Caesars Surrenders as Strike Date Approaches

Just one day before workers across Las Vegas are set to walk off the job, Caesars Entertainment has reached an agreement with the Union. The deal was struck after a “historic” 20 hours negotiation session between the two sides, although details have not been made public. This does not mean that a Las Vegas strike has been averted, as there has been no announcement of an agreement reached between Union representatives and the other two operators involved. Talks with MGM Resorts and Wynn Resorts continue, but the deadline for the work stoppage is now less than 24 hours away. Union…

Caesars Sports Betting Profitable Next Year

While the company has been hemorrhaging cash for several years, Caesars sports betting is now expected to be generating a profit for the company by the fall of 2023. This according to their CEO, Tom Reeg . In a story reported on Yahoo! Finance, Caesars online gaming and sports betting lost over $550 million in just the first quarter of this year. But according to Reeg, the company has a plan. First up, they will cut their marketing spend, saving over $250 million. The second step in the recovery process is for Caesars to narrowly target their more “profitable customers”…

Caesars to Sell a Casino on Las Vegas Strip

We’ve reported on the big changes coming to the Las Vegas Strip over the past few weeks, and now you can add another name to that list of casinos. We just don’t know what that will be yet. The Chief Executive Officer of Caesars Entertainment, Tom Reeg, recently confirmed that the company is looking to move one of their casinos on Las Vegas Boulevard, but he did not reveal which property that would be. During the company’s Earnings Call last week, Reeg stated Caesars expects to sell a Las Vegas Strip casino, and that they had launched that process earlier…

Caesars Still Plans Sale of a Strip Property Soon

Caesars Entertainment has confirmed that they are still planning to sell one of their properties on the Las Vegas Strip… they’re just not is a rush to do it. Especially while the pandemic is still hurting the economy. With Coronavirus still lurking in the shadows, a Caesars executive said that they will wait to sell any resort until the market rebounds after the pandemic. There had been rumors of the San Manuel Band of Mission Indians could be a suitor. However, they just completed a purchase of the Las Vegas Palms for $650 million. Caesars CEO Tom Reeg said that…

Several Las Vegas Casinos Still Closed

The vaccine has been rolling out and recovery is underway. But despite the good news, many Las Vegas casinos are still dark. Thirteen, to be exact. And while some properties are waiting for restrictions to lessen, others have closed their doors forever. Some of the more popular properties on the “still closed” list include Main Street Station, Eldorado, Texas Station, and The Palms. It has already been announced that Main Street Station will reopen, but the question is when. The best answer is ‘when it’s profitable’, and that means when tourism returns. The Eldorado Casino is gone forever… sort of….

Rio Casino Open Before New Years Eve

The last Caesars property to reopen after the pandemic has finally answered a critical question: Will the Rio Casino open anytime soon? And the answer is a happy “yes”! And you may be able to ring in the New Year there if you book soon! The Rio All-Suite Hotel & Casino now says they will open their doors before the end of the year. You may remember that Caesars sold the Rio to a New York real estate company, but Caesars continues to manage the resort for at least two more years. Caesars CEO Tom Reeg also added that (despite…