Hooters Casino Hotel may Close its Doors | april 6, 2010

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There's some bad news for those who enjoy going to the Hooters Casino Hotel which is located in Las Vegas. The owner has said that the Hooters Casino Hotel may soon have to close its doors or find other options. The Hooters Casino Hotel has been suffering financially and there is a fear that it may not be able to recover in time. This is bad news for many people that enjoy spending time there, as well as for the owner. The company has stated that it has experience recurring operating losses and accumulated deficit. This is more than likely due to the current state of the economy. Many companies and businesses have been forced to shut their doors due to not being able to make a profit, and then alone keep up with expenses.

Hooters Casino Hotel has been struggling for awhile

The company has been having a difficult time for awhile now. The casino hotel said in a report which was made out to the Securities and Exchange Commission that it was unable to give any assurance it would be making any profits, get forbearance, or maintain its current financing. The company had also missed making its interest payments in both April and October of 2009. The company has also gone through its credit lines and is down to relying solely on cash flow in order to cover its expenses.

Going downhill

Hooters Casino Hotel lost more than 3 and a half million dollars in the last quarter of last year. It seems that the casino hotel may have no other option available. It would appear as if they have stretched about as far as it can and now something is going to have to give. However, this is not good news for anyone. The Casino Hotel does have a lot of customers who are going to be upset, but they just aren't enough to keep the company's head above the water. The company may be looking at other options and there are customers who are hoping they find a way to get through this rough time and stay afloat.