Thank you for your input. These are the type of details I am trying to understand. I was thinking Tilman owns the Rockets in the same way he owns his other financial interests.
Interesting is that reverse merger is usually private company taking over public company. Landry's only recently went private after a long effort to do so and Caesar's is public. So it appears that private Landry's is attempting to take over public Caesar's. Except Caesar's Entertainment is worth more then Tilman's net worth so why would they do that?
Completely agree, no way a Casino company would own an NBA team, at least not yet. I assume it is already pretty Gray that Tilman owns the Rockets.
He does. He owns 100% of the Rockets, minus the smallish loan he took from Les. It’s only confusing when we discuss how he got the cash. His companies do not own the Rockets. wrt what owner the NBA governors voted on, it’s no different than any 100% personal owner. Another way to look at it, no Casino is actually majority owner of a major sports franchise. (Curious if that is even a federal law.) However, the owners of casinos have been allowed to personally buy teams...Maloofs and Tilman, and others I’m sure.
Damn Tilman, can you pay off my mortgage? I dont have that much left and Ive been and will be a fan of the Rockets for the rest of my life. Please dont move the Rockets to Vegas to play where Caesar used to live.
What’s the difference between a Casino entity owning a team vs an owner or managing partner who owns a casino owning a team? The optics are the same, just the corporate structure is slightly different. Also I don’t understand how a casino owner with ties to organized crime can own a professional sports team that would in turn have some control over the earnings of said casino. Let’s say the Rockets are in the WCF and the majority of the money are on the Rockets, wouldn’t it benefit Tillman to have them lay down and split the earnings?
HeyP could you break it down in layman's terms? In other words, do I need to eat more at Landry's or should I feel indifferent. Thanks.
I have a high moral view of Chinggis, I think he married every one of those 500. Surely he forcibly took others unjustly and should be damned for those, but I'd like to believe he had ceremonies in several religious backgrounds that he tolerated with that special group of 500. His whole life was just ceremonies, planning for ceremonies and clean up crew following those ceremonies. That and lots of mutton and ****ing and fighting.
For those of you who are ignorant of perhaps the greatest middle-age empire, check out the Hardcore History Segment.
Looks like CZR ended the day up 12%. I thought at first it was because investors liked the thought of gaining majority interest in Rockets/Landrys etc but evidently as part of the reverse merger they are going to pay CZR shareholders $13 a share should the reverse merger become a reality. In sounds to me given that this is a proposal for a reverse merger, in the event that it happens, CZR will be an acquirer of Rockets/Landry's etc.. rather than the other way around. I noted that there were some comments thinking that Tilman's interest in the Rockets would be carved out and that this would be more of a merger / acquisition between two casino / restaurant conglomerates. There is just not a lot of information out there so far and it will be interesting to see what happens as this thing develops or falls apart given Tilman's and CZR's massive amount of debt they are both carrying into this.
I'm a bit confused on whether they're merging Landry's and Caesar's, or just the Golden Nugget and Caesar's. Articles say GN and mention his other interests. But wouldn't seem right since the value probably wouldn't be there just for his GN interests.
This was the first Hardcore History podcast I listened to...just incredible! My younger son and I listen to these as soon as he churns out a new episode. So great.
If I had to guess they are planning on merging Landry's and Golden Nugget into CZR while leaving Rockets out of it. The reason I am thinking this is that one of the reports I read was that when it was all done, if this ever happens, is that CZR would be the surviving entity with Tilman proposed to be CEO and over the board of directors. Don't know if the current CEO of CZR would go along with that unless they are about to retire of if CZR is planning on creating another conglomerate within their conglomerate which they have been known to do. It's confusing at best at this point as there is not much substantiated info out there yet.
I read something similar in Bloomberg. It included that Tilman would become the largest shareholder, so what the current CEO wants can be irrelevant. In fact, it would be the CEO's job to make the merger happen, if that is what the current CZR shareholders/board want, and if that includes him being replaced by the top shareholder (and probably the better CEO), then ...
CZR's and El Dorado are merging today which should be good news for those of us that gamble at CZR's casinos. More places to visit. I would not be surprised if Tilman still comes in to play. From what I am hearing they may sell off some Harrah's brand properties to avoid antitrust issues. If they sold off the Harrah's in Las Vegas and other Harrah's properties around the country where they already have multiple properties it would make sense and at the same time expand Tilman's casino empire.