I have a feeling that I'm feeding a troll here with the typical "screw the little guy" attitude, but . . .
The answer is - it depends. In the case of Caesars they are doing terribly on an operational basis (or pro forma) so yes, some suppliers will get screwed.
However, a lot of their debt is from real estate notes and holdings. The investors behind those are unlikely to let those go quickly. So a breakup of the company, almost literally on a property-by-property, geographic basis, would most likely ensue. There would also be the case of the online side of Caesars, the CIE portion. That has direct ties to both Nevada and New Jersey, even on a licensing basis (NJ requires each online gaming license to be associated with a brick and mortar casino within the state). So that would add an additional layer of confusion since those licenses may ( or may not) appreciate over time.
I'm not so sure Iwe should be so worried about all of these casinos
filing bankruptcy. Even the threat of going belly up might get some
favorable treatment from creditors. Operating on a tight budget requires
strong management to stay alive. So , mismanaged or not, it might be
time. Take a run at the creditors and wipe them out in bankruptcy. Of
course the big creditors are protected. Why not stiff the little suppliers
for a few hundred million. Back again, stronger than before.
The icing on the cake, the legal fees help a
lot of lawyers.
Just one guys thought......Jeep
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Posted by: funny.young.guy@gmail.com
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