Tilman making more moves. Kind of funny, if you go over to clutchfans.com, a lot of folks believe that Tilman doesn’t have any money. after buying the Rockets.
But Fertitta, nonetheless, has embarked on a quest to merge his vast private holdings of casinos and restaurants with Caesars Entertainment Corp., one of the gambling industry’s biggest publicly traded companies worth $6.1 billion. If Fertitta can pull it off, he will become the chief executive of a sprawling global empire and gain the opportunity to show again, on his biggest stage yet, that he has what it takes to pump new life into a struggling old brand and make it pay.
Caesars turned it down as they felt they’d have too much debt after the merger.
I can tell you first hand that Ceasars has been in trouble for years. Even today they are late on their payments. Either Tilman will get them or somebody else. It is a matter of time.
I’m completely ignorant of the industry, but how do you have financial trouble running a casino? Between the jacked up room rates and people handing you money 24 hours a day (in exchange for a few watered down drinks), you’ve got a ton of revenue.
You say they’re late on their payments, I can only assume their lender was either a Corleone or a Putin associate.
It has been so bad at times it went over to collections. Ceasars or MGM are huge companies with huge assets but it does not mean they have good leadership.