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Video:
http://abcnews.go.com/Business/video/investors-cashing-caesars-entertainment-26842255

This may explain why Still The One is moving on. Too tired to elaborate, but if you're interested, check the video out. I will say that it is likely that Shania's next production may be more lo-fi due to a bad economy. These aren't the prosperous 1990's. Below is the transcript to the story.

I'm Michelle Franzen in New York as the financial markets close on Wall Street for Tuesday November 11. This is story stock. We hear the house but don't tell that to Caesars Entertainment the operator of Caesars palace Harris planet Hollywood casino and the Paris hotel.

All getting hit today as investors are cashing out of the stock after a disappointing earnings report. And here to explain why Caesars scraping out I'm joined by Steve Cortez of Veracruz LOC hi Steve. I'm Michelle thanks for having me well the casino business has hit a rough patch recently but it's really debt problems that are plaguing Caesars.

Give us the story about that. Yes you know you're very ride and I guess Caesars is seventeen hours the only mate has seen a player. That is losing money it makes money though on a data day basis as you alluded to it's problem is just.

Crippling debt there's an enormous debt load on this company in this this company in some ways is really almost a poster child for what can happen. To an otherwise healthy company when there's too much. Financial engineer Nikola solid company when you have too many private equity players hedge funds get involved and by the way there's also not just a massive debt there's also a massive litigation and lawsuits and because of that.

The stock has suffered its suffering today clearly Wall Street is not enthused at all about the results posted by Caesars and but a map for that matter it has suffered all year. In a year in which the stock market on the whole was done extremely well the S&P 500 at all time highs. Investors in Caesars.

Have not done well by the way they just this summer opened the largest. Ferris wheel in the world they called the high roller but sadly it's the investors in his company are the ones who have been taken for a ride so far a little bit high rolling for anatomy think that wasn't a very good news. You don't I don't know it was an expensive project but yet perhaps instead of gambling inside the casino to many folks are taking a ride on that massive Ferris wheel for the views of Las Vegas at night.

But also listen to I don't mean to pick too much just on caesar's. All of the major casino stocks are having a tough time. Caesars is in some ways we didn't have this big debt loan I would actually like it compared to its peers.

Because it tends to be much more American focus compared to France's. Wynn and Las Vegas Sands which have been very Asia focused that used to be an attribute for those companies it has been commie and a bit of a problem for those companies because gimme revenues in Macau and in China are slowing dramatically so Caesars is not alone. And turned the stock market Payne the whole gambling complex really has done quite poorly at least as far as casinos go this year and what worries me is I just don't know the consumers out there in the US they see their wages are quite stagnant as very tepid wage growth out there in the economy.

Gambling and this kind of travel is almost by definition. A discretionary item and I'm just not sure that there's enough growth out there. Given the labor market situation.

Too many people out of work or too many people with work who aren't satisfied with their their weight situation whether earnings I'm not sure that they have the money to spend. Frivolously. On things.

Like gambling. And food and entertainment at these places but it does look like consumers are coming back just a bit here and they love going to places like Vegas and perhaps Atlantic City just to let loose sometimes could this give those operators including Caesars. A little bit of a left.

You know in this and it could be I will say this to. Caesars tends off on the whole they're not necessarily as dependent. On sort of high roller gamblers as some other competitions.

And I think that defect to gas prices have come off very dramatically. Over the last few weeks and months that might encourage again I don't think received bonanza because I'm just too concerned about. The low wage growth for most Americans but I will concede that significantly lower gas prices might help.

Some of those folks and and look look I will say it has been against the American consumer for decades has been the wrong. Back to make it its instead we should almost all times bet on. The Americans consumer and and his or her pension.

To spend an American certainly do like they're gambling Gailey has exploded all over this country but that also by the way is another one of the problems is there's so much competition now. For gambling dollars it used to be couple decades ago you had to go on a plane to gamble so many people now are within close reach of a car Gammon I would say to go in terms of for investors on the stock at least it has done much better within the broader gambling world's not a casino but within that. That world is Churchill Downs the the horse company that stock has done wonderfully while sliding if you want to get exposure if you think the consumer is improving.

An American if you think those leisure dollars are going to increase. My advice should be to stay away from Las Vegas from the glitzy casinos and night and probably go with Fiat with we're grapple used to gamble which is the racetrack. That's stay close to home so give me an idea investors are speaking in sort of laying down their chip so to speak so how could Caesars.

Received this message and how could they maneuver. Right now good question you in some ways they they've got a tough situation here they did shake up management as one of things they announced. In this earnings call of the CFOs departing in the have a very young man.

Who apparently I don't know of him much but apparently is extremely impressive is going to take over. As CFO. But they have such a heavy debt load there's really no.

Easy solution here but I think that the good growth potential and the reason that Wall Street hasn't yet given up on this company despite the fact that it's losing money doesn't pay a dividend. And and again has enormous load of debt and the reason that that the reason for hope. I think among Wall Street analysts like chat with.

Is that they're doing some pretty neat things on line and online gambling and digital gambling particularly talk about young people. I don't build don't do things way I do things you know by emitted gamble I wanna see those chips I wanna see the dice and beautiful physical table would enjoy the noises about camaraderie in the drinks of all of that to go with it I'd done folks are very different and I Caesars has been an innovator as far as online gain mean and and I think we'll continue to be so that may be the way that Caesars can can. I pulled a rabbit out of a hat and and get profitable again all right Steve Cortez fake you very much for joining us.