{"id":16039,"date":"2015-05-12T10:05:49","date_gmt":"2015-05-12T18:05:49","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=16039"},"modified":"2021-09-12T08:21:42","modified_gmt":"2021-09-12T16:21:42","slug":"more-trouble-for-caesars-slot-routes-corrode-casino-revenues","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/more-trouble-for-caesars-slot-routes-corrode-casino-revenues\/","title":{"rendered":"More trouble for Caesars; Slot routes corrode casino revenues"},"content":{"rendered":"

Caesars Entertainment<\/strong> will soon have a new unsecured creditor — Uncle Sam<\/strong>. The company is trying to negotiate a settlement<\/a> with the\u00a0Financial Crimes Enforcement \"caesars-palace-02\"<\/a>Network<\/strong>. The tab for making things right with The Man could run to $20 million<\/a> and Caesars isn’t out of the woods yet: a federal grand jury probe into the company continues. However, “Uncle,” as he’s referred to in The Friends of Eddie Coyle<\/em>, might be lucky to collect a dime of that $12 million-$20 million. As the newest\u00a0unsecured creditor, the Treasury Department<\/strong> takes a spot at the back of the long line of people trying to get blood from the turnip that is Caesars. Clark County<\/strong> finds itself in a similar pickle, stuck with the bill for burying unsightly power lines and improving our view of Caesars Palace<\/strong> and The Cromwell<\/strong>.<\/p>\n

\"The-LINQ-Hotel-&-Casino_Elev-Lobby\"<\/a>Speaking of Caesars, if The Linq<\/strong> is the company’s idea of a middle-class product, it will have to do better. I’ve spent the night\u00a0there recently and the room could have been charitably called “spartan.” I’ve stayed in nicer rooms in Primm<\/strong>, for Pete’s sake. There are a couple of fine amenities on-property, particularly the cocktail lounge but, overall, for the bargain-hunter this is no bargain. The Linq smacks of a job done on the quick and I couldn’t in good conscience recommend it to anyone.<\/p>\n

* Although it is no longer a Caesars-owned property, Horseshoe Cleveland<\/strong> set a benchmark for the company by recycling 90% of its waste, the most of any casino in Gary Loveman<\/strong>‘s empire. So three cheers for that. Hard to believe, but it’s already three years that Horseshoe Cleveland has been up and running, and here’s a tally of some of its other achievements in its nascent years.<\/p>\n

* Slot routes in Illinois<\/strong> aren’t just a problem for Illinois casinos. A new Rubin Brown<\/strong> study faults them for two consecutive years of declining revenue<\/a> at Missouri<\/strong> casinos as well.<\/p>\n

* Racinos acquired in its takeover of MTR Gaming<\/strong> are proving to be a drag on Eldorado Resorts<\/strong>‘ balance sheets. Presque Isle Downs<\/strong> and Mountaineer Casino, Racetrack & Resort<\/strong> were blamed for a 3% decline in first-quarter revenues, although CEO Gary Carano<\/strong> said the company was making “good progress.” (Is there any other kind?) Although Presque Isle recently petitioned Pennsylvania<\/strong> to be allowed to reduce its slot inventory, Eldorado isn’t giving up on the place, promising $5 million in upgrades. As for one of its star performers, Scioto Downs<\/strong>, it will be the beneficiary of a $6 million, new microbrewery<\/a>.\u00a0Eldorado execs projected an improved second quarter, citing cost efficiencies as the spur.<\/p>\n","protected":false},"excerpt":{"rendered":"

Caesars Entertainment will soon have a new unsecured creditor — Uncle Sam. The company is trying to negotiate a settlement with the\u00a0Financial Crimes Enforcement Network. The tab for making things right with The Man could run to $20 million and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,117,7,58,39,71,95,111,25,92,9,139],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16039"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=16039"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16039\/revisions"}],"predecessor-version":[{"id":30050,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16039\/revisions\/30050"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=16039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=16039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=16039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}