Search
Friday Aug 8 2008
All times are London time
All times are London time
The 6am cut - Alphaville by email
Most Popular Posts
- Further Reading
- Further Reading
- The credit crunch, crunched: Authers and Murphy on a screen near you
- Further Reading
- Pink Picks
- Icahn: Well, maybe I can't -- at least, not on my own....
- Snap News
- Pink Picks
- Pink Picks
- Snap News
- Show more...
- Show less...
Blogs we're reading
- 1440 Wall Street
- Abnormal Returns
- Alea
- All About Alpha
- Arbitrage View
- Bespoke Investment Group
- Big Picture
- Brad Setser: Follow the money
- Calculated Risk
- Capital Chronicle
- Capitalist Resistance
- Crossing Wall Street
- Deal Journal
- Dealbook
- Dealbreaker
- Deus Ex Macchiato
- Felix Salmon
- Financial Armageddon
- Financial Crookery
- Fintag
- Free Exchange
- Infectious Greed
- Information Arbritrage
- Intelligent Mergers
- Interactive Investor
- Jeff Matthews
- Marketbeat
- Naked Capitalism
- Naked Shorts
- Nouriel Roubini
- Practical Risk Management
- Random Roger
- Reuters DealZone
- Robert Peston
- Short Stories
- Sudden Debt
- The Aleph blog
- The Epicurean Dealmaker
- The Oil Drum
- The price of everything
- Ultimi Barbarorum
- Wallstrip
Classified Jobs
- Divisional Financial Controller
- Recruiter: TRL
- Corporate Finance Controller / Corporate Finance Analyst
- Recruiter: Travelodge
- Acquisitions Analyst / Corporate Finance Analyst
- Recruiter: Travelodge
- Process & Control Development Manager
- Recruiter: Norwich Union
- Head of Project Finance
- Recruiter: Global Investment Bank
- Associate Director, Project Finance
- Recruiter: Global Investment Bank
- Collateral Frameworks and Registries Senior Advisor
- Recruiter: FIAS, The World Bank Group
- Group Finance Manager
- Recruiter: Marks & Spencer
Site Navigation
Principal content
aig barclays BSNL carlyle china citi cvc fortis fortress friends provident jc flowers Lombard Lonmin M&G merrill lynch Moodys Ping An Insurance sprint nextel ubs xstrata
The bust after the boom
The party’s over. So appropriately enough the default of the owner of the Tropicana casino in Las Vegas brought global defaults to 28 this year, affecting debt worth $18.4bn. That’s against 22 defaults in the whole of 2007, on debt worth $8.1bn.
All bar one of this year’s sick list are from the US - and the Tropicana has ample company in a heavy roll call of leisure and gaming companies.
S&P comments:
Mounting defaults in 2008 come as hardly surprising, overdue if anything…..The pace of U.S. defaults through the first five months of the year is the fastest since 2003.
The report gave Ambrose Evans-Pritchard of the Telegraph “a fright.” Every cloud…
Here’s the full list:
Related links
Bankrupticies and defaults gather pace - FT.com
- Advertise with the FT
- Press enquiries
- Student offers
- FT Conferences
- FT Research Centre
- Corporate subscriptions
- FT Group
- Partner sites: Chinese FT.com
- Les Echos
- FT Deutschland
- Expansion
- © Copyright The Financial Times Ltd 2007. "FT" and "Financial Times" are trademarks of The Financial Times Ltd. Privacy policy
- Terms
Sorry 3 - legends gaming is a casino operator too. Interesting - particularly in relation to Gala Coral here in the UK
Interesting - a lot of debt in Tropicana. I thought traditional wisdom was that casinos and gambling were fairly recession resilient but there are at least 2 casino businesses on this list. Quite a few publishers too.