Prospector
Profile
07.1217
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| 155 East Tropicana LLC |
NAICS |
721120 |
| 115 East Tropicana Avenue
Las Vegas, NV 89109 |
Description |
Restaurants |
| (702) 597-6076 |
Employees |
1037 |
| http://www.sanremolasvegas.com/ |
Revenue |
(mil) |
72.1500 |
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Income |
(mil) |
-18.4400 |
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Assets |
(mil) |
145.5900 |
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Liability |
(mil) |
144.4800 |
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(for the year ended 2006-12-31) |
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Category:
Low Rating
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Event:
Standard & Poor's Ratings Services lowered its corporate credit rating on 115 East Tropicana LLC to 'CCC' from 'B-'. The rating remains on CreditWatch with developing implications. "The rating downgrade follows a continuation of weak operating results and our concern that the company will be challenged to meet its obligations if the acquisition by Hedwigs Las Vegas Top Tier LLC fails to close," S&P credit analyst Guido DeAscanis said.
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Intellectual Property:
The Company has an exclusive license to use the Hooters brand from Hooters of America in connection with gaming, casino or combined hotel, gaming and casino operations solely at the Hooters Casino Hotel property. Pursuant to a consent from Las Vegas Wings, Inc., the Company has the right to use the Hooters restaurant concept at the hotel casino. The Company has an exclusive license to use certain intellectual property to operate and promote restaurants, taverns, lounges and bars using the marks “Dan Marino’s Fine Food & Spirits” and “‘13’ Martini Bar,” which is operated in conjunction with Dan Marino’s Fine Food & Spirits, at the hotel casino. Pete & Shorty’s, Inc. has also granted the Company a non-exclusive, royalty-free license to use the Pete & Shorty’s mark in connection with a restaurant, bar and lounge at the Hooters Casino Hotel. [SEC Filing 10-K 04-02-07]
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Description:
The Company operates Hôtel San Rémo, now known as Hooters Casino Hotel. Its common membership interests are held two-thirds through Florida Hooters LLC and one-third through EW Common LLC.
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Officers:
Neil G. Kiefer (CEO); Michael J. Hessling (COO & Dir.); Deborah J. Pierce (CFO); John T. Blakely (Dir.); Gilbert DiGiannantonio (Dir.); Edward C. Droste (Dir.); Sukeaki Izumi (Dir.); Toyoroku Izumi (Dir.); Dennis D. Johnson (Dir.); David L. Lageschulte (Dir.); William R. Ranieri (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
8-3/4% senior secured notes due 2012
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Notes:
There is no public trading market for the company's common stock.
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