America: Starting with the acquisition of MGM...

Chapter 15.15. Heading to Las Vegas

After leaving Citibank, Eric went on to work at Goldman Sachs and JPMorgan Chase.

The tactics are all the same: a huge sum of $11 billion—he doesn't believe the banks won't be tempted by this tempting offer.

If you're not tempted, are you even human? If you can't make money, are you still a capitalist?

Five days later, on Wednesday morning, the family was having breakfast when the Nokia slider phone on the table suddenly beeped.

When Charlie Cooper answered the phone, a smile immediately spread across his face.

"Eric, after breakfast, let's go to JPMorgan Chase."

Eric suddenly looked up: "So fast? I thought it would take at least half a month."

Harry Cooper laughed heartily: "Who doesn't like money? If they don't agree, we can switch to a few other banks. Right now, we're the real bargain."

Emily, the mother, looked at the father and son with a puzzled expression: "What are you talking about?"

"It's nothing, honey, it's all work-related."

"Really? But you look better and better. Has the movie issue been resolved?"

"No, but it doesn't matter anymore."

At JPMorgan Chase Bank, the conference room was quite full; representatives from all three banks were present.

After all, it's a $20 billion loan. Even if Eric has $11 billion in assets to back it up, the risk still exists. It's impossible for a single bank to take on this $20 billion.

However, high profits come with risks, and not lending is out of the question, so the three banks had to join forces to take this piece of the pie.

The person in charge of signing the contract was a woman who looked to be in her thirties. She had blonde hair, blue eyes, and a large bust. Apart from being a little short, she would be a pretty face in Hollywood.

However, seeing how reserved the three managers were in front of her, one could tell that this woman was definitely not simple.

"It's a pleasure to meet you both, Mr. Coopers. I'm Elena from JPMorgan Chase headquarters."

Elena extended her hand, and her father shook hands with her before sitting down. Eric, however, felt that the other woman deliberately squeezed him hard and gave him a strange smile.

"What does this woman mean? Is she flirting with me?" Eric thought to himself.

Elena, however, seemed oblivious to the incident, and sat smiling opposite the two.

"Mr. Cooper, I won't say anything more. After discussion, we have decided to lend you money: Citibank 32%, Goldman Sachs 33%, and JPMorgan Chase 35%."

"All the terms are clearly written in the contract; you can take a look first."

I handed the contract to my lawyer and studied it carefully. The lawyer pointed out the key points that needed attention, mainly three.

The first clause stipulates that the loan disbursement time will be determined based on the progress of the MGM acquisition. If there is no progress within 3 months, the three major banks have the right to directly recall the loan. If the progress is smooth, the loan will be extended according to the progress.

The second clause states that if the acquisition of MGM is successful, then MGM will automatically be converted into loan collateral.

The third condition is that if MGM continues to be poorly managed under the Cooper family after the acquisition, and the debt ratio exceeds 82%, the Cooper family will no longer be able to take on new debt, and MGM will be directly owned by the three major banks.

It's clear from the terms that the three major banks were eyeing MGM, a lucrative target. They believed that acquiring the company, with its fixed assets and land, would be worth $20 billion.

The two parties signed a contract, with Elena promising that the funds would arrive within a week.

"Mr. Cooper, this is my business card. Please feel free to contact me if you need anything." Elena handed over a small, elegant card.

"I will, ma'am."

After shaking hands with the beautiful mature woman, the Cooper father and son left JPMorgan Chase.

Just three days later, the money Elena promised arrived in her account, a full $20 billion.

On the same day the money arrived, the Coopers boarded a plane to Las Vegas, the gambling capital and headquarters of the MGM Grand Hotel.

My dad had already spoken to Kerkorian on the phone beforehand. The two have been colleagues for over a decade, so it wouldn't be difficult for them to meet.

After getting off the plane, people from the MGM Hotel were already waiting for them. The two got into a car and headed straight to headquarters.

On Las Vegas Avenue, a luxury Lincoln parked in front of the hotel steps, and a doorman immediately came over to open the car door.

"Eric, the ground we're standing on is MGM Plaza, the headquarters of my old boss."

Eric looked up and saw that it was indeed a very impressive and prestigious building, with a classic European feel.

Upon entering the hotel, you are greeted by a sculpture of a roaring lion with its mouth wide open in the lobby, just like the opening sequence of MGM.

A glance at the architectural plan revealed that this place was clearly a money pit that combined eating, drinking, and entertainment.

The built-in casino alone covers 17 square meters, the size of four football fields, and also includes an amusement park, cinema, restaurants, theater, bars, nightclubs, hospital, and more.

Spanning several dozen acres, it is more than just a hotel; it's more like a miniature city.

However, good products come with high prices. If you want to experience the full service here, don't even think about it without $10. Ordinary people can't afford it and usually just play slot machines in the lobby.

Upon reaching the top floor, Eric was led into a luxuriously decorated office by his young female secretary.

Upon seeing the two, an old man with a full head of white hair and a face full of wrinkles stood up from behind the table.

He is Kirk Kerkelion, a famous American casino tycoon. He is 85 years old this year, but he is in very good spirits and does not look like an old man of his age at all.

Because he rarely appears in the media, some people in China and even the world may have heard of his name, but far fewer people have actually seen his face.

If we were to draw a comparison, it would probably be media mogul Rupert Murdoch.

"Charlie Cooper, my old friend, you look younger and younger."

The father stepped forward and hugged Kerkelien, who then looked at Eric.

"Who is this handsome little guy? Introduce him to me."

Charlie Cooper laughed heartily: "My son Eric, an admirer of yours, insisted on coming along to meet you."

Eric stepped forward: "Hello sir, your hotel is an eye-opener for me, it's absolutely gorgeous."

Kerkorian immediately smiled: "Really? Then you can have some fun. Let Lisa accompany you to exchange chips and take a look around."

Eric glanced at his father, and Charlotte Cooper nodded, indicating that there was no problem.

Eric still trusted his father's abilities.

Of course, I'm not talking about his eye for movies, but his business acumen; otherwise, he wouldn't have been able to hold a senior management position for over a decade.

She was able to earn start-up capital through her foresight, but her father still had to take the lead in all subsequent negotiations, as he was more proficient in that area.

Since Kerkorian didn't want to get involved, there was no need to make him unpopular, so Eric simply followed the alluring secretary downstairs.

Don't try to "grow" books unnecessarily; they'll die if you don't read them regularly.

(End of this chapter)