View Full Version : Caesars and Eldorado
Penguin
06-10-2019, 05:03 PM
Looks like things may be coming to a head. Here are a couple of links.
https://sites.google.com/site/sevenstarsinsider/latest-news-about-caesars-entertainment
https://www.casinonewsdaily.com/2019/03/18/casino-giants-caesars-and-eldorado-in-early-merger-talks/
One thing for sure. Carl Ichan will come out ahead. Eldorado will be the managing company. Obviously some properties will be sold to appease state gambling commissions. Deal in principle done by end of June? Then off to the races to see how all the properties shake out and then any effect on loyalty programs. Not sure Eldorado has a company wide program like most of the competitors do.
I really cannot see how things will get any better for us slotters. Hope they stay the same and adapt the TR program.
Darrell
sondor
06-10-2019, 08:40 PM
They are just going a a single card Program the One Club...Hopefully if the deal goes thru they take Total Rewards as their program seems more geared to locals...Just got an email today that my play last month at the isle earned me a free Buffet Fri-Mon every day...and $15 food comp the rest of the week...What good does that do me 3hr away. When I was reading about Harrahs they always talk about their card program and customer base being one of the things suitors are after...Hope it works out for the best that is one of the reasons we are taking the Tahoe offer this year as if they get sold who knows what happens.
I guess all we can do is sit back and hope for the best when the dust settles. I have read that the TR program is the most valuable thing within the company, so they would be crazy not to utilize it.
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Looks more and more like this will happen.
I actually think it might be a good thing overall. My biggest issue with CET was former CEO Gary Loveman adopting the "set the slots to the lowest paybacks in the market" philosophy. A new owner may make some changes in that, at least hopefully.
I'm sure Caesars Rewards will be kept, Eldorado hasn't rolled out their program still to their other acquisitions like the Tropicana properties, etc. When Penn Gaming bought the Ameristar casinos they decided to drop their own program- Marquee Rewards for Ameristar's My Choice being they thought it was a better program overall. I see the same thing happening here.
clemi
06-11-2019, 12:50 AM
Vital Vegas suggested PH may be sold off to another gaming company... all rumor at this point.
Penguin
06-17-2019, 04:58 PM
El Dorado just announced it sold 3 properties to Century Casinos and VICI. Mountaineer in WV, Isle Cape Girardeau, and Lady Luck Caruthersville. Century will get operating assets and VIVI owns the real estate. VICI is the Caesars Reit. El Dorado gets $385 million. It's started. Wonder where that money goes??????
treyster
06-18-2019, 01:32 AM
From nypost regarding stock price and the debt involved.
https://nypost.com/2019/06/17/caesars-board-at-odds-with-billionaire-carl-icahn-over-sale-price-sources/
ozzynog
06-24-2019, 01:02 PM
Just read it’s a done deal. Is this a good thing?
Penguin
06-24-2019, 02:07 PM
Here is some information.
https://www.nj.com/news/2019/06/eldorado-buys-caesars-in-17b-mega-casino-deal.html
Penguin
06-24-2019, 02:30 PM
From "RandomSlots" on another forum there is a post and in it Tony Rodio is quoted as saying the Caesars Reward Program will be integrated into the new company. A positive step for us.
Who's this VICI group? Will they become a non Caesars property? If so, bummer losing Laughlin and NOLA.
Who's this VICI group? Will they become a non Caesars property? If so, bummer losing Laughlin and NOLA.What they are doing is selling the properties to VICI, and then turn around and establish leases for them and continue running them as casinos. This will give them cash on hand. A lot of companies do this. You won't notice anything different.
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foamy
06-24-2019, 08:39 PM
What they are doing is selling ths properties to VICI, and then turn around and establish leases for them and continue running them as casinos. This will give them cash on hand. A lot of companies do this. You won't notice anything different.
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Our John Deere dealer sold all his property and leases it back.
What they are doing is selling the properties to VICI, and then turn around and establish leases for them and continue running them as casinos. This will give them cash on hand. A lot of companies do this. You won't notice anything different.
Sent from my SM-G955U using TapatalkGlad I could tell Jeff it's gonna be ok, lol. He loves Laughlin. Thank you for explaining.
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Georgiagambler
06-25-2019, 12:12 AM
https://uploads.tapatalk-cdn.com/20190625/3ea339c0bc81d9e85be90f46f38ceca3.jpg
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ozzynog
06-25-2019, 12:26 AM
I just read my email. You are quick :)
Curlyd
06-25-2019, 01:49 AM
Yep got my email too!
Slotspert
07-15-2019, 04:57 PM
Vital Vegas suggested PH may be sold off to another gaming company... all rumor at this point.
El Dorado is destined to off-load some of those Caesars properties which may allow new competition to enter the marketplace. In Nevada, I can see El Dorado dumping: Rio, Harveys Tahoe, and Harrahs Reno.
treyster
07-15-2019, 05:15 PM
El Dorado is destined to off-load some of those Caesars properties which may allow new competition to enter the marketplace. In Nevada, I can see El Dorado dumping: Rio, Harveys Tahoe, and Harrahs Reno.
I don't know how you get rid of Rio, who's gonna buy a huge place like that when it costs more to operate than the revenue it can create? How do you make it appealing again?
I'm sure CET knows their debt represents a threat to their survival and they may be forced to unload some properties to pay it down, but doing so may create direct competition like in Tahoe and the Strip.
I think CET is just one recession away (and we're due for one in a few years) from being insolvent. They played some shell game and survived the last recession, it will interesting so see what happens going forward
Slotspert
07-15-2019, 05:33 PM
I don't know how you get rid of Rio, who's gonna buy a huge place like that when it costs more to operate than the revenue it can create? How do you make it appealing again?
I'm sure CET knows their debt represents a threat to their survival and they may be forced to unload some properties to pay it down, but doing so may create direct competition like in Tahoe and the Strip.
I think CET is just one recession away (and we're due for one in a few years) from being insolvent. They played some shell game and survived the last recession, it will interesting so see what happens going forward
Rio has turned into a undesirable lonely orphan. It used to be one of my favorites with the eateries, sand beach pools, parade in the sky (I was in that parade a few times!), modern, well maintained rooms, and nice casino (during the "Play Rio" days) . I see a timeshare operator grabbing it as they done with the Westgate.
The California NA have sucked the life out of the Lake Tahoe gaming market so it would be interesting to see what they do with that.
clemi
07-15-2019, 05:53 PM
El Dorado is destined to off-load some of those Caesars properties which may allow new competition to enter the marketplace. In Nevada, I can see El Dorado dumping: Rio, Harveys Tahoe, and Harrahs Reno.
I only wish the best for Harvey’s Lake Tahoe, they deserve better than the neglect CET has given them.
hytail
07-15-2019, 07:02 PM
Saw about a 10 minute interview last week with the Eldorado CEO discussing the outcome/future with some of the CET property acquisitions. I don't think he mentioned the customer experience during the entire interview. So my reflection was/is that the acquisition is not designed as part of a fix up or property refurb to enhance resale value for some future sale.
Curlyd
07-16-2019, 05:49 PM
Never mind
TwoArmedBandito
07-16-2019, 08:51 PM
Never mindLol
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Curlyd
07-16-2019, 09:46 PM
Lol
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My question was answered on FB and then I couldn't get my post to delete. :)
thebeachbum
08-20-2019, 11:38 AM
Well, you might want to read this from the Las Vegas Advisor QOD before getting too excited about El Dorado.
https://www.lasvegasadvisor.com/question/caesars-eldorado/
michelelovesvegas
09-16-2019, 02:45 PM
https://www.cdcgamingreports.com/eldorado-to-inherit-five-indian-casino-management-deals-in-17-3b-caesars-merger/?fbclid=IwAR3KjM5aYunE6HkH66Sr3_UKRAzBgrOYLGU_9n9v GocMYlsmWQ0g6ZLsAGE
Total Rewards is suddenly blessing me with every hotel in Vegas comp'd, including Nobu at Caesars (which has never been comp) for Thanksgiving week. Shine on the rewards!
charlie50
09-19-2019, 05:08 PM
Well, you might want to read this from the Las Vegas Advisor QOD before getting too excited about El Dorado.
https://www.lasvegasadvisor.com/question/caesars-eldorado/
If El Dorado cuts off too many benes to there existing customers they will drive business right over to m-life .
Penguin
09-19-2019, 08:32 PM
Or, MGM might just cut benes as competition in that regard is lessened. Remember MGM is on big cost reduction kick this year and next. Only thing I know is reduced competition is never good for the consumer.
They better not piss off the Cherokees. I have the need to push buttons once in a while. [emoji16]
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Cyndyga
09-19-2019, 11:50 PM
They better not piss off the Cherokees. I have the need to push buttons once in a while. [emoji16]
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The way I read it Cherokee was the #1 revenue producer of the Indian casinos so I think they will keep them happy... I guess we push alot of buttons hhh...
Caesars begins Las Vegas fire sale with US$516 million Rio deal, retains World Series of Poker (https://www.asgam.com/index.php/2019/09/23/caesars-begins-las-vegas-fire-sale-with-us516-million-rio-deal-retains-world-series-of-poker/)
Caesars Entertainment Corp has offloaded its first Las Vegas property since announcing its impending US$17.8 billion merger with Eldorado Resorts, revealing on Monday that it has sold the Rio All-Suite Hotel & Casino to a principal of real estate giant Imperial Companies for US$516.3 million.
Under the terms of the transaction, Caesars will continue to operate the Rio for at least another two years via a lease deal in which it will pay the buyer rent of US$45 million per year. The buyer also has an option to offer a third year at which time Caesars can continue to operate the property or provide transition services.
Notably, the sale does not include the World Series of Poker brand of which Caesars will retail full ownership, with the WSOP to return to the Rio once again in 2020.
“This deal allows Caesars Entertainment to focus our resources on strengthening our attractive portfolio of recently renovated Strip properties and is expected to result in incremental EBITDA at those properties,” Caesars CEO Tony Rodio.
“The retention of the World Series of Poker and retention of Caesars Rewards customers are all factors that make this a valuable transaction for Caesars.”
Has been tipped to offload a number of its Las Vegas properties in the wake of the Eldorado agreement, while the company also announced last month that it would not pursue a bid to develop an integrated resort in Japan.
treyster
09-23-2019, 12:54 PM
I'm shocked someone paid that much for the Rio. We were looking at it yesterday and I said they'd probably have to sell it for $1. I figured it was costing more to keep it open than the revenue they could generate.
You add in Resorts World is coming on line soon so there's more room dilution. Good luck to the buyer.
DK528
09-23-2019, 12:58 PM
I'm shocked someone paid that much for the Rio. We were looking at it yesterday and I said they'd probably have to sell it for $1. I figured it was costing more to keep it open than the revenue they could generate.
You add in Resorts World is coming on line soon so there's more room dilution. Good luck to the buyer.
I’ve heard a rumor that if Vegas gets an MLB team, the stadium may be built near the Rio site. So maybe that’s the reason for the high purchase price?
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treyster
09-23-2019, 01:38 PM
It would take something like that IMO.
goldengreeke
09-23-2019, 02:56 PM
Eldorado has owned the Isle of Capri/Lady Luck chain for well over a year now with no visible changes in their players club program.
Since their purchase of CET, the rumor on the street is that some of the under performing Isles and Lady Luck casinos might be renamed "Horseshoe" to get better name recognition and cash in on some of the huge fan base associated with the Horseshoe name. Which also means they with have to adopt the Caesars Players club program. Just a rumor for now, could be years away if true.
tee2green
09-23-2019, 03:06 PM
Eldorado has owned the Isle of Capri/Lady Luck chain for well over a year now with no visible changes in their players club program.
Since their purchase of CET, the rumor on the street is that some of the under performing Isles and Lady Luck casinos might be renamed "Horseshoe" to get better name recognition and cash in on some of the huge fan base associated with the Horseshoe name. Which also means they with have to adopt the Caesars Players club program. Just a rumor for now, could be years away if true.That would be great to have the Isle under CET rewards since it seems like you like going there the best as far as local casinos go.
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foamy
09-23-2019, 03:14 PM
Eldorado has owned the Isle of Capri/Lady Luck chain for well over a year now with no visible changes in their players club program.
Since their purchase of CET, the rumor on the street is that some of the under performing Isles and Lady Luck casinos might be renamed "Horseshoe" to get better name recognition and cash in on some of the huge fan base associated with the Horseshoe name. Which also means they with have to adopt the Caesars Players club program. Just a rumor for now, could be years away if true.
CET has the biggest players card program so I bet they will integrate them all into one.
Penguin
09-23-2019, 04:02 PM
I believe that is a stated goal for the new Caesars. All casinos under one program. Three Eldorado properties already sold. Announced just before the merger was announced. Just from a computer system standpoint I could se a couple of years to get the Caesars Reward system in total place. Looking forward to the Isle in Iowa.
charlie50
09-23-2019, 04:07 PM
Eldorado has owned the Isle of Capri/Lady Luck chain for well over a year now with no visible changes in their players club program.
Since their purchase of CET, the rumor on the street is that some of the under performing Isles and Lady Luck casinos might be renamed "Horseshoe" to get better name recognition and cash in on some of the huge fan base associated with the Horseshoe name. Which also means they with have to adopt the Caesars Players club program. Just a rumor for now, could be years away if true.
yup just checked again I O C in lake Charles is a El Dorado property . that would be cool if came under the Cesar's / El Dorado flag ship
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