post article leaves a lot to be desired. I don’t know what “splitting off the loyalty program” means. Maybe splitting it into parts for each group of casinos under different “ownership” (since the restructuring has split the casinos into different holding companies)? Maybe they would move members into the area where their “primary” casino was. They could also have some sort of reciprocal comp program. But all of that is just speculation at this time. The NY Post article sort of implies splitting off the loyalty program as a separate entity, but that doesn’t really make sense.

But at any rate, I would advise anyone who has a large number of accumulated comps to use them, and use your benefits as you get them if possible (don’t wait for the end of each year to use your 7 star trip or meal for example)…just to be on the safe side if the TR program hits the fan.

Posted by: Misscraps <misscr…@…com>

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#7

Not liking the message delivery doesn’t make the message wrong. I assure you I am right on CET. No question about it.

Plus, it pleases me to be thought of as righteous and arrogant. Those are good qualities. They have served me well. I make my own schedule, I do what I want on my rules. I live life on my terms - arrogance gets you that :slight_smile:

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On Aug 17, 2014, at 8:22 AM, “jack_in_blac…@…com [vpFREE]” <vpF…@…com> wrote:

Funny young guy said…

Don’t listen to any of this nonsense of interstate compacts for online gaming and plans for casinos in Korea.

CET needs NJ to succeed. Period. Paragraph.

I don’t want to hear any arguing on these points. Some of us are intimate with CET - that’s all I’m going to >say about that . . .

You may be factually right in your assertions about CET. You may not be. Either way, I think most people will not take away much information about CET from your post. Instead, the main takeaway is, “that guy’s an arrogant, self-righteous ass.” All of the information is drowned out by the arrogance, and that’s a shame.

#8

" I make my own schedule, I do what I want on my rules. I live life on my terms - arrogance gets you that :-)" Plus a small living space in many cases.

#9

That doesn’t even make sense

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On Aug 18, 2014, at 4:58 AM, “gilru…@…com [vpFREE]” <vpF…@…com> wrote:

" I make my own schedule, I do what I want on my rules. I live life on my terms - arrogance gets you that :-)" Plus a small living space in many cases.

#10

Touche, gilrus47.

#11

You’ll figure it out.

#12

FYG, I believe Gilrus47's comment about a small living space referred to a prison cell.

···

From: "funny.young.guy@gmail.com [vpFREE]"

That doesn't even make sense

"gilrus47@yahoo.com [vpFREE]"

" I make my own schedule, I do what I want on my rules. I live life on

my terms - arrogance gets you that :-)" Plus a small living space in many cases.