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Casino
May 12, 2020
Eldorado CEO Says Merger on Track, Caesars Plans Reopening
Eldorado Resorts CEO Tom Reeg has expressed optimism about the pending merger between Caesars Entertainment Corp. and his company. Reeg commented that the $17.3 billion deal should be finalized by the end of June, as planned when the first was announced in 2019. The statement came during Eldorado’s earnings call on Monday, May 11, with […]
Casino
April 26, 2020
Caesars Entertainment Sets up Employee Assistance Program
Apart from paying employees through June 30, 2020 and covering medical benefits, Caesars will now set up an assistance program funded by executives and offering assistance to the hardest hit employees. Caesars Announces an Employees Assistance Program Caesars Entertainment Corp. has announced a new COVID-19 relief program designed to assist furloughed employees. The employee assistance […]
Casino
April 25, 2020
Twin River Acquires New Properties, Pending On Eldorado Caesars Merger Completion
Property divesting related to the ongoing merger between Eldorado Resorts and Caesars Entertainment continues, as the Reno-based operator announced Friday it entered into a definitive agreement with Twin River Holdings. New Acquisition in Nevada and Louisiana Eldorado agreed to sell the Eldorado Shreveport Resort and Casino in Shreveport, Louisiana, and the MontBleu Resort Casino & […]
Casino
April 9, 2020
Eldorado Resorts Paid For a Month, Now Furloughs Employees
Eldorado Resorts was among the few that committed to continue to pay to its workers for a full month during the casinos closure. That month is about to expire Friday and the Reno-based casino operator is expected to follow the example of most of its industry competitors, Boyd Gaming being the latest, and place most […]
Casino
April 3, 2020
Caesars Will Furlough 90%, LVS Will Pay 100% for 2 Months
Caesars Entertainment announced Thursday the closure of their land-based gaming facilities in the US would affect 90% of its staff, employees who would remain employed but placed on furlough for an indefinite period of time. Trim Wage Costs The casino and hospitality operator that has nearly 64,000 employees on a payroll explained it would move […]
Legal
April 2, 2020
Caesars Agreed To £13M Regulatory Settlement For Systemic Failures
The UK Gambling Commission has announced that Caesars Entertainment accepted to pay a mammoth £13 million penalty for systemic failings with regards to social responsibility, money laundering and customer interaction. Three senior members of management have also lost their Personal Management Licenses /PML/ due to the failures that happened between 2016 and 2018. Putting Customer […]
Business
March 28, 2020
Eldorado, Caesars Deal Faces Difficulties with Regulators
The coronavirus has put a crimp on the casino gambling industry’s hopes in the United States. Nevada has shut down all its casinos, and nationwide, there isn’t a single gambling establishment still open. Workers have been furloughed and the precariousness grows every day. A silver lining has been the fact that the Senate has voted […]
Casino
March 27, 2020
Eldorado Faces $2.3M Per Day Ticking Fees For Missing The Deadline
Recently, the American Gaming Association announced all commercial casinos in the US have temporarily closed, in response to the coordinated effort to stop the coronavirus /Covid-19/ infection from spreading further by cutting its transmission from one person to another. Tribal casinos were following suit, leaving the whole casino industry in a standstill, and raising some […]
Legal
February 29, 2020
Maryland Becomes The Next State To Approve Eldorado-Caesars Merger
Eldorado Resorts continue to get state regulators’ approvals, with Maryland being the latest to signal the green light for the mega-merger deal with Caesars Entertainment to go ahead. Another State’s Approval The $17.3 billion merger deal between Eldorado Resorts and Caesars Entertainment that is expected to create the largest casino operator in the U.S. is […]
Business
February 26, 2020
Caesars Entertainment Posted $1.2B Net Loss In Fiscal 2019 Year
Caesars Entertainment Corporation reported today results from the fourth quarter of 2019, as well as results for the full fiscal 2019 year ending June 30, and despite an increase in net revenues, the net result of $1.2 billion loss marks a significant drop in profitability for the largest casino operator in Nevada. Q4 Up But […]