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The Executives : Unwin's $4.5M Question

By Chuckmonster on Thursday, 31st March 2011 1:54pm
  » filed under Las Vegas  comments: 4


The Executives : A New Hope

Is it enough?

Tagged: the executives   john unwin   murren   


Comments & Discussion:

The gaming (lack of) revenue doesn't surprise me. I was there last week on a Saturday and the cluuuubs and restaurants were beyond packed. The casino was like a ghost town.
Maybe gamblers are just avoiding this place until Marquee cools down a bit? The club people just took over the place and I can see how this could turn off some people.

Maybe if people were walking in, checking out the situation and leaving.

More likely, I think, is that we're seeing the impact of a lack of player database. It's gonna take longer than average to ramp up gaming activity.

I think the gaming numbers will come around too, not starting with a db is a major hurdle with the four corporations on the strip.

I think the dollars due John Unwin in the event the Cosmopolitan is sold ultimately don't make much different if one of the big corps. purchases the property. While I understand Robert Earl didn't have something similar, we can see how much he was utilized after they talked it up during the takeover. I think in the end HET, MGM, or any of the others would rather eat the buyout portion or if they did retain him would neuter any work he could do.

I don't follow a lot of financial reports, but I thought it was a bit odd that there was so much in there in relation to a prospective sale.

Clearly the top execs knew going into this that there's above average chance that the place will either get sold or be closed and they were very wise to negotiate all that stuff into their employment agreements.

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