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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (4511)	10/31/2008 1:23:34 PM
From: Jane4IceCream	Read Replies (3) \| Respond to of 6370

SNDK @ 8.96 hod Jane

To: RockyBalboa who wrote (4511)	11/10/2008 6:21:11 PM
From: RockyBalboa	Respond to of 6370

LVS posted its results and while they missed by 9c, they were actually pretty good. It could be worth more, if not for the outright hostile environment for gaming outfits. >>>>>>>>>>>>>>>>>>> Press Release Source: Las Vegas Sands Corp. Las Vegas Sands Corp. Reports Third Quarter 2008 Results Monday November 10, 5:40 pm ET Announces Modifications to Global Development Program Company is in Process of Raising Approximately $2 Billion in Capital Quarterly Net Revenue Increases 67.2% to $1.11 Billion Quarterly Consolidated Adjusted Property EBITDAR Increases 48.4% to $243.8 Million The Venetian Macao's Non-Rolling Chip Table Games Drop and Slot Handle Each Reach Quarterly Records of $930.6 Million and $549.9 Million, Respectively LAS VEGAS, Nov. 10 /PRNewswire-FirstCall/ -- Las Vegas Sands Corp. (NYSE: LVS - News), today reported financial results for the quarter ended September 30, 2008. ADVERTISEMENT Company-Wide Operating Results Net revenue for the third quarter of 2008 increased 67.2% to $1.11 billion, compared to $661.0 million in the third quarter of 2007. Consolidated adjusted property EBITDAR in the third quarter of 2008 increased 48.4% to $243.8 million, compared to $164.3 million in the year-ago quarter. On a GAAP (Generally Accepted Accounting Principles) basis, operating income was $28.2 million versus an operating loss of $20.8 million in the third quarter of 2007. Adjusted net income (excluding loss on disposal of assets, pre-opening expense, development expense, and loss on early retirement of debt) was $8.1 million, or adjusted earnings per diluted share of $0.02, compared to $41.8 million, or adjusted earnings per diluted share of $0.12, in the third quarter of 2007. The decrease in adjusted net income of $33,7 million reflects increases in net interest expense and depreciation and amortization. On a GAAP basis, net loss in the third quarter of 2008 was $32.2 million, or $0.09 per diluted share, compared to net loss of $48.5 million, or $0.14 per diluted share, in the third quarter of 2007. The decrease in GAAP net loss of $16.3 million reflects the increases in operating income mentioned above and a benefit for income taxes, partially offset by an increase in interest expense and a decrease in other income.

To: RockyBalboa who wrote (4511)	11/11/2008 8:12:42 AM
From: RockyBalboa	Respond to of 6370

The market giveth, taketh away. GGP died, and left a decent hole in my book as well. Now that was a bad call, presumably the worst... Not GGP doing an LVS, but hopefully LVS doing a GGP now ----------------------------------------- General Growth Properties raises doubts about survival Tue Nov 11, 2008 12:43am EST NEW YORK, Nov 11 (Reuters) -- General Growth Properties Inc. GGP.N, the second-largest U.S. mall owner, said that its looming near-term debt raises doubts that it could continue operating and it would consider turning to the courts to protect the company from its creditors. The Chicago-based retail property company faces $1.13 billion in debt by the end of the year, including $900 million in secured mortgage debt on the two of its Las Vegas shopping centers due on Nov. 28 and $58 million of corporate debt due on Dec. 1. It also faces another $3.07 billion due next year, the company said on Monday in filing with the U.S. Securities and Exchange Commission. Although the company is working with its syndicate of lenders to extend the Nov. 28 deadline for the mortgages on the Las Vegas malls -- Fashion Show and The Shoppes at The Palazzo -- and is reviewing strategic alternatives to generate capital including asset sales and corporate capital infusions, it said it is facing an uphill battle given the constrained global capital markets. "Given the continued weakness of the retail and credit markets, there can be no assurance that we can obtain such extensions or refinance our existing debt or obtain the additional capital necessary to satisfy our short term cash needs on satisfactory terms," the real estate investment trust said in the filing. "In the event that we are unable to extend or refinance our debt or obtain additional capital on a timely basis and on acceptable terms, we will be required to take further steps to acquire the funds necessary to satisfy our short term cash needs, including seeking legal protection from our creditors." "Our potential inability to address our 2008 or 2009 debt maturities in a satisfactory fashion raises substantial doubts as to our ability to continue as a going concern." If General Growth fails to refinance or extend the $900 million of property secured debt, it could trigger a default under its senior credit facility and its $1.75 billion secured portfolio facility it secured in July, it said. The failure to refinance or extend the $58 million of corporate debt would also trigger an event of default under its secured portfolio facility and some of its bonds, the company said in the filing. Although the company has three of its Las Vegas malls up for sale, the sagging U.S. economic and spending pullback by consumers may lead to a rise in tenant bankruptcies and that could "reduce the value of our properties, reducing the likelihood that we would be able to sell such properties, on attractive terms or at all," it said. Shares of General Growth on Monday closed down 34 percent at $1.37. About a year ago, the stock sold for as high as $51.24. (Reporting by Ilaina Jonas; Editing by Kazunori Takada) ilaina.jonas@reuters.com 1-646-223-6193)