{"id":24389,"date":"2019-06-27T06:44:36","date_gmt":"2019-06-27T14:44:36","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=24389"},"modified":"2024-02-08T05:20:56","modified_gmt":"2024-02-08T13:20:56","slug":"caesars-buyers-remorse-cubbies-want-to-lay-some-action","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/caesars-buyers-remorse-cubbies-want-to-lay-some-action\/","title":{"rendered":"Caesars: Buyers remorse; Cubbies want to lay some action"},"content":{"rendered":"

In a move that will surprise no one, Caesars Entertainment<\/strong> is reportedly ready to put Bally’s Atlantic City<\/strong> on the auction block and\u2014failing that\u2014to close it outright. It dodged a bullet when Revel<\/strong> opened (and closed) but luck \"\"might not be with the old lady this time. “Observers believe Caesars has not committed adequate resources to Bally\u2019s and allowed the property to become outdated and unappealing to would-be guests,” reports the New York Post<\/em>, alluding to a lead-poisoning scandal in 2016.\u00a0Some on Wall Street<\/strong> think Eldorado Resorts<\/strong> may have been taken to the cleaners with its winning bid of $12.75\/share. As Nomura Securities<\/strong> analyst Harry Curtis put it, could Eldorado find enough costs to cut? Sanford C. Bernstein<\/strong> boffins were comparably skeptical, writing that\u00a0\u201cwhile Eldorado has been successful in rolling up gaming assets across the U.S., this acquisition of a whale operator is at a completely different level.\u201d Carl Icahn<\/strong> is enthused about the deal … as well he should be. CZR stock is trading 51% above when he bought into the company. Will he cash out now?<\/p>\n

\"\"Have been left on the outside of the Caesars deal, looking in, Tilman Fertitta<\/strong> is positioning himself to pick up the leftovers of the merger. The Houston Chronicle<\/em> talked to the peppery mogul, who said, “I’ll try to pick off one or two properties.” Planet Hollywood<\/strong> is mooted as a possible Fertitta target but he’s going to have to get past Boyd Gaming<\/strong> and Phil Ruffin<\/strong>, according to casino pundit Howard Stutz<\/strong>.<\/p>\n

* As though it weren’t hard enough to score a Chicago Cubs<\/strong> ticket, the team wants to add a sports book<\/a> within the friendly confines of Wrigley Field<\/strong>. This is in direct contravention of MLB<\/strong> policy (and the Cubbies would have to shell out $10 million for an operating license) but the league may re-think its position, especially as teams like the Cubs affiliate with such sports-betting providers as The Action Network<\/strong>. In addition, sports betting is proving a boon for the hotel industry as well.<\/p>\n

* Better (two years) late than never, Rush Street Gaming<\/strong> is belatedly adding a hotel<\/a> to Rivers Casino Pittsburgh<\/strong>. CEO Greg Carlin<\/strong> said the time for The \"\"Landing Hotel Pittsburgh<\/strong> was right: \u201cStatewide gaming expansion changed our schedule, but never our intentions. Rush Street always envisioned a hotel for Rivers to create a full-service destination on the North Shore.\u201d Rush Street pondered a satellite casino but ultimately decided to set itself apart by investing the money in a hotel. As General Manger Bill Keena<\/strong> put it, \u201cWe\u2019re trying to reposition ourselves from a casino to a regional destination casino.\u201d<\/p>\n

* The fix is in for the next chief executive of Macao<\/strong>. Lawmaker Ho Iat Seng<\/strong> threw his hat in the ring<\/a>, with the backing of China<\/strong>‘s central government. \u201cI will move to optimize people\u2019s livelihoods and diversified development,” said Seng, singing from the Beijing<\/strong> hymnal. Since Seng would have oversight of concession renewal, gaming companies in Macao will want to butter up to him.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a move that will surprise no one, Caesars Entertainment is reportedly ready to put Bally’s Atlantic City on the auction block and\u2014failing that\u2014to close it outright. It dodged a bullet when Revel opened (and closed) but luck might not … 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":[23,113,60,244,82,199,58,62,95,119,33,242,243,129,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24389"}],"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=24389"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24389\/revisions"}],"predecessor-version":[{"id":33037,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24389\/revisions\/33037"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=24389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=24389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=24389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}