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LVRJ - Tropicana owner's licenses at risk

#1

In a message dated 12/19/07 3:11:01 PM US Mountain Standard Time,
markhaslem@yahoo.com writes:

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So if I get this right then perhaps Columbia Sussex is going bankrupt
because they paid too much to acquire Tropicana? I remember how
heated the bidding war was to acquire that. I'll bet they wish they
lost that bidding war instead of won nowadays.

--- In vpFREE@yahoogroups.com, "vpFae" <vpFae@...> wrote:
>
> http://www.lvrj.com/business/12586836.html
>
> <A HREF="http://www.lvrj.com/business/12586836.html">
> http://www.lvrj.com/business/12586836.html</A>

*****
To review, Pinnacle made the first unsolicited offer. Then what Resorts and
C/S came with counter offers? Pinnacle bailed, but there was some back and
forth. C/S won, but the financial comminity scratched their heads.

But how does one totally piss-off New Jersey's casino review board to the
point of revocation? I guess they always use the phrase "Kentucky based
Columbia-Sussex" for a reason.

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#2

But how does one totally piss-off New Jersey's casino review board

to the

point of revocation? I guess they always use the phrase "Kentucky

based

Columbia-Sussex" for a reason.

Good point. Even the KFC folk use "Sweet Home Alabama" as their new
jingle, I pointed out to a friend of mine, a KFC franchisee, that AL
and KY weren't even on the same side in the Civil War. Then again,
I'm guessing maybe 3% of their target demographic realize this.

FTR, C-S is pretty much hated by their employees nationwide whether it
be the former Caesars Tahoe (when the deal was finalized between HET
and C-S, about 10% of their workforce quit that day, including all the
hosts), to the (AC) Trop (who laid off a number of tenured loyal
employees).

Again, they're a RE holding company which is trying to run its casinos
like it's a RE holding company deal, which carries the same appearance
of sophistication as, say, running a gaming company from Kentucky.

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--- In vpFREE@yahoogroups.com, GRAYTLEEGRAY@... wrote:

#3

GRAYTLEEGRAY@aol.com wrote

But how does one totally piss-off New Jersey's casino review board to the
point of revocation? I guess they always use the phrase "Kentucky based
Columbia-Sussex" for a reason.

More than the ballyhooed bedbugs, they failed to file the legally mandated audits for six months despite repeated requests. That's enough to get any state agency moving, to ensure that they're getting their cut..

#4

GRAYTLEEGRAY@... wrote
>
> But how does one totally piss-off New Jersey's casino review

board to the

> point of revocation? I guess they always use the phrase "Kentucky

based

> Columbia-Sussex" for a reason.
>

More than the ballyhooed bedbugs, they failed to file the legally
mandated audits for six months despite repeated requests. That's

enough

to get any state agency moving, to ensure that they're getting

their cut..

I don't think we have this problem over here in Nevada. I do believe
you have two entities counting the money here. There's the casinos
count and the state auditors count. Here in Nevada we good citizens
believe the casinos need help counting the money. So we put auditors
in the casinos. The more people counting the money, the more
accurate the count.

I think we learned this trick from experience. When Vinnie and Bruno
were counting the money we couldn't get an accurate count. Vinnie
and Bruno were good at running casinos but they were very bad at
math. Coincidence of coincidences, all the mistakes were being made
in their favor. So we decided they needed some help.

Old habits die hard and we still do it to the corporations of today.
I think taxes on casino revenue pays half or more of the state
budget. I think it was up around 80% in the old days.

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--- In vpFREE@yahoogroups.com, MHS <mspevack@...> wrote: