--- In vpFREE@yahoogroups.com, Tom Robertson <007@...> wrote:
>
> armchairpresident wrote:
>
> >all comps are expensed at full value
>
> I'm not sure about this.
Look at these numbers closely folks- this is not gaming win or loss- these numbers are full P&L (except taxes). In my opinion there is one word that explains the majority of these numbers- DEBT. Caesars has what- $18 or 20 billion in debt and MGM has $12 or $14 billion last time I looked (or something like that). Why is the balance of Clark County profitable? Because Stations' debt was wiped out through bankruptcy and they don't have the interest expense.
The locations where Gaming Revenue is 60% of Total Revenue- where the casino doesn't have to support a huge hotel built or bought with debt financing- are doing just fine.
Just my .02- Thanks, Lee.
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