Anthony Rodio‘s multi-million-dollar revamp of Bacchanal Buffet may well have been for naught. On yesterday’s earnings call the Tom Reeg administration floated the idea of closing all buffets at Caesars Entertainment properties. Expect comps to be sweated until they bleed and to get fewer promotions. Reeg promised that, too. Reported 8 News Now, “Caesars says it has learned lessons that some of its competitors seem to want to ignore. Some things may never return, because in an uncertain future, resorts cannot afford any part of a business that doesn’t turn a profit.” Increases in convention business were described as strong (six months out), including a number of new customers. Caesars is still operating at semi-skeletal levels, with 42% of the workforce idled and three Strip resorts dark. $14.7 billion in debt is offset by $7 billion in liquidity, so Caesars can eke out this pandemic a good while longer.
I’m a PredictIt gambler, degenerate perhaps, but I make money betting against stuff like “Will Hillary be convicted of being a pedophile before Labor Day”