Stupak times were totally different,he would have gone banrkrupt in a month if he’d ever tried some of his gimmicks in today’s market…

Amen. Bob was really one of a kind. He used to say because he was Polish, he lost money on every transaction–but made it up on volume.

A few of you folks take hyperbole way too seriously.

But I enjoyed the mathematical analysis of hyperbole.

But, that strategy also means that the national sales team for the hotel group will be selling the location as a option for meeting planners. That can be huge for a hotel like this one.

Finally, aligning with a hotel group means access to corporate business travels from large corporations. Most large companies direct their employees to one hotel group in order to maximize discounts (which are based on volume). Becoming a Marriott/Hilton/IHG-branded hotel would help get heads in the beds.

100yrs?? Armageddon will be here way before that

$1 billion value in 100 years is an appreciation rate of about 3.4%, not much better than inflation or putting your money in the bank. A bankruptcy sale like this, when he is paying well below the construction cost, could well return 50% or better. I agree the play probably depends on Resorts world etc. Once people are staying in it and booking meetings again, which will probably be in just a couple of years, it could well be worth at least the original investment of $98 million. If not, it will probably be a budget alternative to its neighbors like SLS and Stratosphere.

My thought exactly,will the new owner be interested in having a gaming license? The way I see it this place will be a parasite hotel for resorts world,pretty much like the holiday inn boardwalk was. By then they may be interested in becoming a slot joint too..

Not sure how much hotel/conference demand there is at the site, but if it can make a buck or two annually, and it’s gaming ready for the day when the north strip fills in, about 100 years from now, then that $36M investment is going to be worth $1 billion.