Aladdin Resport and Casino files for bankruptcy

[Never Caught Up]

I subscribe to a gambling rag out of Vegas called Gaming Today and I just opened the envelope of the one I received today and on the front page is a story of the Aladdin Resort and Casino filing for bankruptcy. They will remain open while they reorganize, but they have already laid off 500 employees.

I remember when the Stratosphere filed bankruptcy the service went to crap, comps became difficult to get and even the attitude of the workers became disdainful and unpleasent.

Jack, you might want to reconsider the Aladdin for the location of the Superbowl party considering all the unknowns now on the horizon. According to the story Aladdin execs are putting a positive spin on the bankruptcy stating that 41 million in loans are being made available by an overseas bank, but the reported debt is around 750 billion dollars.

 

[fletcher]

that has nothing to do with their service and how it will be,jeri my partner is the asst.dir of convention services and catering there.
this has been process for about a year,it was set up with lci for them to buy out sommers,but park place had bought a lot of the bonds at the start due to inside info of the plans of how the aladdin was going to sell in the first 2 years,now when the re-structure is done they will buy it and have that whole corner ov the strip.
aladdin is vey upscale and will stay that way,they run between 95 and 98 % occ.rate one of the highest on the strip and are in the tops on high end conventions.
the casino is where they did a poor job,not the service of the resort.they had the money but when the sell didnot go as planned by sommers he quit making the payments for his personal intrest,belive me aladdin has plenty of money and willnot go down hill or shut doors.
the stratosphere isnot and never was in the same line of resort as the aladdin,that would be like saying motel 6 is like the hilton.
whats going on at the aladdin is strickly a planned strategic positioning by a corp. in intrest to gain the most from a sale,nothing what so ever has to do with service or will it ever.

[This message has been edited by fletcher (edited 10-05-2001).]

 

[Never Caught Up]

Thanks, fletcher. I have only been there once since the rebuild and spent most of the day in the "huge" Desert Passage. I couldn't agree more about it being in a different class.

There were two articles in Gaming Today and one indicated Terror Tuesday triggered the filing, but the other indicated more what you just outlined. The thing that caught my eye was the amount of debt . . . 750 billion dollars. I don't think the airlines are that deep in debt. I would hate to think how much just the interest on that kind of debt is.

Thanks for the local side of the story.

Now . . . with that said . . . can you put me in touch with someone who can at least get me reservations and casino rates there for Super Bowl weekend.

 

[fletcher]

i will call you in about an hour.

 

[MadJack]

you don't 'have' to stay at the aladdin but i probably will. i used to stay at the old aladdin too. i guess i like the location and the service has always been good to me.

i'll be letting everybody know where the party is going to be as soon as i know. we're looking into a few places. i'm sure jeri will treat us very good is why i am looking into the aladdin for the party.

 

[Never Caught Up]

After what fletcher said I think it sounds great. My first thoughts just took me back a few years to what happened at the Strat when they filed bankruptcy and they got pretty cheesy for awhile. Like Fletcher said . . . whole different class.

Only bad thing about staying there is that my wife will spend the whole weekend in the Desert Passage and she never leaves home without it. (AX)

 

[MadJack]

Only bad thing about staying there is that my wife will spend the whole weekend in the Desert Passage and she never leaves home without it.

that's right! I forgot about that place and i will be bringing my wife too. she'll spend the whole time there for sure. lmao!

 

[AzRusty]

What is the desert package?

Fletcher

I checked on line for availability for rooms at the Alladin and was unable to find any rooms. Does Jeri have an "in"?

I am looking for a nice room for about 150 a night. I may stay at the Sahara but really haven't decided what to do yet. Would prefer to stay where the action is.

When do you think most people will be arriving? I am considering coming up Friday and leaving Monday morning.

Thanks

AzRusty

Randy

 

[PJ Kray]

Altho it may not matter to you folks, I stayed at this place on wed-sun after the terrorist attacks and they were the most unappreciative hosts I've ever met. No comps, no cocktail waitresses, and no fun. Most of the other casinos were giving free rooms and meals just to get the play while we were all stuck in Vegas. I, for one, will NEVER go back.

 

[fletcher]

Sorry that you had a bad experience.
Our room rates went from 198 down to 89$ for the people staying with us. Also if that was a problem we worked with them and gave out meal vouchers. No-one was left out in the cold or went hungry.
As for people giving out free rooms you are misinformed. No-one gave out rooms on the strip,other resorts cut back rates as we did or wrote the rooms off and extended credit to those in need.
Respectfully
Jeri

[This message has been edited by fletcher (edited 10-09-2001).]

[This message has been edited by fletcher (edited 10-09-2001).]