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I’m as excited about my own future as the future of poker itself and while I’m changing seats, I’ll be staying at the table.
I’ve got chips in the game after all.
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“Our hope is that in the next few months there will be a window of opportunity where the market will be hotter and [it’s] a more interest rate friendly environment where we can go raise the money and then just put it in an escrow account,” Scheinthal said at the time.
That window Scheinthal had hoped for seems to be moving further away. Caesars’ proxy filing showed that even during negotiations in the spring, Fertitta refused to go above its $31-per-share offer “due to higher financing costs and increased macroeconomic risks”. From the end of 2025 to late April of this year, higher borrowing costs had resulted in “approximately $40 million per year in additional costs from when the process started”, the filing said.
Diller, for his part, lodged an all-cash, $48.30-per-share offer for MGM days after the Caesars deal broke. People Inc. finished Q2 with $1.1 billion in cash, but between the 74% of shares it would acquire, as well as MGM’s long-term debt of over $6 billion, some level of financing would be required. MGM appointed an independent committee to review the bid but has said nothing since.
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Aqueduct staged its final races June 28, ending a 132-year history at the Queens track. It remained open for simulcast wagering until September 7 before closing permanently.
The new Belmont is significantly different than the sprawling venue it replaced. The former 1.25 million-square-foot grandstand, which had become vastly oversized for the contemporary racing crowd, was demolished to make way for a much smaller, modern facility with a focus on hospitality and premium seating.
Friday’s opening was deliberately capped at 6,000 spectators while construction continues. Only the first two levels of the new five-story grandstand are currently open, with the remaining sections scheduled for completion ahead of next year’s meet.