...partially offset by unrealized losses associated with a decrease in probability of opening the casino project for the Jamul Indian Village due to issues associated with site access.That's the most pessimistic thing I've seen yet in their financial reports. The next step would be for them to write the whole investment down...
Thursday, November 6, 2008
Quote of the Day...
From the Lakes Entertainment announcment of 2008Q3 results (my emphasis):
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Oh, write downs are foretold. This might be 'death by a thousand cuts'.
ReplyDeleteAs per Laco's 10-Q for 3Q 2008:
"If the ensuing litigation is not resolved quickly, or if it is adversely decided, the further delays may cause us to reevaluate the project plans which could negatively impact the value of Lakes’ assets associated with this project."
- Mike Weber