Worse than expected

Discussion in 'General Craps Discussion' started by Craps Poopshoot, Oct 30, 2020.

  1. Craps Poopshoot, Oct 30, 2020

    Craps Poopshoot

    Joined:
    Nov 17, 2015
    Messages:
    1,983
    Likes Received:
    898
    Gender:
    Male
    Location:
    las vegas,nevada
    Well, MGM just posted its third-quarter loss and revenue, it's bad!

    "casino revenue fell 58%, rooms revenue declined 49%, food and beverage revenue was down 69% and entertainment, retail and other revenue fell 68%. Las Vegas Strip Resorts revenue dropped 68%"

    The Sands Corp (Venitian and Palazzo) are for sale, they are asking 6 Billion for all Las Vegas properties.

    Ballys sold to Twin Rivers, and Planet Hollywood and Cromwell are still for sale.

    Layoffs are still happening, bankruptcies and going-out-of-business sales and signed up everywhere.
     
    #1
    yacraps and MisterInside like this.
  2. von duck, Oct 30, 2020

    von duck

    von duck Member

    Joined:
    Feb 10, 2017
    Messages:
    12,427
    Likes Received:
    2,873
    Gender:
    Male
    Hey Man, it has only just begun. Vegas is "goin down" man! :cool:
     
    #2

  3. Liman

    Liman Member

    Joined:
    May 4, 2013
    Messages:
    9,298
    Likes Received:
    8,885
    wonder how its going to effect. or is it affect real estate rentals and sales?
     
    #3
  4. von duck, Oct 30, 2020

    von duck

    von duck Member

    Joined:
    Feb 10, 2017
    Messages:
    12,427
    Likes Received:
    2,873
    Gender:
    Male
    The housing market in Vegas has been booming. How or why, I have no idea. I'll bet what's his name doesn't get his 6billion asking price for those strip properties though. Maybe 1/2 of that. :cool:
     
    #4
  5. Mssthis1, Oct 31, 2020

    Mssthis1

    Mssthis1 Member

    Joined:
    Jul 25, 2016
    Messages:
    3,448
    Likes Received:
    5,478

    Just the ones who are too heavily weighted to the strip. It isn't rocket science. A 10% loss of business for an extended period is enough to eventually BK the over leveraged companies.

    Ceasars just came out of BK yet they're still open. Eldorado board meetings are probably like "WTF did we do?" Lol.
     
    #5
    yacraps likes this.
  6. von duck, Oct 31, 2020

    von duck

    von duck Member

    Joined:
    Feb 10, 2017
    Messages:
    12,427
    Likes Received:
    2,873
    Gender:
    Male
    The places your talking about, for sure, but I think it will go a lot deeper. 2020 has been a tough year, everywhere, but the worst is yet to come, I'm afraid. The numbers I'm seeing, indicate some really tough times are ahead of us. More shutdowns may be on the way, some dictated, some induced. I recommend everybody, Prep for long tough winter. The election, will only determine who we blame it on. :confused:
     
    #6
  7. Mssthis1, Nov 1, 2020

    Mssthis1

    Mssthis1 Member

    Joined:
    Jul 25, 2016
    Messages:
    3,448
    Likes Received:
    5,478
    I'm already in the 99th percentile of being prepared.

    On a side note I went to an auction yesterday to try and buy this truck. It's a 2007 dodge Ram 2500. 19,000 miles. Cummings diesel, auto transmission. It has a gooseneck ball. The tail gate is damaged where the previous owner didn't have the cattle trailer jacked up high enough and snagged it pulling away.

    Take a guess on what it brought and I'll let you know tomorrow where I quit bidding and the final hammer price.

    I did get a John Deere X750 mower for $4800. That was one of the few bargains.

    2007 17000 iles.jpg
     
    #7
    Last edited: Nov 1, 2020
    yacraps likes this.
  8. von duck, Nov 1, 2020

    von duck

    von duck Member

    Joined:
    Feb 10, 2017
    Messages:
    12,427
    Likes Received:
    2,873
    Gender:
    Male
    A 2007 with only 19,000 miles? :confused: That seems a little low. Probably brought more than the 2007 selling price. :cool:
     
    #8
  9. Craps Poopshoot, Nov 1, 2020

    Craps Poopshoot

    Joined:
    Nov 17, 2015
    Messages:
    1,983
    Likes Received:
    898
    Gender:
    Male
    Location:
    las vegas,nevada
    Update: New Year's Eve is Canceled. No Strip Fireworks!

    Then there is this.... Las Vegas also canceled ThanksGiving too.

    CaliCancleThanx.jpg

    Christmas is also canceled!

    Good news!
    Ramadan and Hanukkah are planned as usual.
     
    #9
    yacraps likes this.
  10. Craps Poopshoot, Nov 1, 2020

    Craps Poopshoot

    Joined:
    Nov 17, 2015
    Messages:
    1,983
    Likes Received:
    898
    Gender:
    Male
    Location:
    las vegas,nevada
    Lots of Californians are moving here, to Las Vegas, to escape the crazy covid restrictions, high taxes, and other bizarre laws that make living in California unworkable.
    They are also bringing in their crime, their politics, and their bad driving too.
     
    #10
    yacraps likes this.