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Ding Dong The Linq Is Dead!

By Chuckmonster on Friday, 19th November 2010 11:17am
  » filed under Las Vegas  comments: 6


Harrah's Entertainment has officially shit canned their planned IPO after investors... well... there weren't any. Three cheers for voting with your pocket book!

Anyways, this means that we can scratch Project Linq off the to-do list, as well as the completion of the Caesars Octavius towers. Oh and Victor Drai's takeover of the Bills Gamblin' Hall? That might be in jeopardy also.

Finally, we've received word that the official name change... which was supposed to take place TODAY, has been pushed back until next week. My bet is that they don't even go through with it now as there is no economic reason to do so.

Sad Loveman.

Tagged: linq   harrahs   caesars   loveman   


Comments & Discussion:

Damnit! Where is Harrah's going to come up with $10,000 to re-paint the Paris balloon now? Maybe they can sell excess furniture from the rooms - how often do you really use that old tv? Or they could save a butt-load by providing guests with environmentally friendly recycled toilet paper.

Seriously... if Harrah's is looking for new suckers to invest, why don't they just contact people who play their slot machines?

^^ I agree. The new Total Rewards plan: For only 1000 TR points, you can get $10 in FreePlay, a trip to our delicio-rific buffet, or 25 shares of our worthless debt issuance.

Big Hoss... Great minds think alike. Why aren't we running Harrah's or Caesars or whatever that company is going to be called?

How about this for a new corporate name? Drum roll. "The company formerly known as Harrah's". That'll fool those stupid investors.

If we call it that, we'll have to just make up some symbols for the name like Prince did.

It was doomed from the beginning.Who would want to walk from the Strip to Harmon ave.?

They're broke? Shocker.

This was just a stupid idea anyway. That make-believe money they were going to spend could have been used to better improve their mega block of dumpy properties, not encourage people off the strip to a make-believe stadium down the way. If they spent about $300M on each of their properties, they could make those last for the next 10-15 years or so. Ain't gonna happen though.

That's why I hope the Drai's deal happens, and maybe they could do this with other properties in their portfolio... getting some outsiders to invest invisible money and run the properties themselves until Caesarrahs eventually collapses. At least it would mean potential operators if (when) this happens.

It will be interesting to see where we are at 5 years from now...

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