IP gets a reprieve

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The Rio will ultimately go is my guess, but given the multiple that was paid for the company and the undeveloped land on the site, it's not like it'll be a fire sale. They'll want at least the same multiple as their implied purchase price plus some sort of absurd per/acre price for their 25 or so undeveloped acres on the site. That's just a big price and it'll likely take some time to find a buyer.

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1st - great post.

2nd - my understanding is that the Rio owns the property facing the highway, which is currently all the buz for future casino development. Your theory sounds very logical.