From Defcon 17 Wrap-up: The Riv near bankruptcy

[charliex]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Binion's is shutting down their Hotel on Dec 14th, so if thats where you stay at dc, time to start looking. Casino part remains open though.

[RuckusKnight]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Is there even anyplace on the strip that has the space and will take us in?

I was under the impression most of the hotels on the strip wanted nothing to do with Defcon?

[TheCotMan]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Bankruptcy does not mean a business will stop doing business. There are different kinds of bankruptcy which range from reorganization, to protection from creditors for other reasons, and even total liquidation of assets to pay pennies on the dollar, split across all creditors (which is a bankruptcy that is used when a business is often closed.)

In the case of the Riviera and Bankruptcy, they are using it to stay in business while holding off the creditors. While protected, they will see where they can cut costs, and what they can do to get cash positive, so they can pay off debts, and maybe borrow more money.

If you know of a location in Las Vegas that can provide us the floor space for a convention, and be reasonable about costs, and be willing to host Defcon, please provide suggestions. I believe that we are working on the assumption that the Riv will still be in business and renting out rooms when Defcon arrives Next year, even if they are still in bankruptcy.

[Club81]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

I'm not sure of the exact convention spaces on the Strip (we GOTTA be on the Strip!! :-)), but somebody mentioned MGM Grand.

I also have no clue as to the politics that DT has to wrangle to get somebody to host DEFCON.

I also realize that it's probably too close to DEFCON18 to move it. But a guy can dream, can't he!?!?

[Thorn]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

...

I also realize that it's probably too close to DEFCON18 to move it. ...

Hell, it's probably too close to DC20 to move. Planning and contracts for conventions spaces tend to have a loooong timeline.

[blakdayz]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

When you say good..would it be good in that you

a.> Had a threesome
b.> Found a new/backup Hotel for Defcon
c.> Won a bunch of money
d.> All of the above.

While (d) would be a great option, I hope (b) is the correct answer.

Anyway, We all know DT will post it when it gets settled... maybe close the thread?

[TheCotMan]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

While (d) would be a great option, I hope (b) is the correct answer.

Anyway, We all know DT will post it when it gets settled... maybe close the thread?

Dates and location for Defcon 18 were posted more than 1 month ago on the main site, and they have not changed. Until there is an update that says otherwise, a wise person would plan for Defcon 18 with the information that has been provided, not information that hasn't been provided.

DT announced dates and location at the close of Defcon 17. The main web site states this:

DEF CON 18 will happen July 29th - August 1, 2010!

There has been no announcement (from DT) to contradict what has previously been stated.

[Rewt Daemon]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Dates and location for Defcon 18 were posted more than 1 month ago on the main site, and they have not changed.

Haven't you heard? Defcon 18 has been cancelled... :surprised

In all seriousness though, given the closeness to Defcon 20 (as mentioned earlier in this thread) I personally hope that the Riv stays in bankruptcy, near bankruptcy or any other status that allows Defcon to be "cancelled" for many years to come.

[erehwon]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Something to ponder, if you have a little xmas mad money to play with...

MGM Option Traders Bet Casino Operator Stock Doubles

Dec. 28 (Bloomberg) -- Options traders are doubling down on MGM Mirage, betting a new 67-acre (27 hectares) complex of gaming tables, hotels, condominiums and stores will restore the casino operator’s profits.

Investors buying contracts to purchase MGM for twice its current stock price through January 2011 helped drive the number of bullish options on the shares to 1.5 times the level of bearish ones, the highest ratio since June 2008, according to data compiled by Bloomberg. Existing January 2011 $20 calls increased 12-fold last week as the shares fell to $9.50.

“It’s an aggressive play,” said Frederic Ruffy, the senior options strategist at WhatsTrading.com, the New York- based provider of options-market analysis. “They’re looking for a substantial move higher.”


Now when this article came out, Riviera Holding was trading at around .32 a share and now is trading at 0.438 a share, so savvy hacker/traders might want to buy some options on the Riviera out to January 2011. To ride the expected turnaround of the economy, but also with some of the new found fame of the Riv thanks to 'The Hangover'

Now I am not a financial advisor, but I did stay in a Holiday Inn Express last night, Your mileage may vary, and objects in the mirror are closer than they appear.

[bluknight]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Hell, it's probably too close to DC20 to move. Planning and contracts for conventions spaces tend to have a loooong timeline.

A thought here -- DC18 (the year we get legal!) will be the fifth year at the Riv. Assuming that the contract DT signed was a nice round number, and the fact that the Riv has been faltering for... quite some time now... One would think that he's already got a new venue lined up for DC19, or has nailed the Riv's balls to the wall to get them to straighten up, or else risk losing what may arguably be their biggest annual intake of revenue.

Of course, the fact that RVHL hasn't filed for Chapter 11 yet is probably a signficant miracle, either. One wonders who or what is bleeding cash into the organization to keep it that way.

Edit to add: Please note that I don't have any inside information, and this is all rampant speculation on my part. However, it does make sense inside my warped and tiny little mind.

[big chopper]

Riviera should operate normally during bankruptcy

Riviera should operate normally during bankruptcy

They filed Chapter 11 on July 12.

http://www.lasvegassun.com/news/2010...eorganization/

Don't let this scare you. The airline you fly to get to Vegas was (or is) in bankruptcy too.

--BC,

[theprez98]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

So what you're saying is that DEFCON really is canceled. :-)

[hackajar]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

11 != 7

Does this mean contracts can be renegotiated for all future years?

[astcell]

Re: From Defcon 17 Wrap-up: The Riv near bankruptcy

Can we use the defcon profits to buy our own hotel? How about the AP?

[bascule]

Defcon is cancelled: Riviera files for Chapter 11

http://www.lasvegassun.com/news/2010...eorganization/

The Riviera is bankrupt! Defcon is cancelled!

[Edit: Oh look at me Mr. Redudnant Johnny-Come-Lately. OLD!!!]