From the LA Times this morning:: "
Since 2015, Tesla has boosted its bottom line by selling tax credits to casinos such as the MGM Grand.
The casinos use the credits, purchased at a discount, to lower the gambling taxes they pay the state. Tesla uses the proceeds to ease its losses or increase its profit. Musk told investors on June 5 that “it’s looking like” the company will be profitable later this year.
So far, Tesla has sold $131 million in credits to casinos and has booked a total of $163 million in anticipation of more sales soon."
It seems to me that this is a smart business strategy.. Does anyone else have an opinion?
The link to the article is here: http://www.latimes.com/business/autos/la-fi-hy-tesla-nevada-casino-credits-20180624-story.html
The article may be behind a pay wall for those who do not subscribe to the LA Times.
Since 2015, Tesla has boosted its bottom line by selling tax credits to casinos such as the MGM Grand.
The casinos use the credits, purchased at a discount, to lower the gambling taxes they pay the state. Tesla uses the proceeds to ease its losses or increase its profit. Musk told investors on June 5 that “it’s looking like” the company will be profitable later this year.
So far, Tesla has sold $131 million in credits to casinos and has booked a total of $163 million in anticipation of more sales soon."
It seems to me that this is a smart business strategy.. Does anyone else have an opinion?
The link to the article is here: http://www.latimes.com/business/autos/la-fi-hy-tesla-nevada-casino-credits-20180624-story.html
The article may be behind a pay wall for those who do not subscribe to the LA Times.