The Inevitable New The Inevitable Trump Mocking Thread
- Thread starter Nonononono
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Wow Magoo, 1:20 AM and your posting about Trump...living in your head much?
Tell us Magoo, was Trump & the "mob" involved with this casino?
Revel Entertainment Group, the owners of floundering casino Revel Atlantic City, filed for Chapter 11 bankruptcy in late March, less than a year after the casino opened for business. The group filed a bankruptcy plan which would turn control of the resort over to its lenders and eliminate almost $1bn of the company’s debts.
Revel, which opened its doors on 2 April 2012, has struggled to meet the expectations of its backers. According to data from the New Jersey Division of Gaming Enforcement, the $2.4bn resort generated the second lowest gambling revenue among the market’s 12 resorts in January 2013.
According to paperwork filed at a bankruptcy court in Camden, New Jersey, Revel listed debts of around $1.52bn and assets of $1.1bn. The company announced that under the terms of its bankruptcy it will reduce that debt by 82 percent to $272m via a debt-for-equity conversion. “Revel’s debt burden, in the context of numerous broader challenges facing the Atlantic City casino market and certain startup issues unique to Revel, has proven unsustainable”, the company said in the Chapter 11 paperwork. In a statement, Revel revealed that it had already secured more than the number of lenders’ votes required for the court to approve its plan.
Under the terms of the restructuring, the Revel Group will no longer own the casino, but a licensing agreement will be kept in place, allowing it to continue to operate under the Revel name. Jeffrey Hartmann was appointed Revel’s interim chief executive officer on 13 March and has been charged with the day-to-day running of the company as it completes the reorganisation process.“The reduction of debt service expense this agreement facilitates will greatly improve Revel’s cash flow to better support day-to-day operations,” noted Michael Garrity, Revel’s chief investment officer. “This restructuring positions Revel for long-term success by providing the company with the operational flexibility to invest in the growth of our business.”
In addition to the debt-for-equity deal, lenders including Canyon Capital Advisors and Chatham Asset Management have also agreed to provide $250m in debtor in possession (DIP) financing, approximately $45m of which constitutes new money commitments and approximately $205m constitutes prepetition debt. Lenders have also committed around $335m in exit financing, consisting of a $75m revolving loan and a $260m term loan.
Revel, which employs around 5500 staff, reported operating losses of $35m and $37m respectively in the second and third quarters of 2012. The group also raised $200m of extra financing in an unsuccessful attempt to shore up its finances. “Today’s announcement is a positive step for Revel,” said Kevin DeSanctis, Revel’s chief executive officer. “The agreement we have reached with our lenders will ensure that the hundreds of thousands of guests who visit Revel every year will continue to enjoy a signature Revel experience in our world class facility.”
The Revel casino was the first constructed in Atlantic City since 2003, and was also the most expensive ever built in the city, but it has fallen foul of the region’s gambling decline. Atlantic City’s casinos have struggled in the face of competition from new rival gambling destinations, most notably in nearby Philadelphia. On the back of Philadelphia’s success, Pennsylvania has overtaken Atlantic City to become the second-largest US gambling market outside of Las Vegas. In order to revive the state’s gambling fortunes, New Jersey Governor Chris Christie even provided the Revel resort with $261m worth of state tax incentives, to no avail.
A number of mistakes have punctuated the casino’s short history thus far. Revel’s decision to make the resort a completely non-smoking area has been highlighted as a particularly damaging mis-step, one which has been corrected in the company’s restructuring plan. Revel also failed to connect with day trippers to the region, due to the prohibitively high cost of a room in the casino’s 1800 bedroom hotel and the expensive nature of the casino’s restaurants. In addition, Revel was forced to close its doors for five days in October and November due to the effects of Hurricane Sandy.
Revel expects to continue normal business operations throughout the bankruptcy process. Thanks to the DIP financing, employees and suppliers will continue to be paid.
May 2013 Issue
© Financier Worldwide
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U.S.DONALD TRUMPIMMIGRATIONU.S.-MEXICO BORDERBORDER WALL
Donald Trump once floated a plan for ranchers to use ladders to get their cattle over the border wall, according to a new book by Miles Taylor, the former Trump administration official who famously criticized Trump in an op-ed under the pen name Anonymous.
Trump, who is seeking the Republican presidential nomination, made immigration a focus of his 2016 campaign for president. He followed through with hard-line anti-immigration policies, including building a physical wall at the southern border, a travel ban mostly affecting Muslim-majority countries and a "zero tolerance" policy that separated children from their parents.
Taylor, the former chief of staff at the Department of Homeland Security, has warned that a second Trump administration, or a MAGA successor, will be even worse.
As president, Trump would steer briefings to his "favorite subject" and run through his "list of cruelly imaginative immigration policies," Taylor writes in his upcoming book, Blowback: A Warning to Save Democracy From the Next Trump, an extract of which was obtained exclusively by Newsweek.
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President Donald Trump visits the U.S.-Mexico border fence in Otay Mesa, California, on September 18, 2019. A new book says Trump once suggested that ranchers use ladders to get their cattle over the border wall.NICHOLAS KAMM/AFP VIA GETTY IMAGES
In his book, Taylor recalls that in a March 7, 2019, meeting, Trump "out of nowhere" complained that ranchers in Texas were being allowed to open doors in the border wall to allow their cattle to reach the Rio Grande.
"No doors. I don't want doors," Trump said, according to Taylor. "How crazy is this? There are doors in the border wall? It's stupid. They can just walk up, open the door, and thousands of [illegals] rush in."
Kirstjen Nielsen, then the homeland security secretary, told Trump that this wasn't true, Taylor writes. But Trump "didn't care" and ordered them to acquire any land where ranchers had access to the Rio Grande.
"Just buy the land. I know more about land than any other human on Earth. Let's do it, okay?" Taylor quotes Trump as saying.
"Give the ranchers ladders. They can use ladders to get to the other side, but not doors. You could use small fire trucks. Call the local fire stations, and use the ladders on their trucks to help them get over."
The plan was "so incandescently stupid I couldn't laugh," Taylor remembers thinking at the time.
He said Trump went on to say that the plan was needed because Mexico "is a hellhole."
www.newsweek.com
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U.S.DONALD TRUMPIMMIGRATIONU.S.-MEXICO BORDERBORDER WALL
Donald Trump once floated a plan for ranchers to use ladders to get their cattle over the border wall, according to a new book by Miles Taylor, the former Trump administration official who famously criticized Trump in an op-ed under the pen name Anonymous.
Trump, who is seeking the Republican presidential nomination, made immigration a focus of his 2016 campaign for president. He followed through with hard-line anti-immigration policies, including building a physical wall at the southern border, a travel ban mostly affecting Muslim-majority countries and a "zero tolerance" policy that separated children from their parents.
Taylor, the former chief of staff at the Department of Homeland Security, has warned that a second Trump administration, or a MAGA successor, will be even worse.
As president, Trump would steer briefings to his "favorite subject" and run through his "list of cruelly imaginative immigration policies," Taylor writes in his upcoming book, Blowback: A Warning to Save Democracy From the Next Trump, an extract of which was obtained exclusively by Newsweek.
SUBSCRIBE NOW FROM JUST $1 >
President Donald Trump visits the U.S.-Mexico border fence in Otay Mesa, California, on September 18, 2019. A new book says Trump once suggested that ranchers use ladders to get their cattle over the border wall.NICHOLAS KAMM/AFP VIA GETTY IMAGES
In his book, Taylor recalls that in a March 7, 2019, meeting, Trump "out of nowhere" complained that ranchers in Texas were being allowed to open doors in the border wall to allow their cattle to reach the Rio Grande.
"No doors. I don't want doors," Trump said, according to Taylor. "How crazy is this? There are doors in the border wall? It's stupid. They can just walk up, open the door, and thousands of [illegals] rush in."
Kirstjen Nielsen, then the homeland security secretary, told Trump that this wasn't true, Taylor writes. But Trump "didn't care" and ordered them to acquire any land where ranchers had access to the Rio Grande.
"Just buy the land. I know more about land than any other human on Earth. Let's do it, okay?" Taylor quotes Trump as saying.
"Give the ranchers ladders. They can use ladders to get to the other side, but not doors. You could use small fire trucks. Call the local fire stations, and use the ladders on their trucks to help them get over."
The plan was "so incandescently stupid I couldn't laugh," Taylor remembers thinking at the time.
He said Trump went on to say that the plan was needed because Mexico "is a hellhole."
Trump wanted cows to climb ladders over border wall, ex-staffer says
Trump touted the idea after saying that ranchers in Texas were being allowed to open doors in the border wall, according to an upcoming book.
www.newsweek.com
Sadly not a hat anyone in the Biden family or administration would be wearing....
How about emails?
That, too.
Just making sure your partisan isn’t showing.
If you can look back far enough, I had that exact criticism (and more) of Hillary in 2016.
Oh, so here again... that pesky "evidence" thing only matters if you're convicting republicans? I'm asking for Russian collusion.
Goddamn... everyone has to go back 7 years now? You need us to provide you some of Biden's more recent lies?
Oh wait, I forget... On BigSoccer.com, back in 1984, you chastised Biden for lying about his hair plugs.
I have no idea what you intended to post there.
I voted for Biden in 2020 beecause he was not Trump. The last time I checked, he is still not Trump.
I have a hope that Biden will do an LBJ imitation and announce that he is not running again and will not back any Democrat until the one that is nominated at the convention next year.
Sure you do. Democrats don't need evidence to convict Trump. Someone mentioned a camera? GUILTY! Some pencil neck loser cried "Russian collusion" for 2 years? GUILTY. But you don't even pull your suspenders up at all the accusations against Biden. Why? Because you're a democrat. And at this point, it's redundant to point it out. All I'm doing is feeding your starvation for attention.
You're right... he's not Trump. He's equally bad at speaking but nowhere near as productive for Americans. This country was 100 times better on Trump's watch and you know it. Doesn't bother you he lied about his credentials, lied about campaign promises, lied about taking bribes, lied about his dirty son and just promised to build a railroad across an ocean. He's incompetent and doesn't have an honest or honorable bone in his body.
Biden is so bad that Obama waited a week to endorse him after being named the nominee. Even Obama knew and Joe sure didn't disappoint.
I just found out that Biden's kids were secretly running a business for Joe while he was in office, doing whatever Joe wanted and using Joe's influence to get better deals all over the world. Profits so far are at least $160 million and all of that will go to Joe when he retires.
What's that you say? It's not Biden that did that, it was t?
Well, that's different. Never mind.
What's that you say? It's not Biden that did that, it was t?
Well, that's different. Never mind.
Do you think Trump's kids said "10% for the big guy and you better write that check now or else?" Biden's kids don't run businesses. The only thing Hunter runs are drugs and a train on his dead brother's widow.
Just stop with the "but... but... but... Trump" bullshit. My cold, black heart is trying to save you from yourself, Fudd.
Once again…your views lean very much to one side.
I do find it weird how everytime someone testifies against the Biden’s or there is a hearing about alleged illegal activity the Biden family has been linked to, there is instantly another Trump indictment for your fellow leaning media outlets to run with.
Hüsker Dü
DA
Trump isn’t on your side he’s on his own side. You may have to find a new daddy.