News 7-29-08 Grand Sierra RGJ Article
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Posted by: Ken - 7/30/2008 8:13:56 AM
About time some major media finally reported on this. Of course what's funny is they're reporting on the same thing you've been reporting on, and due to the confidentiality agreements can't get much more info than you've gotten :)
Anyway in a tight credit market, money talks. If they want to get the remodel finished and get started on the first phase or two of their expansion plans, they're going to need a capital injection, stat. I think if these guys had a bit of a longer term outlook they'd be focused on building a profitable property over the long term which is not dependent on short term expansion plans. Then they could use their own banked money to finish remodels, build waterparks, etc.
A good question for the GSR group then might be whether they were ever really interested in the long term in the first place?
Posted by: James P - 7/30/2008 10:03:51 AM
This is a fascinating story unfolding. So what's your prediction of what Grand Resort is up to? It seems like you are leaving stuff out or something. So you still don't believe we're getting a water park even though the ceo guy said we are in the article you linked to?