> I hope you are correct, but from the article....
>
> "Should a deal be completed, given the would-be ownership structure of Palms, we would anticipate the property being rolled into the Caesars portfolio," Santarelli told investors. "We believe this would have a positive impact for both the Palms, via its inclusion in the Total Rewards program"
>
> When the Borg, I mean Caesars Entertainment, invade, I fear George will find that resistance is futile.
I'm not sure that comment is very credible- note it comes from an analyst for Well Fargo, not from Leonard Green or TPG. Apollo and TPG own Caesars, Not Green and TPG- unless Apollo is will to include Green, or perhaps it should be looked at the other way, does Green want to take on part of that huge debt that Caesars has? That sounds improbable to me.
Maloff risked his butt on the new tower and the condos- and the condos aren't selling and you know revenues are down in the other side of the business, so he defaulted on his loan. But that does not necessarily mean he will have to give up all of his equity or that Green and TPG want him to go- or that they want Caesars to come in. Only time will tell, but I'm not writing George off just yet- is it possible it is just a coincidence he settled with Michael Morton this week, too?
Just my .02- but I've been wrong before- Thanks, Lee.
