Caesars Entertainment‘s long Chapter 11 nightmare is finally at an end. Regulators in Missouri and Louisiana have signed off on
a reorganization that will leave Caesars creditors $10 billion lighter in the wallet. The consummation of the deal is a triumph of tenacity on Caesars’ part and removes an enormous cloud that was hanging over the company’s efforts to move forward. CEO Mark Frissora is now free to purse new opportunities. As for Chairman of the Board Gary Loveman, he promised to step down when the company emerged from bankruptcy. Is he going to make good on his promise or is that just more of his empty bloviation?
* In case you were wondering, yes Virginia, MGM Resorts International is extending its “Welcome to the Show” campaign to include Borgata. We presume that National Harbor will be next, followed by Beau Rivage, though we don’t know if MGM will bother with half-owned (with Hyatt Gaming) Grand Victoria in Elgin, red-headed stepchild of the MGM family.
* Station Casinos-managed Graton Rancheria is truly snake-bitten. Earlier this month, its management system went down, leaving patrons to wait at least four hours for slot payouts. Some simply gave up and went home. (One player walked away from a $101.50 jackpot.) “Although it may have taken more time than usual for the payout, we were pleased that we were able to institute a manual payout,” Station spokeswoman Lori Nelson said at the time.
Now it’s been disclosed that some patrons’ Social Security numbers were leaked over a six-month period (much to the delight of identity thieves, we suppose), although this time the
casino’s technology was not at fault. In response, Graton Rancheria is offering a free year of credit monitoring to victimized patrons. “It’s important to note this was not a data breach or a hack. It was human error that we have now taken the necessary steps to prevent from occurring again,” said Nelson. She added, “We place the integrity, safety and trust of our relationships with our guests at Graton Resort and Casino as our top priority.” That being the case, Station should conduct a thorough revamp of its operations at Graton, which seem to be unusually error-prone and in need of revision.
