Quote of the Day
By David McKee ~ June 14th, 2012 @ 8:10 am
“One of the worst IPOs in recent memory! A company that is consistently losing money, and with an enterprise value of $19.5 billion is ridiculous! The company’s interest expense alone is [roughly twice] its current market cap. Valuing this company based on its book value is also wrong. Since most of the assets are made up of casinos (recorded at original cost) I guarantee you that they are worth a lot less than what’s stated on the balance sheet.” — investor “BuffettJunior1” (!), one of the over 175,000 investors participating in Motley Fool CAPS, which has given Caesars Entertainment the baleful one-star rating.
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June 14th, 2012 at 9:28 am
Caesars has value, it has the name and brand of Caesars Palace, the most iconic name in Vegas. Everyone has a Caesars memory and legacy, and it’s a part of all of our Vegas lives. To me, going into the IP or Paris is not Caesars, and that is their challenge. I used to loathe Caesars because of the high table limits and top-end focus. Now I just go in as a tourist mostly, or to play in the poker room. The bloviators up the Strip who try to break unions and buy the entire country get my goat these days. Caesars seems more interested in actual gaming and vacations.
June 14th, 2012 at 10:45 am
I’m sure that building a ferris wheel with solve those problems!
Sosh Caeser’s debt must be high.
June 14th, 2012 at 3:31 pm
Caesars operates just like the Obama administration – spend what they really don’t have now and maybe worry later when the bill comes due. Sound Democrat advice.
June 15th, 2012 at 6:15 am
Actually David, Loveman operates Caesars with an impunity that Obama dreams about. With interest rates at an all time low, by a lot, it’s very possible that Loveman will be the winner at the end when the smoke clears. Land is quite valuable, historically …