SLS Las Vegas net loss reaches $48.6 million in second quarter
"In the SEC quarterly filing, Stockbridge/SBE said total revenue between April and June was $36.9 million". So expenses were $85.5 million for the 2nd quarter.
"Stockbridge said in the SEC filing it intends to provide SLS Las Vegas with "sufficient funds" through Dec. 31 to meet the property's obligations." What if it burns through another $100 million through the end of the year?
Expect a shutdown in January.
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UPDATE:
The Hard Rock Hotel & Casino Las Vegas is also hemorrhaging cash.
he company that owns the Hard Rock Hotel & Casino Las Vegas, Bref HR, has struggled for years, incurring losses for $103 million, $105.5 million and about $116 million for 2014, 2013 and 2015, respectively. There is substantial doubt about Bref's ability to continue as a going concern, or without the threat of liquidation, because of debt and losses says the company's accountant, Deloitte & Touche LLP, in an April 14 filing with the U.S. Securities and Exchange Commission.
http://www.themiddlemarket.com/news/restructurings/turnaround-tuesday-losses-mount-for-hard-rock-las-vegas-hotel-255697-1.html
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