Moody’s warns for slow recovery of Casino’s in Vegas
The Sky was the Limit 10-20 years ago in Las Vegas. Everything was possible and there were almost no ceilings to the amount of money that was spend on New casinos and resorts. Now a days the biggest gamblers arent found anymore in las Vegas. They are in some other place doing the gambling. Even the biggest casinos have alot of debts these days in Las Vegas.
MGM and Caesars have great debts on the financial year reports. The 90% consists of debts. Luckely for these companies these are long term debts and so the have time to recover. Hopefully the economy of the USA revovers before these great casinos are wiped from history.
With the worldwide crisis and the slow recovery of the US and Europe the question is if these landmarks will survive this crisis. We think that this year will be crucial for the world and its economy.
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