Re: [vpFREE] Tax guestion

 

There is no reason to stress out.  The very simple solution is to put $150,000 in winnings on your 1040 and then put $150,000 in gambling losses as an itemized deduction.  Most people do this and have no problems with the IRS.  If the extra $100,000 in gross income causes you a lot of problems ($150,000W2s - $50,000 session wins) you can use the session method, but you may run into problems getting the IRS to agree.  Miss Craps reported serious difficulties with the session method.  You need to decide if you want the potential problems with reporting in this manner.

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Re: [vpFREE] Re: Caesars

 

Not trying to piss on anyone here, but this is blatantly wrong on both counts. 

TR is essentially a massive liability for them, much more so than any asset value. What are they going to do? Tell players to F themselves??? What does that do to the "mail value" of TR??? In any proceedings TR will be a massive headache/liability and no one will be happy with the outcome. Get out while you can. 

Second, on a pro-forma basis (which, roughly, means taking away interest payments and taxes) CET is still a big turkey. Operationally they still stink. Look at their quarterlies - they've had 1 profitable quarter since 2008 (or was it 2006?). Looking at interest payments as the issue for CET woes is missing the forest for the trees. It's simple - do you think they closed showboat and tunica because they were making money on them??? That has very little to do with their debt load; they stink operationally. 

They've missed the boat on Macau, they're misplacing their intentions on online gaming and their recent bond moves will make it nearly impossible - or very expensive - to borrow in the future. 

The only moves that save Caesars are rooted in NJ and the prospects are dim. The main one would be pushing the NJ legislature to allow foreign players to use the NJ gambling sites. If they can do that, NJ will win the online gaming wars (other states will stop their online gaming efforts) and it will save Caesars as a company. The second move would be if NJ allows sports wagering. That has potential revenue but was basically killed this past week with a Christie veto. 

Don't listen to any of this nonsense of interstate compacts for online gaming and plans for casinos in Korea. CET needs NJ to succeed. Period. Paragraph. 

I don't want to hear any arguing on these points. Some of us are intimate with CET - that's all I'm going to say about that . . .


On Aug 16, 2014, at 11:59 AM, "cdgnpc@aol.com [vpFREE]" <vpFREE@yahoogroups.com> wrote:

 

They are slowly separating the bad assets from the good. The program's asset is the mailing list and transaction history. If they can split all the assets they can default on the bonds with the crap properties and emerge smaller but dept free. In fact the quality side of the company can just buyback a chunk of the properties for pennies on the dollar. Without interest payments I am sure they would do quite well.

Rich

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[vpFREE] Reminder: Summer Offer: 2013 American Casino Guide Book Blowout!

 

Sale ends Monday.  Thanks!

 

Scot

 

As we prepare for 2015, as a writer and contributor to the American Casino Guide book (I write the weekly Vegas Values column on the website too) I am once again pleased to announce and offer a special summer discount price on orders for the 2014 book. The American Casino Guide, by Steve Bourie, has been published annually since 1992 and is the most comprehensive book available for information on all U.S. casinos, including all casino/resorts, riverboats and Indian casinos. The 2014 edition includes gambling articles and strategies by the nation's leading gaming writers and detailed information on more than 700 casinos in 41 states.  Best of all, the new 496 page book includes 216 coupons (the most ever!) valued at well over $1,000 with many new coupons and matchplays.  Coupon offers all valid thru the end of 2014 include: Free shows, Free buffets, Free slot play, Free hotel rooms, Free match play money, Free drinks, great discounts and more! To view the complete list of coupons, visit: http://www.americancasinoguide.com/2014-american-casino-guide-coupon-list.html 

 

TO ORDER: The retail price of the book is regularly $18.95, but to purchase the book at a special nearly 50% discount ($9.95) click to order here: http://www.americancasinoguide.com/131-uncategorised-sp-913/11516-scot-krause-ordering-page.html

 

The shipping cost is $4.50 (if you order "Media Mail") for the first book and

$1 for each additional book ordered.  Books are shipped within 2 days.

 

This special price is available for a limited time only valid now through midnight, Monday, August 18, 2014.

 

Enjoy the book! Thanks for your support!

 

Best wishes,

 

Scot

 

 

 

 

 

 

 

 

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Posted by: "Scot Krause" <krauseinvegas@cox.net>
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Re: [vpFREE] Tax guestion

 

lizardlips:  I sent you a private e-mail.
 
------------------------------------------
Jean $¢ott, Frugal Gambler
http://queenofcomps.com/
You can read my blog at
http://jscott.lvablog.com/
 
Sent: Saturday, August 16, 2014 11:30 AM
Subject: [SPAM]Re: [vpFREE] Tax guestion
 
 

What confuses me even more is the fact that I have roughly $50,000 in current session wins, and aprox $55,000 in session losses for 1014 to date. Yet, I have approx $150,000 in W2G's due to a couple months of 10 play dollars. I'm stressing out on how to do my taxes at the end of the year.

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Posted by: "Queen of Comps" <queenofcomps@cox.net>
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[vpFREE] Re: Caesars

 

They are slowly separating the bad assets from the good. The program's asset is the mailing list and transaction history. If they can split all the assets they can default on the bonds with the crap properties and emerge smaller but dept free. In fact the quality side of the company can just buyback a chunk of the properties for pennies on the dollar. Without interest payments I am sure they would do quite well.

Rich

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Re: [vpFREE] Caesars

 

I advised this months ago . . . some of us know CET "intimately" . . . just sayin' . . . 

On Aug 16, 2014, at 11:49 AM, "Misscraps misscraps@aol.com [vpFREE]" <vpFREE@yahoogroups.com> wrote:

 

That nY Post article leaves a lot to be desired. I don't know what "splitting off the loyalty program" means. Maybe splitting it into parts for each group of casinos under different "ownership" (since the restructuring has split the casinos into different holding companies)? Maybe they would move members into the area where their "primary" casino was. They could also have some sort of reciprocal comp program. But all of that is just speculation at this time. The NY Post article sort of implies splitting off the loyalty program as a separate entity, but that doesn't really make sense.

But at any rate, I would advise anyone who has a large number of accumulated comps to use them, and use your benefits as you get them if possible (don't wait for the end of each year to use your 7 star trip or meal for example)....just to be on the safe side if the TR program hits the fan.

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Posted by: funny.young.guy@gmail.com
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[vpFREE] Caesars

 

That nY Post article leaves a lot to be desired. I don't know what "splitting off the loyalty program" means. Maybe splitting it into parts for each group of casinos under different "ownership" (since the restructuring has split the casinos into different holding companies)? Maybe they would move members into the area where their "primary" casino was. They could also have some sort of reciprocal comp program. But all of that is just speculation at this time. The NY Post article sort of implies splitting off the loyalty program as a separate entity, but that doesn't really make sense.

But at any rate, I would advise anyone who has a large number of accumulated comps to use them, and use your benefits as you get them if possible (don't wait for the end of each year to use your 7 star trip or meal for example)....just to be on the safe side if the TR program hits the fan.

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Posted by: Misscraps <misscraps@aol.com>
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Re: [vpFREE] Tax guestion

 

What confuses me even more is the fact that I have roughly $50,000 in current session wins, and aprox $55,000 in session losses for 1014 to date. Yet, I have approx $150,000 in W2G's due to a couple months of 10 play dollars. I'm stressing out on how to do my taxes at the end of the year.

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Posted by: lizurdlips@yahoo.com
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Re: [vpFREE] Jean Scott's Frugal Vegas LVA BLOG - 15 AUG 2014`

 

So do I have trouble.

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Posted by: George Lee <glee4ever@yahoo.com>
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