Controversy Surrounds the Demolition of a Mississippi Casino

A bitter courtroom battle in Chicago is affecting places as diverse as Nevada and Mississippi. In January, Caesars Entertainment Operating Company, Inc., the largest operator of casinos in the United States, filed for bankruptcy protection. Its parent company reportedly is not bankrupt. It is embroiled in a heated legal battle with creditors.

Two private equity firms control the parent company. TPG Capital Management LLC and Apollo Global Management, LLC conducted a leveraged buyout of $30.8 billion to obtain Harrah’s Entertainment in 2008. The operating company currently seeks to rid itself of nearly $18 billion in debt through the reorganization under Chapter 11 underway in Chicago.

This week, Anastasia Date reports that Caesar’s obtained permission to demolish one of three resort properties it owns in Tunica County, Mississippi. The facility was originally opened as Grand Casino Tunica in 1996 and was a part of Harrah’s. When Caesar’s closed Harrah’s in June, some 1,000 employees lost their jobs at that particular casino. The operating company has not yet filed for a demolition permit, but reportedly hopes to tear down the structure and salvage the contents.

Caesar’s seventh largest creditor, the Yazoo-Mississippi Delta Levee Board, had vigorously opposed the demolition plan, contending that Caesar’s had not taken enough steps to sell Harrah’s. The Board alleged that the company did not want the casino remaining in operation in other hands, because it would compete with its two nearby Tunica resort properties.

Investment Bankers Stake Their Claim in Art and Real Estate as the New Gold

Laurence D. Fink, the CEO for the major investment firm, BlackRock, stated at a recent conference with investors that gold has lost its luster for some investors and that these investors are now turning to contemporary art and real estate as safer harbors for their liquidity. One of the problems that the wealthy face consistently is where to place liquid assets. Banks are not safe places as the amounts on deposit at the bank is not protected against a collapse in the economic market and any reserves just sitting on deposit will also be subject to degradation by inflation. Art and real estate on the other hand are safer investments since these assets constantly adjust for inflation regardless how long the assets are held by the owner. These assets can also be passed down to heirs with much less tax consequences to the theirs as oppose to cash. Investors Turn Away From Gold and Towards Art and Real Estate

While gold is still a good investment product, it is cumbersome to store and unlike art and real estate, the owner cannot easily exercise control over large amounts of gold. Additionally, not everyone has their own vault and while gold owners have the option of simply placing their gold in a professional vault, many do not feel secure with simply carrying a receipt as ownership of their assets.

Christian Broda understands that Real Estate is a a fixed asset as there is very little opportunity to create new real estate. Additionally, art has been positioned to be a new currency as many pieces in recent years have been sold for amounts in excess of $5 Million Dollars.

Houses Growing in Value

Facebook  said that the investments in bricks and mortar have grown, as many have started to notice how the houses’ prices keep only growing. Those who are now older compare the possibilities they had a while ago and pity the young people.

An apartment in Crouch End, North London, could be bought with £32,750 in 1985. Nowadays, the same place that is older and maybe not even looking as great as those years has a price of £660,000. Of course, the economical changes have their share in this huge difference, but not only. The elderly describe their possibilities to buy good houses at their choice, deciding whether the place was close enough to their workplaces. Nowadays, the younger families have to either choose space and remote location or close proximity to work but no yard. Many factors have influenced this change, as the population growth and infrastructure development have their influences.

The writer of the article who compared the houses’ prices now and then is only left with the question why we don’t build more. Besides that, he finally agrees with the advice someone gave him when he was young- to invest in brick and mortar.

Find Your Next Home Within New York City Real Estate

New York City is a place that’s full of hustle and bustle, and it’s a great place to live. Many people want to move to New York City, or they want to move around New York City, but they’re not certain where to start looking. If you have a great realtor, you can find some of the newly constructed places to move to, and some of them are and architectural dream. There are many locations available, for those looking to move, and you can begin your search, by hiring a realtor from Town Real Estate. Once you get your realtor, you can begin your journey.

It takes time to find a great apartment, or any other type of dwelling you’re looking for. If you have a great realtor, such as the ones at Town Real Estate, you will have some assistance in finding a great place to live, and it will be less stressful for you. The realtors that work for Town Real Estate, are some of the best in the city, and they get some of the best listings as well. New buildings that are being created, as well as newly built homes, apartments, condos and more, list with Town Real Estate.

Since Town Real Estate has some premier listings, you’ll be able to find the perfect place in New York City, and you’ll be able to find it with a lot less worry. If you have taken up the paper, or a magazine that shows real estate listings, you’ll never get the same experience, as you would, if you hired a realtor. You want someone who knows about the places you’re interested in, and they can give you a historical rundown on each area, as well as show you a nice place, which may be of interest to you.

Shopping for a new place to live is never easy, no matter where you live, but the key is to have the right person helping you shop around. If you get a great realtor, you’ll be able to pick from prime pieces of real estate, and you may find yourself in your new home, quicker than you thought possible. Although New York City can be difficult to navigate, especially when it comes to finding NYC real estate, your Town Real Estate realtor, can help you find the right place. Find more on there website by clicking here, and  choose a Town Real Estate realtor today.