Tilman trying to buy Ceasars Palace [update - sold to el Dorado corp]

Right... he's gonna actually spend the money.

 

Trump says the same thing

 

Caesars Rep: "And it says here you will owe a.....luxury tax for your team this year, am I correct?"

Tilman: "Say, we have James Harden. In his prime. We had to go all in."

Caesars Rep: "But didn't the Rockets flame out again?"

Tilman: "You can't go cheap when you have such competitive teams in the NBA."

Tilman: "Yes. Weeeeeeeeeeeell........I'm afraid we can't go through with this sale, Mister Fertitta. I'm sorry."

Icahn: "Tilman, YOU A**HOLE!"

Tilman: (sits upright in bed, drenched in sweat) "LUXURY TAX!" (dials number) "Daryl. Yeah, I know what time it is. Carter-Williams, Ennis, all those summer hires of yours? Bad stock. Gotta dump it."

 

Things you wish you’d been told or advised upon being a dad

Don’t believe everything you read son

 

I figured it out.

New Ceasar's Palace in Lake Charles.

People will have one of two options or both if they please at table games. Tip the Dealer or Tip "Luxury Tax" Pot.

 

Tilman elects not to pay luxury tax without a needle moving acquisition

"Tilman is cheap, he won't take on any risk, this team is doomed."

Tilman is cutting costs feverishly in all aspects of the organization

"This is is exactly what I'm talking about"

Ends up being rebutted immediately as false

[silence]

Tilman spends a lot of money on another business investment

"Tilman is making deals that have risk, this team is doomed"

Verdict: The sky is not falling. The jury is still out.

 

This is why the Rockets and this was TFs plan all along. I am not a fan and will not disclose any more than that but he needs the Rockets and his other marquee assets to appreciate quickly. He is heavily leveraged and sometimes the answer to that is to get insanely more leveraged in a massive play like this and his other casino investments that creates a lower cost of capital and creates an economies of scale effect. It gives him a much larger capital base that he can spread debt over and makes it easier later to buy him out. His personal debt position on a smaller group of assets looks very bad but much more normal on a much larger group of shared assets. It's the play that a lot of these guys have always seen as just moving pieces around on the board and offloading the risk onto everyone else.

 

Read the thread title as "Tilman trying to buy Ceasar Salad" and thought, "Damn, he really is broke."

 

as long as he doesn't eat it with a comb

 

Hope he has to sell the Rockets to a good owner to finance this purchase.

 

No need, his team will earn the hardware this season..

 

Something like 15 percent per annum RoR. Try finding that investment on the Street for your 85 million.

Wonder what the rate is on the bonds Icahn floating to finance the deal? Because you know he's not using much of his own money.

I hope this doesn't affect the Rockets at all, and as for the rest, good luck.

 

Even taking what you say is true, how could he possibly think the Rockets would appreciate from the wildly inflated price he paid, if they aren't getting a new stadium deal or a new PPV TV network? Which are the two traditional ways you make real money while owning the sports team. (Selling the team is the traditional third way, and using the team to drive up the value of your other land investments, a la Ratner in NJ/NY, and Magic with the Dodgers, is the newest model.)

 

I don't trust this greaseball fish salesman. If he can't find the money to pay House then we're sure as hell in trouble when he drops a cool $bil$ on Caesars.