Of course I hope you are correct Jeff, but Apollo is related to Caesars, and Caesars is cutting faster than Edward Scissorhands… When William Hill took over the Caesars sportsbooks they made the employee’s re-apply to get their jobs back. Unfortunately this reminds me of the famous riddle: Why do dogs lick their own balls? Because they can…
]]>The mainest reason I think they will keep employees in much the same shape is that this deal was essentially done before Sheldon Adelson died, and he appeared to be (become) pretty “George” to his workers the last couple years of his life. I’m guessing he looked out for his workers as part of any sale. Also, LV Sands carried $1.2 billion of the $2.2 billion sale price on a term loan.
]]>Thanks Michael..
Astute observation…..yes, follow the money. They know something we don’t know……such as, in order for Vegas to prosper, international and domestic flights need to fire up and people need to relinquish fear of travel<~~very tall order!
As consumers, we rarely wonder about who owns NBC television, USA Today or Pizza Hut, to name a few. We just know it is there and operating. Ideally this is more of the same.
]]>I got it backwards. Apollo operates, so they pay rent to Vici.
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