Golden Nugget Owner Says Casinos, Eateries Aren’t Bouncing ...

Landcadia Holdings II (LCA) is Worth Your Investment, and Here’s Why… $LCA

Landcadia Holdings II (LCA) is Worth Your Investment, and Here’s Why…
Tilman J Fertitta, owner of Golden Nugget casinos and CEO of LCA, holds a net worth of $4.9 Billion according to Forbes. He entered a purchase agreement on June 28th, 2020 in an effort to merge both of these companies, here is the 8k sec filing. The merge is set to happen sometime in the 3Q changing ticker from LCA to GNOC, as stated in this article. Although there is no current price target on LCA, it had an enterprise valuation of $385.94 M on 09/30/2019, fairly close to its competitor DraftKings (DKNG) with a valuation of $392.86 M on 09/30/2019. However, it should be noted that these valuations were published before the actual merger of DraftKings and Diamond Eagle Acquisition Corp.
We could have a similar scenario with LCA once the merger happens, potentially surpassing DraftKings' share price, since Golden Nugget has continued producing revenue throughout this pandemic. Golden Nugget is leading the New Jersey online casino market and was responsible for 33.8% of the state’s $85.9m gross gaming revenue in May alone, according to igaming. We could see an increase in revenue for GNOC given that the following states have active bills looking to legalize sports betting: Alabama, Alaska, Arizona, California, Connecticut, Hawaii, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, Nebraska, Ohio, South Dakota, Vermont, and Virginia. If California were to do so, it could generate them an approximate 700 million every year in tax revenue, according to the Los Angeles Times. Texas could potentially be open to online gambling as well, as Fertitta has joined Governor Abbott’s advisory council to safely reopen the state. Fertitta is not only looking out for himself, but his investors as well.
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The former CEO of Wells Fargo wants healthy Americans back at work next month. “We’ll gradually bring those people back and see what happens. Some of them will get sick, some may even die, I don’t know,”

The former CEO of Wells Fargo wants healthy Americans back at work next month. “We’ll gradually bring those people back and see what happens. Some of them will get sick, some may even die, I don’t know,” Dick Kovacevich, who was also the bank’s chairman until 2009, told Bloomberg News. “Do you want to suffer more economically or take some risk that you’ll get flu-like symptoms and a flu-like experience? Do you want to take an economic risk or a health risk? You get to choose.”
Quote 2
Tilman Fertitta, owner of Golden Nugget casinos and Bubba Gump Shrimp, is calling on authorities to let businesses reopen at limited capacity in a couple of weeks to avoid a long economic disaster. Fertitta, who also owns the Houston Rockets and is worth $3.2 billion, said his company is “doing basically no business.” His demand goes against a school of thought that says prematurely reopening the economy could kill more people and eventually cause more economic harm”
link to full article
🤔
Scott McMillan tweeted: “The fundamental problem is whether we are going to tank the entire economy to save 2.5% of the population which is (1) generally expensive to maintain, and (2) not productive."
🤯🤯🤯
submitted by hiddeninsite01 to CoronavirusNewYork [link] [comments]

A Comradely Reply to Alain Badiou: Wake The Fuck Up, You Dumb Fuck!

The Jobs are Gone!

Make Them Stay Gone!

For a long time, I have tried to argue, following theorists like Postone and Kurz, that most of the labor in our society is socially unnecessary. I have tried to prove this in a hundred and one ways to no avail.
No radicals will listen.
Today, we have a black swan -- an event no one could have predicted; it it a public health emergency. This public health emergency has nothing directly to do with the subject I have been discussing. In fact, it at first appears to contradict my point, but, on closer inspection, it completely verifies my argument.
How so?
Suppose, in your town the main business district were suddenly flooded with a broken sewer pipe. As a result of this little disaster, the entire business area was rendered hazardous to human use. The government would be forced to step in and shut all the businesses in the area down to protect the public health.
As a consequence of this attempt to protect the health of the public, workers of the businesses located in the disaster area would be put out of work; they would lose their jobs. They would be unable to pay their rent, buy food, etc. The owners of the businesses would be threatened with bankruptcy, etc. The government would enforce a simple public health measure, but it would have profound economic consequences.
This is what is happening today across the entire planet, and it affects perhaps a quarter of the global workforce by one estimate I have seen.
Now, here is the thing: As far as I can tell, we are several months into this public emergency, yet no one is hungry for lack of food. Go to your local grocery store and you will see that it is mostly well stocked with goods. Aside from the panic hoarding in local communities, there are no shortages of basic goods.
How is that?
In the United States, the present series of lockdowns put in place by governnors since March 19 affects 49 percent of the US labor force and 54 percent of GDP, but there are no shortages of consumer goods anywhere! The affected workers and that portion of the economy laying idle could have been loaded on a rocket and transported to Mars and the effect would have been the same.
No shortages, anywhere.
This is probably because the workers in question are entirely superfluous to productive employment of capital and the so-called "output" of these workers is entirely fictitious.
The workers idled by the stay-at-home orders produced nothing essential to society -- this is why they were called "non-essential".
So, we have two issues that should not be conflated: The first is a public health problem. The second is an economic problem created when, to address the public health problem, the states aggressively began shutting down what they defined as "non-essential businesses activities" all over the world.
But what are these non-essential business activities?
According to Business Insider from March 24, 2020, "Nonessential businesses are generally recreational in nature." They include businesses like theaters, gyms and recreation centers, salons and spas, museums, casinos and racetracks, shopping malls, bowling alleys, sporting and concert venues, restaurants and bars, liquor stores, non-essential industrial manufacturing, construction, labor unions, marijuana dispensaries, home office supply stores. Beyond this group, a huge swathe of secondary sites that have not been directly shut down are being hit hard, and are virtually shut down, like hotel and airlines. (Hotels in New York, for instance, are running at 16% occupancy.)
It should be clear from this list that "non-essential" is not the same as not "socially necessary" -- a category I have been talking about for years. A casino may be a capital and it might indeed produce a commodity (of sorts) for sale at a profit. However, for purposes of the state in this public health situation, it is a non-essential business operation.
How does non-essential differ from non-socially necessary? Simple: the state does not and cannot determine what labor is socially necessary, but it can determine what labor is non-essential. Labor that is non-essential is defined by the state. Labor that is non-socially necessary is determined by the law of value. The state cannot define a particular labor as non-socially necessary simply by issuing a public order or decree. Not even Donald Trump or Gov. Cuomo can do this. As an approximation, we can say non-essential refers to the usefulness of the thing, while socially necessary refers to the Marxian labor value of the thing.
The state is basically saying, "We do not find the operation of a casino useful during this pandemic", or "We find the operation of a casino during this pandemic to be harmful to the public health."
On the other side are capitalists, like Tom Golisano, owner of payroll processor Paychex Inc., and Tilman Fertitta, owner of Golden Nugget casinos and Bubba Gump Shrimp. These billionaires want to get the wage slaves back to work as soon as possible, for obvious reasons. Their personal capital is tied to ventures that have been declared "non-essential" (not useful or even harmful) by the state and they want that designation lifted as soon as possible.
According to the press, Golisano wants people to go back to their jobs in states that have been relatively spared by the coronavirus, but remain at home in hot spots. "You have to weigh the pros and cons" between the lives of workers and his profits, says Golisano. His approach, which seems to be adopted by Washington, is to stagger wage slaves back to work according to the local risk posed in their locality and age group.
To be clear, this is NOT just Trump's approach. THIS IS WASHINGTON'S APPROACH. This approach is likely buried in the so-called stimulus bill just passed by the House and Senate. Which is why they want it passed so quickly with as little fuss as possible.
Basically, they want people's live put at risk to reopen the casinos of billionaires like Golisano and Fertitta! and they don't want communists to have time to question it.
Meanwhile, communists like Badiou are planning to sit at home and "work, mentally as in writing and by correspondence, on new figures of politics", while casinos, shopping malls, coffee shops, baseball stadiums are all reopened for the profit of billionaires like Golisano and Fertitta at the risk of the health millions of minimum wage proletarians.
Badiou, wake up you dumb fuck!
No proletarians need these jobs.
We only need a reduction of hours of labor.
The jobs are already gone.
Let them stay gone!
Don't let them come back!
This is our chance to put a stake in the vampire's chest!
submitted by commiejehu to abolishwagelabornow [link] [comments]

Caesars says continues to look at options after Icahn urges sale of company

The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File PhotoFebruary 20, 2019
(Reuters) – Caesars Entertainment Corp said on Wednesday it will continue to look at options for the company, a day after activist investor Carl Icahn urged the U.S. casino operator to consider selling itself.
Icahn, who disclosed a 9.78 percent stake in Caesars on Tuesday, is also seeking board representation.
“The board and management have engaged in discussions with Mr. Icahn and expect to continue a constructive dialogue,” Caesars said in a statement.
“The board remains open to all reasonable alternatives to enhance value for Caesars’ stockholders and has and will continue to evaluate strategic alternatives presented to it,” the company added.
Icahn’s push for a sale of the company comes after Caesars rejected a merger approach last year by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy in 2017 after failing to cope with some $25 billion in debt.
Its long-term debt stood at about $8.81 billion as of Sept. 30, 2018.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/caesars-says-continues-to-look-at-options-after-icahn-urges-sale-of-company/
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submitted by peterboykin to MagaFirstNews [link] [comments]

Caesars says continues to look at options after Icahn urges sale of company

The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File PhotoFebruary 20, 2019
(Reuters) – Caesars Entertainment Corp said on Wednesday it will continue to look at options for the company, a day after activist investor Carl Icahn urged the U.S. casino operator to consider selling itself.
Icahn, who disclosed a 9.78 percent stake in Caesars on Tuesday, is also seeking board representation.
“The board and management have engaged in discussions with Mr. Icahn and expect to continue a constructive dialogue,” Caesars said in a statement.
“The board remains open to all reasonable alternatives to enhance value for Caesars’ stockholders and has and will continue to evaluate strategic alternatives presented to it,” the company added.
Icahn’s push for a sale of the company comes after Caesars rejected a merger approach last year by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy in 2017 after failing to cope with some $25 billion in debt.
Its long-term debt stood at about $8.81 billion as of Sept. 30, 2018.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/caesars-says-continues-to-look-at-options-after-icahn-urges-sale-of-company/
via IFTTT
submitted by peterboykin to MagaOneRadio [link] [comments]

Caesars says continues to look at options after Icahn urges sale of company

The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File PhotoFebruary 20, 2019
(Reuters) – Caesars Entertainment Corp said on Wednesday it will continue to look at options for the company, a day after activist investor Carl Icahn urged the U.S. casino operator to consider selling itself.
Icahn, who disclosed a 9.78 percent stake in Caesars on Tuesday, is also seeking board representation.
“The board and management have engaged in discussions with Mr. Icahn and expect to continue a constructive dialogue,” Caesars said in a statement.
“The board remains open to all reasonable alternatives to enhance value for Caesars’ stockholders and has and will continue to evaluate strategic alternatives presented to it,” the company added.
Icahn’s push for a sale of the company comes after Caesars rejected a merger approach last year by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy in 2017 after failing to cope with some $25 billion in debt.
Its long-term debt stood at about $8.81 billion as of Sept. 30, 2018.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/caesars-says-continues-to-look-at-options-after-icahn-urges-sale-of-company/
via IFTTT
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Caesars says continues to look at options after Icahn urges sale of company

The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File PhotoFebruary 20, 2019
(Reuters) – Caesars Entertainment Corp said on Wednesday it will continue to look at options for the company, a day after activist investor Carl Icahn urged the U.S. casino operator to consider selling itself.
Icahn, who disclosed a 9.78 percent stake in Caesars on Tuesday, is also seeking board representation.
“The board and management have engaged in discussions with Mr. Icahn and expect to continue a constructive dialogue,” Caesars said in a statement.
“The board remains open to all reasonable alternatives to enhance value for Caesars’ stockholders and has and will continue to evaluate strategic alternatives presented to it,” the company added.
Icahn’s push for a sale of the company comes after Caesars rejected a merger approach last year by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy in 2017 after failing to cope with some $25 billion in debt.
Its long-term debt stood at about $8.81 billion as of Sept. 30, 2018.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/caesars-says-continues-to-look-at-options-after-icahn-urges-sale-of-company/
via IFTTT
submitted by peterboykin to TheRightPill [link] [comments]

Caesars says continues to look at options after Icahn urges sale of company

The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File PhotoFebruary 20, 2019
(Reuters) – Caesars Entertainment Corp said on Wednesday it will continue to look at options for the company, a day after activist investor Carl Icahn urged the U.S. casino operator to consider selling itself.
Icahn, who disclosed a 9.78 percent stake in Caesars on Tuesday, is also seeking board representation.
“The board and management have engaged in discussions with Mr. Icahn and expect to continue a constructive dialogue,” Caesars said in a statement.
“The board remains open to all reasonable alternatives to enhance value for Caesars’ stockholders and has and will continue to evaluate strategic alternatives presented to it,” the company added.
Icahn’s push for a sale of the company comes after Caesars rejected a merger approach last year by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy in 2017 after failing to cope with some $25 billion in debt.
Its long-term debt stood at about $8.81 billion as of Sept. 30, 2018.
(Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/caesars-says-continues-to-look-at-options-after-icahn-urges-sale-of-company/
via IFTTT
submitted by peterboykin to The_NewDonald [link] [comments]

The owner of the Golden Nugget says casinos and eateries aren’t bouncing back. Why America should open back up sooner than later.

submitted by redithotx3 to Economics [link] [comments]

The owner of the Golden Nugget is refusing to pay his employees or allow them to take PTO while the casino is closed.

Fuck that guy.
submitted by mrmarty922 to LakeCharles [link] [comments]

The owner of the Golden Nugget says casinos and eateries aren’t bouncing back. Why America should open back up sooner than later.

The owner of the Golden Nugget says casinos and eateries aren’t bouncing back. Why America should open back up sooner than later. submitted by redithotx3 to economy [link] [comments]

@business: Tilman Fertitta, the owner of the Golden Nugget casinos, has approached Caesars about a possible merger https://t.co/1IevchKYta

submitted by -en- to newsbotbot [link] [comments]

NBA Owners' net worth (Dan Gilbert's net worth rose from $7.5 billion to $45.3 billion this year)

...After his company went public. I had to include that in the title. Maybe now he won't be such a cheap bastard with his GMs. I had no idea Gilbert was now the second richest owner in the league.
Which made me wonder what other owners are worth (the title of this post was almost "why is Tilman Fertitta such a cheap bastard while Joe Lacob spends money like he thinks the shit's gonna rot?").
Which brings us to this handy Forbes list from March:
1. Steve Ballmer (Los Angeles Clippers): $51.4 billion
Ballmer scored a huge win this week for his dream of building a new arena. He bought the Forum for $400 million from the Madison Square Garden Company, which tried to block a new Clippers arena near the Forum in Inglewood, California.
2. Philip Anschutz (Los Angeles Lakers): $11.2 billion
Anschutz owns one-third of the Lakers, plus the arena in which they play, the Staples Center, in addition to the NHL’s Kings. \For those wondering, it's hard to find a reliable source on Jeanie's net worth but according to unreliable sources it's in the ballpark of $500 million*
3. Stanley Kroenke (Denver Nuggets): $10 billion
The real estate and sports mogul owns teams in the NBA, the NHL, the NFL, MLS and the Premier League.
4. Joseph Tsai (Brooklyn Nets): $9.9 billion
The cofounder of Alibaba Group completed his purchase of the Nets last year for $2.3 billion and bought the Barclays Center for an additional $1 billion.
5. Robert Pera (Memphis Grizzlies): $7.1 billion
Pera owns nearly three-quarters of wireless equipment maker Ubiquiti Networks. He was the lead investor in the Grizzlies purchase in 2012.
6. Daniel Gilbert (Cleveland Cavaliers): $6.2 billion
Gilbert made his first fortune from Quicken Loans, the largest online mortgage lender, which he cofounded in 1985 at 22 years old.*List is from March, before the IPO
7. Tom Gores (Detroit Pistons): $5.7 billion
Gores and his brother Alec are both private equity billionaires. The Pistons opened a new $90 million headquarters and training facility in September.
8. Micky Arison (Miami Heat): $5.3 billion
Arison’s net worth plummeted 33% over the past six weeks with the collapse in the stock price of Carnival Corp. The world’s largest cruise ship operator was founded by Arison’s father in 1972.
9. Tilman Fertitta (Houston Rockets): $4.4 billion
Fertitta furloughed roughly 40,000 employees at his casino and restaurant empire to curb the economic impact caused by coronavirus-induced shutdowns. His fortune is derived from his ownership of the Golden Nugget Casinos and Landry’s, a Texas-based restaurant and entertainment company.
10. Mark Cuban (Dallas Mavericks): $4.3 billion
Cuban was one of the first sports team owners to commit to paying hourly arena workers for games missed during the coronavirus crisis. He’s invested more than $20 million as a “shark” on ABC’s popular Shark Tank show.
11. Joshua Harris (Philadelphia 76ers): $3.7 billion
Harris cofounded private equity powerhouse Apollo Global Management in 1990 with fellow billionaires Leon Black and Marc Rowan. He remains a managing director there.
12. Gayle Benson (New Orleans Pelicans): $3.2 billion
Benson inherited the Pelicans and the NFL’s Saints when her husband, Tom, died in 2018.
13. Glen Taylor (Minnesota Timberwolves): $2.8 billion
His printing firm, Taylor Corp., generates more than $2 billion in revenue annually. Taylor also owns stakes in Minnesota’s MLS and WNBA teams.
14. Herb Simon (Indiana Pacers): $2.6 billion
The real estate mogul bought the Pacers with his since-deceased brother, Melvin, in 1983, for $10.5 million. Simon Property Group is one of the world’s largest real estate investment trusts, with 206 properties in the U.S.
15. Antony Ressler (Atlanta Hawks): $2.4 billion
Ressler cofounded private equity firm Ares Management in 1997. He owns a small piece of the Milwaukee Brewers, in addition to his controlling stake in the Hawks.
16. Michael Jordan (Charlotte Hornets): $2.1 billion
The NBA’s GOAT sold a minority stake in the Hornets in September in a deal that valued the team at $1.5 billion. Nike pays Jordan more than $100 million annuallybased on growing sales for the company’s Jordan Brand.
17. Marc Lasry (Milwaukee Bucks): $1.8 billion
Lasry, a hedge fund titan, joined Wes Edens to buy the Bucks in 2014 for $550 million. He was born in Morocco and moved to the U.S. at age 7 with his family.
18. Gail Miller (Utah Jazz): $1.7 billion
Miller transferred ownership of the Jazz in 2017 to a family legacy trust to deter her heirs from selling or moving the team. Gail and her since-deceased husband, Larry, bought the team for $22 million in 1986.
19. Jerry Reinsdorf (Chicago Bulls): $1.5 billion
Reinsdorf led a group of investors who bought a controlling stake in the Bulls for $9.2 million in 1985. Good timing. It was one year after the team drafted Michael Jordan, who led the Bulls to six NBA titles. The team is now worth $3.2 billion.
20. Theodore Leonsis (Washington Wizards): $1.4 billion
Leonsis initially built his fortune as a senior executive at AOL, before investing in sports teams like the Wizards and the NHL’s Capitals.
*Not included on the list but googled for your edification:
DeVos Family (Magic): $5.4 billion
James Dolan (Knicks): $2 billion
Joe Lacob (Warriors): $1.2 billion
Vivek Randive (Kings): $700 million
Robert Sarver (Suns): $400 million
Jody Allen (Trail Blazers): The sister of Microsoft cofounder, Paul G. Allen, took control of the team after his death. At the time her brother was worth $20 billion though he intended to give most of his fortune away...
Boston Basketball Partners LLC (Celtics): An American local private investment group formed to purchase the Boston Celtics
Maple Leaf Sports & Entertainment (Raptors): The Raptors are a subsidiary of MLSE
The Professional Basketball Club, LLC (Thunder): A group of OKC businessmen "who represent a wide variety of local and national business interests" owns the Thunder
Spurs Sports & Entertainment LLC (Spurs): An American sports & entertainment organization, based in San Antonio, Texas owns the San Antonio Spurs
submitted by whoriasteinem to nba [link] [comments]

Let's talk about Tillman Fertitta, the owner of the Houston Rockets, being exposed in a New York Times bombshell as having asked POTUS for special bailout favors during a VIP visit to the White House

"Rockets owner Tilman Fertitta rebukes Trump, stands by players"
The above headline is from the end of August, when the players (lead by guys like Fred VanVleet, Jalen Brown, and George Hill) decided to put a pause on the NBA playoffs to take a stand for social justice.
The article discusses comments made by Houston Rockets owner Tilman Fertitta. Fertitta, who had been on the wrong side of the Hong Kong controversy last year, had apparently taken the right side for once. He stood by his players and "rebuked" the President's comments:
“I love that they all stood together,” said Fertitta, known best for his restaurant (Landry’s Inc.) and casino (Golden Nugget) empires. He was speaking in response to a question about the actions by NBA players.
Fertitta also pushed back against new comments from U.S. President Donald Trump, who said Thursday that it was “not a good thing” that the NBA had become “like a political organization.”
“Everybody has a right as an individual,” Fertitta said. “I think that is not a good statement. I don’t know why he made that statement.”
“It’s disappointing,” Fertitta added. “Everybody, right now, is somewhat of a political organization. That’s why we all need to work together to pull everybody to solve all these issues. I’m sorry he said that.”
Fast forward to October 10 when the New York Times dropped this bombshell. I won't get into the general details of the article as the purpose of this thread isn't political.
What's important is the following excerpt, sourced with comment from Walter Schaub on Twitter:
Schaub: This excerpt from today’s NY Times bombshell is horrifying. Trump tells Mnuchin to try to help a customer of his, emphasizing that the customer had never missed a payment to him.
NYT Excerpt: When he summoned restaurant executives to the White House in May to discuss the pandemic, they included Tilman Fertitta, a billionaire who had once operated a Rainforest Cafe in a Trump casino. Mr. Fertitta complained that bad publicity had forced him to return millions of dollars in federal aid intended to help strapped small businesses, according to a White House transcript. He asked that the administration create a second fund "for the larger private restaurateur."
No such fund would materialize, but Mr. Trump turned to his treasury secretary, Steven Mnuchin. "Steve, what do you think about that?" he asked.
When Mr. Mnuchin was noncommittal, Mr. Trump praised Mr. Fertitta. "You've paid me rent for a long time," he said, adding that Mr. Fertitta had never missed a payment.
"Steve," he said, "it's an interesting case. OK? Do the best you can."
So in a VIP visit to the White House, Fertitta complained about having to return money that was meant for small businesses suffering from the pandemic and requested a special bail out be created for larger private restaurant owners. The President immediately implored his treasury secretary to "do the best you can" to work something out because Fertitta had paid him rent for a long time.
While Fertitta would want you to believe that he's a man of the people, that he "stood" with his players and rebuked comments from Trump in August, he had actually been chumming it up with the President and looking to curry favors behind the scenes for months before.
Edit: Clarification on the small businesses comment.
submitted by twistedlogicx to nba [link] [comments]

DD: Biggest publicly traded online betting company since Draft Kings. LCAis merging with Golden Nugget Online Gaming into GNOG Friday, 12-18-20. Discounted now after last week. Stop gambling on meme stocks like broke degenerates and bet on the online gambling industry like big money degenerates.

DD: Biggest publicly traded online betting company since Draft Kings. LCAis merging with Golden Nugget Online Gaming into GNOG Friday, 12-18-20. Discounted now after last week. Stop gambling on meme stocks like broke degenerates and bet on the online gambling industry like big money degenerates.
EDIT: UP 10% today 2 more days to go. Stimulus is likely on it's way so people are buying like crazy. Vaccines are releasing. Lets go.
TL;DR at the bottom for your short attention spans.
You heard of Draft Kings? Remember how much that stocked jumped up? $10 to $50 in 3 months, that's a 400% increase. Did pretty well didn't it. It's been the only publicly traded online betting company on the stock market till this week.
Landcadia Holdings II LCAis merging with Golden Nugget Online Gaming to become $GNOG on Friday 12-18-20.
The upsides on this company are huge:
  • Net Revenue of $25.9 million compared to $13.5 million during the same period in 2019, an increase of 92%
  • Gross Gaming Revenues of $28.9 million, compared to $14.9 million during the same period in 2019, an increase of 93%,
  • Operating Income of $8.2 million versus $4.2 in the third quarter of 2019, an increase of 92%.
The owner is Tilman Fertitta, billionaire businessman who owns the Golden Nugget casino and betting chain, the Houston Rockets and Landry's Inc. which is the parent company that owns the franchise rights to Bubba Gump, Joe's Crab Shack, Morton's steak house, Rainforest Cafe among 40 other popular restaurants. He also owns a variety of other properties and business ventures.
"In 2018, his net worth was estimated at $4.5 billion, placing him at No. 153 on the Forbes 400 list of the wealthiest Americans;[1] Forbes calls him the "World's Richest Restaurateur".[6] "
https://en.wikipedia.org/wiki/Tilman_Fertitta
https://en.wikipedia.org/wiki/Landry%27s,_Inc.#Properties_and_subsidiaries
The downs sides:
The only downsides I have found is that LCAwas created by Tilman, which some people find sketchy, but makes a lot of sense to me. He was looking to bring his company public and wanted extra investments to bring one of his most successful companies public.
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Online betting is an ever growing industry and in my opinion Golden Nugget is the only other online gambling company worth investing in besides Draft Kings.
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
Source: https://www.prnewswire.com/news-releases/golden-nugget-online-gaming-reports-record-third-quarter-revenue-301161354.html

https://www.grandviewresearch.com/industry-analysis/online-gambling-market
Full Disclosure: I obviously have shares in this.
TL;DR
LCAis merging with Golden Nugget Online Betting on Friday, 12-18-20 into $GNOG. Last weeks shit fuckery dropped it down and I think it'll drop a little more on Monday, making it a good time to get in on the only other publicly traded online betting company besides Draft Kings. It's got 4 days to rally and I think it'll pop hard on merger.
This is finally a SPAC with an actually valuable company behind it, a successful billionaire owner and a huge injection of money coming. I am willing to bet that this online betting company will start to moon starting on Friday's merger vote or the following week after the ticker changes.
submitted by LillyTheElf to wallstreetbets [link] [comments]

GNOG a pure online gambling stock

GNOG a pure online gambling stock
I haven't seen a lot people who have talked about GNOG on this sub. GNOG is golden nugget online gaming and it's a great company to look into. They currently have a market cap of $2 billion but I think there is room for a lot of growth. The best thing is... THEY ARE PROFITABLE!!
GNOG is in a fast growing sector. More and more states are allowing online gambling. They are mainly focussed on online casino but they do also offer sports wagering. Online casino is more profitable than sports wagering
They have a very high growth rate. They grew revenues 55% just over the months of januari to april while the overall NJ market grew 40% in that time. This means they are taking more market share.

https://preview.redd.it/itsfa0s22j861.png?width=1043&format=png&auto=webp&s=a0a92a105679b7303a7c4c70c107eddceb0d143a
Golden nugget already is a well known name so they already have a ton of brand recognition. The owner is also Tilman Fertitta so you can expect a ton of pumps when he is on CNBC. Papa fertitty will get GNOG to the moon.
The company just started trading under the ticker GNOG so it's still going to have huge price swings. But in the long run, if we look at what multiples DKNG is trading, this has potential.

I got 1500 shares of GNOG cuz I'm way to big of a pussy to trade options.
submitted by simonsbets to wallstreetbets [link] [comments]

DD: Biggest publicly traded online betting company since Draft Kings. LCAis merging with Golden Nugget Online Gaming into GNOG Friday, 12-18-20. Discounted now after last week. Stop gambling on meme stocks like broke degenerates and bet on the online gambling industry like big money degenerates.

DD: Biggest publicly traded online betting company since Draft Kings. LCAis merging with Golden Nugget Online Gaming into GNOG Friday, 12-18-20. Discounted now after last week. Stop gambling on meme stocks like broke degenerates and bet on the online gambling industry like big money degenerates.
TL;DR at the bottom for your short attention spans.
You heard of Draft Kings? Remember how much that stocked jumped up? $10 to $50 in 3 months, that's a 400% increase. Did pretty well didn't it. It's been the only publicly traded online betting company on the stock market till this week.
Landcadia Holdings II LCAis merging with Golden Nugget Online Gaming to become $GNOG on Friday 12-18-20.
The upsides on this company are huge:
  • Net Revenue of $25.9 million compared to $13.5 million during the same period in 2019, an increase of 92%
  • Gross Gaming Revenues of $28.9 million, compared to $14.9 million during the same period in 2019, an increase of 93%,
  • Operating Income of $8.2 million versus $4.2 in the third quarter of 2019, an increase of 92%.
The owner is Tilman Fertitta, billionaire businessman who owns the Golden Nugget casino and betting chain, the Houston Rockets and Landry's Inc. which is the parent company that owns the franchise rights to Bubba Gump, Joe's Crab Shack, Morton's steak house, Rainforest Cafe among 40 other popular restaurants. He also owns a variety of other properties and business ventures.
"In 2018, his net worth was estimated at $4.5 billion, placing him at No. 153 on the Forbes 400 list of the wealthiest Americans;[1] Forbes calls him the "World's Richest Restaurateur".[6] "
https://en.wikipedia.org/wiki/Tilman_Fertitta
https://en.wikipedia.org/wiki/Landry%27s,_Inc.#Properties_and_subsidiaries
The downs sides:
The only downsides I have found is that LCAwas created by Tilman, which some people find sketchy, but makes a lot of sense to me. He was looking to bring his company public and wanted extra investments to bring one of his most successful companies public.
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https://preview.redd.it/80gxy9mln7561.png?width=600&format=png&auto=webp&s=cc36b549abfbea647f3dc231c6390f6910050556
Online betting is an ever growing industry and in my opinion Golden Nugget is the only other online gambling company worth investing in besides Draft Kings.
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
Source: https://www.prnewswire.com/news-releases/golden-nugget-online-gaming-reports-record-third-quarter-revenue-301161354.html
📷
https://www.grandviewresearch.com/industry-analysis/online-gambling-market
TL;DR
LCAis merging with Golden Nugget Online Betting on Friday, 12-18-20 into $GNOG. Last weeks shit fuckery dropped it down and I think it'll drop a little more on Monday, making it a good time to get in on the only other publicly traded online betting company besides Draft Kings. It's got 4 days to rally and I think it'll pop hard on merger.
This is finally a SPAC with an actually valuable company behind it, a successful billionaire owner and a huge injection of money coming. I am willing to bet that this online betting company will start to moon starting on Friday's merger vote or the following week after the ticker changes.
submitted by LillyTheElf to smallstreetbets [link] [comments]

DD: Biggest publicly traded online betting company since Draft Kings. $LCA is merging with Golden Nugget Online Gaming into $GNOG Friday, 12-18-20. Discounted now after last week, thinking it'll go off on merger vote date or after ticker change. Details in post.

DD: Biggest publicly traded online betting company since Draft Kings. $LCA is merging with Golden Nugget Online Gaming into $GNOG Friday, 12-18-20. Discounted now after last week, thinking it'll go off on merger vote date or after ticker change. Details in post.
Landcadia Holdings II $LCA is merging with Golden Nugget Online Gaming to become $GNOG on Friday 12-18-20.
Golden Nugget Online Betting is about to be the only other publicly traded online betting company besides Draft Kings.
The upsides on this company are huge:
  • Net Revenue of $25.9 million compared to $13.5 million during the same period in 2019, an increase of 92%
  • Gross Gaming Revenues of $28.9 million, compared to $14.9 million during the same period in 2019, an increase of 93%,
  • Operating Income of $8.2 million versus $4.2 in the third quarter of 2019, an increase of 92%.
The owner is Tilman Fertitta, billionaire businessman who owns the Golden Nugget casino and betting chain, the Houston Rockets and Landry's Inc. which is the parent company that owns the franchise rights to Bubba Gump, Joe's Crab Shack, Morton's steak house, Rainforest Cafe among 40 other popular restaurants. He also owns a variety of other properties and business ventures.
"In 2018, his net worth was estimated at $4.5 billion, placing him at No. 153 on the Forbes 400 list of the wealthiest Americans;[1] Forbes calls him the "World's Richest Restaurateur".[6] "
https://en.wikipedia.org/wiki/Tilman_Fertitta
https://en.wikipedia.org/wiki/Landry%27s,_Inc.#Properties_and_subsidiaries
The downs sides:
The only downsides I have found is that LCA was created by Tilman, which some people find sketchy, but makes a lot of sense to me. He was looking to bring his company public and wanted extra investments to bring one of his most successful companies public.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------
Online betting is an ever growing industry and in my opinion Golden Nugget is the only other online gambling company worth investing in besides Draft Kings.
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
Source: https://www.prnewswire.com/news-releases/golden-nugget-online-gaming-reports-record-third-quarter-revenue-301161354.html

https://preview.redd.it/auy6cwqh24561.png?width=600&format=png&auto=webp&s=ee46e052a3328cfab735fd86dfbb366f4f732e65
https://www.grandviewresearch.com/industry-analysis/online-gambling-market
TL;DR
$LCA is merging with Golden Nugget Online Betting on Friday, 12-18-20 into $GNOG. Last weeks shit fuckery dropped it down and I think it'll drop a little more on Monday, making it a good time to get in on the only other publicly traded online betting company besides Draft Kings. It's got 4 days to rally and I think it'll pop hard on merger.
This is finally a SPAC with an actually valuable company behind it, a successful billionaire owner and a huge injection of money coming. I am willing to bet that this online betting company will start to moon starting on Friday's merger vote or the following week after the ticker changes.
submitted by LillyTheElf to SPACs [link] [comments]

Hearing set on Golden Nugget owner's venture to go public with online gaming LCA LCAHW

"State gaming regulators will hold a special meeting next week to consider a request by Golden Nugget Atlantic City to essentially split off internet gaming operations from its brick-and-mortar casino and take the new digital entity public.
Golden Nugget has petitioned the state to approve a merger that would result in the formation of a distinct online gaming company, licensed in New Jersey through the land-based casino, whose shares would be sold on Nasdaq. Federal regulators also must approve the deal before it is finalized.
The Casino Control Commission will hold a public hearing at 10 a.m. Wednesday."
https://pressofatlanticcity.com/news/local/hearing-set-on-golden-nugget-owners-venture-to-go-public-with-online-gaming/article_1cdc8415-1509-5ac3-9050-efefb35b2172.html
submitted by SPAC_Time to Spacstocks [link] [comments]

[Richardson] Billionaire Restaurant CEO Tilman Fertitta Tells Fox News He Did His 45,000 Employees a ‘Favor’ by Furloughing Them So Quickly

Link to the article: https://www.mediaite.com/news/billionaire-restaurant-ceo-tells-fox-news-he-did-his-45000-employees-a-favor-by-furloughing-them-so-quickly/
The billionaire owner of the Landry’s restaurant empire told Fox News that his move to swiftly furlough almost all of his 45,000 employees was a “favor” that would help them get unemployment quicker.
Tilman Fertitta, whose portfolio includes ownership of the NBA’s Houston Rockets, as well as Las Vegas’ Golden Nugget casino and nation franchise chains like Joe’s Crab Shack , told Ingraham Angle guest host Brian Kilmeade that laying off workers as soon as possible was a lesson he learned after having survived several recessions. Fertitta’s latest net worth is estimated by Forbes to be $4.8 billion, making him the 44th richest person in the world.
submitted by LonzoBBBall to nba [link] [comments]

Is LCA the next Draftkings? Spac waiting on merger!

Has anyone been following LCA Landcadia Holdings II? It’s waiting to merge and become ticket GNOG Golden Nugget Online Gaming by end of Q3 (Sept 30), New Jersey’s #1 online casino. They are heavily oriented to table and slot games and less exposed to sports betting/cancellation. They are have exponential growth potential and are expanding to Michigan and Pennsylvania in 2021. Lastly they crushed earnings this morning, growing income 74% year over year.
Seems like a rocket on the launch pad. What am I missing? All feedback welcome. Thanks in advance!
Today’s Earning Report
CNBC Coverage
submitted by devintravels23 to wallstreetbets [link] [comments]

[Bloomberg] Billionaire Fertitta Offers Record 15% Loan Rate to Save Empire

Local reporter Salman Ali just tweeted some more disturbing news on Fertitta from this Bloomberg article
Yikes. "[Fertitta] is offering potential lenders an interest rate of at least 15% to participate in a new $250M loan for his Golden Nugget casinos. The spread is the highest ever seen in the U.S. leveraged loan market excluding companies in bankruptcy..."
Clearly Tillman's businesses are struggling out here and he is on the lower end of stable wealth among owners in the league. Loans on top of loans for the Rockets, his restaurants, and his casinos is not a great look.
submitted by gulfside13 to nba [link] [comments]

GOOD NEWS UPDATE - LCA / GNOG STOCK HOLDERS [ GOLDEN ... Golden Nugget Ribbon Cutting & Interview with Tilman Fertitta Golden Nugget, Lake Charles (Birthday Weekend) Golden Entertainment to buy the Stratosphere Golden Nugget Biloxi Hotel & Casino Fat Service Jay Fennel, Golden Entertainment  SYNKROS Caesars Entertainment CEO on plummeting stock price Golden Nugget's Fertitta brings restaurant experience to table in proposed Caesars merger, analyst s

Atlanta Casino Push Gains Powerful Lobbyist, Golden Nugget Owner Ready to Bet on Georgia. Posted on: February 8, 2017, 03:00h. Last updated on: February 8, 2017, 02:10h. Golden Nugget Owner Says Casinos, Eateries Aren’t Bouncing Back By . Katherine Doherty. and . Davide Scigliuzzo. June 5, 2020, 8:43 PM EDT 3:01. Golden Nugget Owner Says Casinos, Eateries Aren ... Tilman Fertitta, owner of the Houston Rockets, plans to take part of his Golden Nugget casino and dining empire public, but Wall Streeters are wary of his debt, his past fundraising efforts and ... Golden Nugget owner Tilman Fertitta, who also owns the NBA’s Houston Rockets, floated the deal, which would come in the form of a reverse merger, to Caesars’ board last week but still awaits a ... The Texas billionaire who owns the Golden Nugget Atlantic City has gotten himself into a bit of trouble — by gambling at the casinos, of all things. Golden Nugget - Biloxi is one of 5 properties owned by Landry's, Inc.. The following ownership information is a subset of that available in the Gaming Business Directory published by Casino City Press. For more information about Gaming Business Directory products visit www.CasinoCityPress.com. Landry's, Inc. (Owner) Golden Nugget Owner Tilman Fertitta Reportedly Weighs IPO of Casinos, Restaurants. Posted on: December 1, 2020, 06:44h. Last updated on: December 2, 2020, 08:26h. The 62-year-old owner of Fertitta Entertainment, which operates Landry’s Inc., Golden Nugget casinos and the NBA’s Houston Rockets, said the 2018 addition of Hard Rock Hotel & Casino Atlantic ... Founded by Guy McAfee in 1946, the Golden Nugget casino and hotel complex in Las Vegas has undergone many changes, renovating, expanding and adding attractions over the years. It's one of the most ... Golden Nugget owner Fertitta ponders taking casino company public. By Ezra Amacher. Golden Nugget owner Tilman Fertitta is considering taking his casino and restaurant business public according to a Bloomberg report. An initial public offering would likely include Fertitta’s gaming and dining portfolio, which would be valued at several billion dollars. Fertitta’s ownership of the NBA ...

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GOOD NEWS UPDATE - LCA / GNOG STOCK HOLDERS [ GOLDEN ...

Chad Beynon, senior analyst at Macquarie, discusses reports that Tilman Fertitta, owner of the Golden Nugget Casinos, approached casino operator Caesars Ente... Owner of Golden Nugget Casinos approached Caesars Entertainment to propose merger - Duration: 3:34. CNBC Television 1,044 views. 3:34. Carl Icahn is building a stake in Caesars - Duration: 2:53. ... Golden Nugget Grand Opening Ceremonies hosted by GM and Executive V.P. Tom Pohlman and Interview with owner Tilman Fertitta. After one year and $150 million the renovations have been completed ... We are back in Biloxi, MS and we are at the Golden Nugget Hotel & Casino. We will be checking out the hotel, food, and one of their rooms! PLEASE SUBSCRIBE TO BE IN THE FAT FAM! :) https://www ... "The Golden Nugget Lake Charles is the newest and most luxurious resort on the Gulf Coast. Dubbed by savvy travelers the “Las Vegas of the South,” Dubbed by savvy travelers the “Las Vegas of ... Owner of Golden Nugget Casinos approached Caesars Entertainment to propose merger - Duration: 3:34. CNBC Television 992 views. 3:34. Lessons from historical bank failures: the City of Glasgow ... Owner of Golden Nugget Casinos approached Caesars Entertainment to propose merger - Duration: 3:34. CNBC Television 978 views. 3:34. The City of Las Vegas: The Early Years - Duration: 1:14:59. ... Share your videos with friends, family, and the world

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