Here we go again. Anyone familiar with the Landry Group? Any ideas on what
to expect?
[Non-text portions of this message have been removed]
gn sold
Here we go again. Anyone familiar with the Landry Group? Any ideas
on what
to expect?
"Tilman Fertitta is the cousin of Frank and Lorenzo Fertitta of
Station Casinos Inc. in Las Vegas"
well let's hope the fertitta's cousin will make it more locals
friendly...though i wonder if they would go into direct competition
with the family...
if i added it up correctly, it seems poster inc took a 30 million
haircut from their original purchase price...
···
--- In vpFREE@yahoogroups.com, Opzop2wah@a... wrote:
Opzop2wah@aol.com wrote:
Here we go again. Anyone familiar with the Landry Group? Any ideas on what to expect?
The swordfish is excellent.
Skip
Frankly, the only thing worse than Stationizing a casino is
Harrahsizing it. I was really tempted to walk into Palace one night
and play Blackjack "my way" like the billboards said I could. Harrah's
is the master of making absolutely nothing sound like the Second Coming.
Harrah's walking in and fine tuning at recently purchsed properties
killed my best play of 2003 and my best one of 2004. I am convinced
these plays would still be there if not for Harrahs buying the two
properties.
GN's slot operations made some grievous errors in handling certain
high rollers. Letting Dancer play $25 Jacks (with .67 cb) was one of
them (actually, I know the real story how he got backed off the game,
it's certainly not the story as he related it in Strictly Slots and
it's not complimentary to him at all). Letting the best dealmaker in
the business play $5 100-play (yes, you heard it right) Jacks was
another (although I thought the part about "forgetting" to deposit his
drawing tickets, after he beat them for $200K was hilarious)-but they
did show some restraint in not putting on the NSUD for him. After
taking their 10 RF shellacking, management decided to pull double
points off the $1 and up VP.
<<I know the real story how he got backed off the game,
it's certainly not the story as he related it in Strictly Slots and
it's not complimentary to him at all).>>
What month of SS was that story in?
···
________________________________________
Jean $�ott - Go to http://www.FrugalGambler.biz
for VP software and strategy cards and for the
Frugal series of books. Now is the time you might
need "Tax Help for the Frugal Gambler."
> Here we go again. Anyone familiar with the Landry Group? Any
ideas
on what
> to expect?
>
> if i added it up correctly, it seems poster inc took a 30 million
haircut from their original purchase price...
poster paid 215 mil, landry paying 295 mil, 140 in cash , 155 in
debt, add 31 mil poster got for gn laughlin i get +111 minus there
losses about 14 mill + the loss for the fourth qtr yet to be announced
I think they will still be able to eat 
M J
···
--- In vpFREE@yahoogroups.com, "irdd3000" <irdd@n...> wrote:
--- In vpFREE@yahoogroups.com, Opzop2wah@a... wrote:
> > if i added it up correctly, it seems poster inc took a 30
million
> haircut from their original purchase price...
poster paid 215 mil, landry paying 295 mil, 140 in cash , 155 in
debt, add 31 mil poster got for gn laughlin i get +111 minus there
losses about 14 mill + the loss for the fourth qtr yet to be
announced
I think they will still be able to eat
M J
i don't think it is correct to add in the debt...though i'm not
exactly sure what the original 295 included, but would be surprised
if they made a huge profit the way the managed the property...
Paper today said: "Gambling sources said Poster and Breitling could split up to $150 million in profits once the transaction closes." Chump change for billionaires - but okay, I guess, for a year where they had a lot of publicity and fun!!!!
···
________________________________________
Jean $�ott - Go to http://www.FrugalGambler.biz
for VP software and strategy cards and for the
Frugal series of books. Now is the time you might
need "Tax Help for the Frugal Gambler."
i don't think it is correct to add in the debt...though i'm not exactly sure what the original 295 included, but would be surprised if they made a huge profit the way the managed the property...
Be surprised. The LVRJ reports that the two will be splitting around $150 million in profits from the sale.
In my next life, I want to perpetually screw up, party, make bizarre decisions, act like a goofball, and clear $75 million a year in the process. Sigh.
John
Be surprised. The LVRJ reports that the two will be splitting
around
$150 million in profits from the sale.
In my next life, I want to perpetually screw up, party, make
bizarre
decisions, act like a goofball, and clear $75 million a year in
the
process. Sigh.
John
evidently proving once again it is better to be lucky than good at
what you do...i thought they paid a fairly steep price when they
bought it, but they may have gotten lucky and found a mkt top here...
The assumption of debt if it is due in 5, 10 or 20 years has a
present value quite a bit lower than the face value.... so I think
their "profit " is over rated.
···
-- In vpFREE@yahoogroups.com, "irdd3000" <irdd@n...> wrote:
> Be surprised. The LVRJ reports that the two will be splitting
around
> $150 million in profits from the sale.
>
> In my next life, I want to perpetually screw up, party, make
bizarre
> decisions, act like a goofball, and clear $75 million a year in
the
> process. Sigh.
>
> Johnevidently proving once again it is better to be lucky than good at
what you do...i thought they paid a fairly steep price when they
bought it, but they may have gotten lucky and found a mkt top
here...
evidently proving once again it is better to be lucky than good at
what you do...i thought they paid a fairly steep price when they
bought it, but they may have gotten lucky and found a mkt top
here...
Remember to differentiate between the characters you see on TV and
the real people. Seems to me these guys were savy enought to get
out of the internet craze with lots of dough and have recreated that
timing magic. Luck, maybe. Smarts ... much more likely.
Remember to differentiate between the characters you see on TV and
the real people. Seems to me these guys were savy enought to get
out of the internet craze with lots of dough and have recreated
that
timing magic. Luck, maybe. Smarts ... much more likely.
right you are...sell businesses when they are overvalued...though
their actual operational abilities are still questionable...
...
Letting the best dealmaker in the business play $5 100-play (yes,
you heard it right) Jacks was another (although I thought the part
about "forgetting" to deposit his
drawing tickets, after he beat them for $200K was hilarious)-
I was not suprised to read about the GN fines. The incident Paladin
described was the converse of the incident for which the Venetian was
fined (and scapegoat employees were fired). Instead of throwing a
drawing to a favoured high roller, the GN allegedly threw a drawing
against a dis-favoured high roller. Even if the high roller in
question eschewed publicity and didn't complain, I see the GN
allegedly played fast and loose with the rules on other occasions.
David
···
--- In vpFREE@yahoogroups.com, "paladin415x" <paladin415x@y...> wrote:
If they convert one of the restaurants to one of their steak houses it might be nice, especially if it's totally smoke free as the poker room. They have some fair games there such as bonus flush with along with the slot club and offers is a decent play.
···
From: Skip Hughes <skiphughes@earthlink.net>
Reply-To: vpFREE@yahoogroups.com
To: vpFREE@yahoogroups.com
Subject: Re: [vpFREE] gn sold
Date: Fri, 04 Feb 2005 09:57:42 -0800Opzop2wah@aol.com wrote:
> Here we go again. Anyone familiar with the Landry Group? Any ideas on
> what
> to expect?The swordfish is excellent.
Skip