Very well written. A couple of side issues:
1) The deriative (shareholder's) lawsuit is interesting because the
general consensus is that the equity groups overpaid for the stock.
Certainly the bid is at least top of the market.
2) Gary Loveman is staying on to run the new company and his track
record speaks for itself (volumes if you don't know the history of the
company pre-Loveman).
3) The Rio has been on the block for some time now. A deal with Boyd
to sell it fell through; they ended up swapping a vacant piece of land
near Sahara and the Strip for the Barbary Coast and cash. I could see
PNG or even Stations eventually acquiring it. Sources inside the Rio
tell me that they beat the company's target for them every quarter;
I'm a little sceptical of this, but the place always seems to be crowded.
Showboat does very, very well, although it really doesn't fit into
HET's marketing strategy. Harvey's is a logical sales choice because
Tahoe is a distressed market at this point; competition would
certainly help Harrah's become more profitable. The Stateline property
is really starting to show its age. Unless, of course, you're staying
on the 16th floor ;).
···
--- In vpFREE@yahoogroups.com, "vpFae" <vpfae6128305@...> wrote:
Q: Now that the huge Harrah's sale is going through, what do
you make of it? How do you think Harrah's will change with two
mysterious "private equity" groups now owning the biggest
gambling company in the world?
Read the answer here:
http://tinyurl.com/jsbv2
<a href="http://tinyurl.com/jsbv2">
http://tinyurl.com/jsbv2</a>
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