Genting (Resort World) Stops Paying Creditors — Stock Drops 33%

It’s been a few days. The Jedi have been preparing for our move to Panamá. We launched two new websites: www.chelseypanama.com and www.jediinpanama.com.  Be sure to subscribe to our YouTube channels to follow to the adventures. 

In order to find out what’s really happening in Vegas, you have to ask people on the street. ​Genting Malaysia 🇲🇾, announced they will STOP paying creditors. Word off the street is Genting needs to sell off assets, like Resort World, or file chapter 11.

So why is Resort World boasting today about 6,000 jobs that aren’t posted until 2021? That’s right. It’s a distraction while they continue to spend OPM on a project located in a ghost town,  

The Jedi are leaving Las Vegas on September 30, 2020. Follow, subscribe and join the Jedi to learn about life, business in Latin America after the shut down.

Vegas News is a Scam—Just Like Vegas 

To get real news outta Las Vegas, you must follow the local bloggers. In 2015, Sheldon Adelson, owner of the Venetian Casino, secretly purchased Las Vegas’ only newspaper in order to avoid a wrongful death lawsuit. He used the papers’ reporters to dig up dirt on the judge overseeing his trial. Guess what? Case was dismissed. 

Then he used the paper to conveniently convince the people to allow football stadium to be paid for by tourists a hotel tax of nearly $1 billion. This tax burden is what prompted former MGM Resorts International CEO Jim Murren to sell off Bellagio, Mandalay Bay, to Jon Gray from  Blackstone. Jim Murren resigned in February, before the announcement of the shutdown.

It gets worse. According to the Review Journal, Genting, Resort World’s parent company, is going to have to sell off assets or sell the entire company. Yesterday, Resort World stock price dropped 33% on news they will need to sell off some or all of their assets.