They better not piss off the Cherokees. I have the need to push buttons once in a while.
Sent from my SM-G955U using Tapatalk
They better not piss off the Cherokees. I have the need to push buttons once in a while.
Sent from my SM-G955U using Tapatalk
Last edited by zeus; 09-19-2019 at 09:45 PM.
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...Originally Posted by zeus
They better not piss off the Cherokees. I have the need to push buttons once in a while.
Sent from my SM-G955U using Tapatalk
Caesars begins Las Vegas fire sale with US$516 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.
Karma Is Like 69 : You Get What You Give
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
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.
#######
Fair dinkum legend
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?
Sent from my iPhone using Tapatalk
It would take something like that IMO.
#######
Fair dinkum legend
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.
Last edited by goldengreeke; 09-23-2019 at 02:58 PM.
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.
Sent from my SM-G900V using Tapatalk
CET has the biggest players card program so I bet they will integrate them all into one.
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.
Posting Permissions
Reply With Quote
