Las Vegas, Gaming and Profits!... Business as usual?

The Tropicana Entertainment LLC subsidiary of Tropicana Casinos & Resorts said late on Monday that it filed for protection from creditors under Chapter 11 of federal bankruptcy law.

Tropicana casinos in Atlantic City and Las Vegas has filed for Chapter 11 bankruptcy protection, nearly five months after New Jersey regulators stripped the Tropicana Casino and Resort of its license.

A slowing national economy made gamblers more cautious about parting with their money, and real estate values plummeted as well. Then credit markets tightened, leaving Tropicana Entertainment "very little margin for error,"

Margin for errors?... This Tropicana casino bankruptcy shows that behind all the glitter and glamor, are cut throat businessmen who have no problem clipping gamblers playing at slot machines programmed with low payout random number generators, but these businessmen are reluctant to pay off their own debts when they lose their business gamble.

Business as usual?...

By contrast, the Trump casinos in Atlantic City, as well as the Aladdin and the Stratosphere in Las Vegas, filed bankruptcy for reasons many other businesses do - because they lost money.

I came accross an unnamed employee confession: read>>> Las Vegas Sun

" By 5pm Monday Management held meeting with employee's of its "2 Southern Nevada" properties informing them of the Bankruptcy before it became public. Telling everyone NOT to discuss it with anyone because its business as usual.You'd still get your raises and promotions etc.etc. But "We may have to cut people back to 4 days !" Well thats not business as usual and if an employee is cut back to less then 32 hrs a week they'll cancel their insurance without notice! So their Business as usual is the worst joke for all those poor souls who work for this Slave labor company."

When the Gambling industry, in Vegas, is sneezing the entire local economy catches the cold!... It's like we did not have enough with the downturn of our local housing market...

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