Post by senescent on Dec 11, 2012 12:49:33 GMT -5
Just bought some puts on this dead man walking. I'd really like to short this but my margin account is in such dire shape that I cannot afford to. The only thing that could conceivably save this dog is online gaming but IMHO that will be too little too late. The company has over $20 billion in debt and a debt equity ratio of over 100:1. The CEO who took them to this place (and who bought a golf course instead of a casino in Macao) gets paid $20 million/year. They cannot fix their debt problem by selling properties as it only makes things worse. They are toast.
