I think you are confused because management was referring to the debt level on just that credit line after the ISLE Blackhawk transaction - not total debt.
Obviously UWN is reducing it's total debt level and improving it's liquidity by selling Blackhawk for more than they are buying the boat for. If you want to get the total debt reduction just subtract the boat cost from the after tax proceeds from the Blackhawk sale (about $54.4 million). Other asset sales will reduce debt further. Does it really matter which debt is on the main credit line and which is on the new acquisition credit line? I think you're missing the big picture.
No panic it doesn't matter where it is ,that's my point it is all debt. The quote was " we will have 64 million in assets and 15.5 million in debt which nets out to 49 million of book value" after the sale, now do we add on the 35 million for the boat? if so your future quarter will have $1.5 million of ebitda minus corporate/legal/ interest on how much debt?
and when they said they are going to give people a reason to stop that means they are going to spend a ton of money and Ameristar doesn't back down
btw panic did you hear that idiot ask for a breakout of CC operations
I'll give the analyst who asked about the Cripple Creek numbers a pass. Some of these guys cover a lot of companies and don't really know them all that well. A company like UWN is in such a state of flux with asset sales and purchases that it's easy to lose track. The financials were out late Friday afternoon, so naturally we looked at them over the weekend. I guess some folks actually have a life (LOL).