Caesars Entertainment is not having a week that is good being hit with numerous crises; any resemblance of Nero here to company CEO Gary Loveman is solely coincidental.
Then Caesars Entertainment Corp. is doing just fantastically well if the old adage that bad publicity is better than no publicity holds true. By other measures, however: maybe not so much.
As if being forced for PR reasons to cut ties with its Las Vegas Strip hotel that is new casino project partner Gansevoort and bailing from a $1 billion Boston-area casino project with racetrack Suffolk Downs weren’t sufficient, the casino giant is now reportedly the topic of federal inquiry into potential violations of the Bank Secrecy Act at Caesars Palace, their flagship Las Vegas property. Then add a strange and random shooting outside of Drai’s at Caesars-owned Bally’s in Las vegas, nevada, a tragedy that left one patron dead who had been trying to tackle the gunman, also two security guards wounded. And lastly, a baby that is newborn body apparently found behind Planet Hollywood on the Strip in the same week might have made it seem like the Apocalypse had landed in Caesars’ yard ahead of schedule.
Problem After Problem for Caesars
Of course, the company’s industry-high $23.5 billion long-term debtload is maybe not even news anymore; it’s just become a huge yoke that Caesars now carries around wherever it goes these days. The real question is, w Continue reading “Hit With Crisis After Crisis, Caesars Struggles to even keep an Keel”