Harrah's going bankrupt?

Chipsahoy · #1 03-15-2009, 07:14 PM

Analyst have said that the latest debt swap attempt by Harrah's is not going to work and they believe that by the end of the year, that they will be in bankruptcy court. Harrah's on Wednesday said it wanted to swap an unspecified amount of debt for $2.8 billion in lower value/ higher interest notes that would mature in nine years. Their debt is 24 million dollars! Omg, how does a casino get that in debt?

VegasLuvsMe · #2 03-16-2009, 04:43 PM

That doesn't sound good at all, but it's still not as bad as MGM's debt.

Let's just hope Harrah's doesn't get that bad off. Would like to see them stick around at least a few more decades.

winbig · #3 03-16-2009, 06:08 PM

Quote:

Originally Posted by VegasLuvsMe

That doesn't sound good at all, but it's still not as bad as MGM's debt.

Let's just hope Harrah's doesn't get that bad off. Would like to see them stick around at least a few more decades.

Even if they do end up in bankruptcy, I doubt that their casinos will disappear...there'll always be another group out there that will buy their properties