Word: casino
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That's why investors believe in the unusual tax structure. How else to explain Starwood's unnatural premium in the market? Its shares trade at 64 times recent earnings--nearly triple the multiple of hotel and casino giant ITT. Starwood is growing faster. That helps. But the tax setup accounts for a good bit of the premium, and that's critical, because if the setup is ever struck down or found to be of little value, some of the premium would evaporate. Just what is this magical tax structure? Starwood is a Real Estate Investment Trust that owns hotels...
Sharon Willman was what the folks who run the local riverboat casino called a good customer. She played often, and she bet big. She lost many thousands of dollars. So when she stopped cruising on the Station Casino riverboat off St. Charles, Mo., the folks were naturally concerned. They sent her lots of nice invitations to parties and get-togethers to try to get her back. They kept at it. They even sent her a personal invitation to an exclusive "cocktail party" at the casino, where she and other "big winners'" would "become part of the action" in the shooting...
That may seem like an innocent enough come-on. But the unfortunate fact is that Willman, 53, is a compulsive gambler who lost so much money at Station Casino that to protect herself, she arranged to be legally barred from entering the riverboat and taken off its mailing lists. In spite of these efforts, the casino continues to send her a steady stream of solicitations--even though it is now exhorting her to commit an act of criminal trespass. "The mailings just keep on coming," she says. She was told by the management of Station Casino that its computerized database...
Next stop is Las Vegas. Nevada recently granted BET a gaming license. With Hilton as a partner, Johnson plans to open a $200 million SoundStage Hotel and Casino. Hilton will run the operations while BET enlists top black entertainment. There are also MSBET, the company's Website venture with Microsoft; a line of clothing launched in February; and a BET Visa card. Johnson may even try to market home mortgages under the BET brand...
...first-year residents of Weld Room 11 felt they could work well together from their first day at Harvard. Edward S.Baker, Scott G.Farber, Jacob E. Fleming, Arthur E.Koski-Karell, Matthew S. O'Hare and Joshua J. Wilske even converted one room of their suite into a casino in lieu of living in singles...