No more MGM Grand for Pacquiao/ Top Rank

[turkas]

The article I posted said that they were issuing more debt to pay off debt

In what world does this mean that you are doing good financially?

Everytime they issue debt they are losing money due to interest and they are using this to pay debt that they already had

I can understand doing this if its only a couple of million but were talking about 13+ billion.

They are losing money left and right as long as they have debt that they have to pay interest on. Stock prices don't mean **** because they are arbitrarily determined while debt is tangible.

They aren't losing money, they actually make hundreds of millions in profit every quarter. Again it is long term debt so it is all due at different times over many many year. They easily make enough money to pay their current over head, and make their interest payments to their debtors that they are making money every year. So you saying they are losing money left and right is completely false.

And to clarify, the company your boy Arum was praising while attacking MGM, the Las Vegas Sand Corporation, have themselves $9.5 billion in unsecured debt. However, like MGM, Las Vegas Sand Corporation are turning a giant profit every year.

You clearly have no idea how this works.

[Djanxx]

MGM is losing money left and right and there gonna ban the biggest boxing promoter in the world?

The management there is beyond incompetent

LMAO dis guy

[turkas]

LMAO dis guy

He will do and say anything his puppet master Bob Arum commands.

[Check_hooks]

They aren't losing money, they actually make hundreds of millions in profit every quarter. Again it is long term debt so it is all due at different times over many many year. They easily make enough money to pay their current over head, and make their interest payments to their debtors that they are making money every year. So you saying they are losing money left and right is completely false.

You claim they are making hundreds of millions every quarter which sounds good right? But you left out they part where they at at least $13 billion in debt.

You could put $13 billion in a money market fund and make "hundreds of millions every quarter" so that doesn't mean ****

The fact is they are taking on debt to pay off existing debt which is a downward spiral.

The other casinos that Bob Arum was talking about has nothing to do with this and is a completely different scenario because 1.) They have far less debt and 2.) They have a major presence in Macau which has been the capitol for casinos for years.

[MindBat]

First the Ariza, then Freddie revelations and now this.


Uncle Bob:"WE don't need the Mostly Gay Maggots to put on great Pacquiao fight. Macauans love Manny Pacquiao plus the Venetian makes gazillions more per quarter than the MGM combined. Watch for Manny vs Brandon II coming soon."

.

[Cinci Champ]

Arum was right though in this case. Top Rank was a client and MGM didn't service its client to its best abilities. They were promoting the client's rival in the resort.Doesn't make sense really. They could have easily promoted it after the PAC-Bradley fight.

TOP Rank will just easily find another casino, no problem. MGM is the loser in this case.

ya i guess but arenas always advertise their biggest events during other events this is nothing new. I can understand why bob would be frustrated that floyd a person he hates is doing so much better with his events and that gbp is kicking their ass and getting mad that floyds stuff was all over but its reality. Floyd won the battle that arum invented to sell fights and its killing him. People can act like its no big deal but the mgm is the biggest $ maker in boxing period. Not to mention other states have bigger taxes

[turkas]

You claim they are making hundreds of millions every quarter which sounds good right? But you left out they part where they at at least $13 billion in debt.

You could put $13 billion in a money market fund and make "hundreds of millions every quarter" so that doesn't mean ****

The fact is they are taking on debt to pay off existing debt which is a downward spiral.

The other casinos that Bob Arum was talking about has nothing to do with this and is a completely different scenario because 1.) They have far less debt and 2.) They have a major presence in Macau which has been the capitol for casinos for years.

LOL I said multiple times that they have 13.4 billion in unsecured debt. Just like Sands Las Vegas has about 10 billion in the same type of debt.

The article you post was over 2 years old, they have since paid off that billion they took on and in fact restructured their debt payments and are on a very good path. Had you read the article I post you would know that. You would also know that the reason they are on the right path is because they now have a stake in Macau that is brining in hundreds of millions of dollars and are also opening another Casino in China that is supposed to bring in even more. So really the two casinos have very much in common, so it is puzzling that you can claim one is making money while the other is losing money hand over fist when they are both very similar financially.

[dc3383]

LOL I said multiple times that they have 13.4 billion in unsecured debt. Just like Sands Las Vegas has about 10 billion in the same type of debt.

The article you post was over 2 years old, they have since paid off that billion they took on and in fact restructured their debt payments and are on a very good path. Had you read the article I post you would know that. You would also know that the reason they are on the right path is because they now have a stake in Macau that is brining in hundreds of millions of dollars and are also opening another Casino in China that is supposed to bring in even more. So really the two casinos have very much in common, so it is puzzling that you can claim one is making money while the other is losing money hand over fist when they are both very similar financially.

Enough with all these facts and common sense.

[krazyn8tive]

Lots of CFO's posting in this b1tch.

[L3TH4L]

Arum is building his own stadium though with more seats than the MGM.