{"id":27077,"date":"2020-05-15T08:28:09","date_gmt":"2020-05-15T16:28:09","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=27077"},"modified":"2020-05-15T08:28:09","modified_gmt":"2020-05-15T16:28:09","slug":"cosmo-to-hard-rock-caesars-dwarfs-eldorado","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/cosmo-to-hard-rock-caesars-dwarfs-eldorado\/","title":{"rendered":"Cosmo to Hard Rock?; Caesars dwarfs Eldorado"},"content":{"rendered":"

VitalVegas<\/em> is a veritable font of Las Vegas Strip<\/strong> scuttlebutt. Among its recent rumor-chases was the tantalizing hint that Planet Hollywood<\/strong> was going to go smoke-free. (Official word from Caesars Entertainment<\/strong>: “Untrue<\/a>.” End of story.) Also, author Scott Roeben<\/strong> is hot on the trail of potential Hard \"\"Rock International<\/strong> acquisitions in Las Vegas<\/strong> (nobody, it seems, thinks HRI is going to build from scratch). He has The Cosmopolitan of Las Vegas<\/strong> as the frontrunner, due to previous discussions between Blackstone Group<\/strong> and the Seminole Tribe<\/strong>, which could be back “on” again<\/a>. However, Roeben also throws in The Cromwell<\/strong> (too small for Hard Rock, we think), Bally’s Las Vegas<\/strong> (for the underlying real estate) and The Mirage<\/strong> into the mix, and we agree on the Tropicana Las Vegas<\/strong> and Planet Ho as candidates for purchase. In a Strip that’s getting a bit stale, the consequence of a duopoly, the Seminoles would bring a proven track record of creating excitement and some fresh thinking.<\/p>\n

As for the ruthless termination of Rampart Casino<\/strong> employees, Roeben hears that the workforce could go from 1,700 to 200<\/a>. Worse, if possible, the casino may not reopen until October. That’s a lot of misery to go around. Like us, Roeben is a little skeptical<\/a> of how this restaurants-in-casinos reopening is going to work from a practical standpoint … but I’m sure we’ll both be following it with interest.<\/p>\n

* The pandemic shutdown hit Caesars Entertainment pretty evenly across the spectrum. Net revenue at Las Vegas<\/strong> casinos was $822 million (-14%), $874 million at regional casinos (-13.5%) and $132 million at managed and international operations (-12%). Prospective buyer Eldorado Resorts<\/strong> had a more inconsistent run of luck. Southern casinos tumbled 27% to $97 million, “Central” ones slipped to $100 million while Midwest properties slid 16% to $61 million. In the west, Eldorado’s $105.5 million was a 11% dip and out east its net revenues of $108 million were a 15.5% decline. Total gross was $422 million, puny compared to Caesars’ haul.<\/p>\n

* Here’s a ray of hope for Nevada<\/strong>. Initial claims for unemployment have declined for two straight weeks. May 9’s 21,635 is a 24% drop-off from the previous week’s 28,550, for a grand total of 462,396 initial claims filed in 2020. That’s a lot of misery but is there cause to hope that the worst is behind us?<\/p>\n","protected":false},"excerpt":{"rendered":"

VitalVegas is a veritable font of Las Vegas Strip scuttlebutt. Among its recent rumor-chases was the tantalizing hint that Planet Hollywood was going to go smoke-free. (Official word from Caesars Entertainment: “Untrue.” End of story.) Also, author Scott Roeben is … 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":[244,66,18,14,199,165,245,207,69,6,254,200],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/27077"}],"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=27077"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/27077\/revisions"}],"predecessor-version":[{"id":27081,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/27077\/revisions\/27081"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=27077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=27077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=27077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}