In the News: Caesars Plans New Las Vegas Developments After Bankruptcy Exit
https://www.bloomberg.com/news/articles/2017-05-18/caesars-plans-new-las-vegas-developments-after-bankruptcy-exit
Caesars Entertainment Corp. Chief Executive Officer Mark Frissora wants to develop more than 90 acres the company owns in Las Vegas, including land right in front of Caesars Palace, after its largest unit emerges from bankruptcy later this year.
“We have a lot of real estate that’s underutilized,” Frissora said in an interview with Bloomberg TV Thursday. “We have plans to basically develop all of that very valuable center-strip property as soon as we emerge. Those assets will have a very high-return, low-risk profile.”
Caesars, the largest owner of casinos in the U.S., has struggled under a mountain of debt since a $30 billion leveraged buyout in 2008. In January of 2015, the company put its largest division, Caesars Entertainment Operating Co., into bankruptcy. It’s expected to exit in the third quarter.
Quote: JohnnyQCaesars Plans New Las Vegas Developments After Bankruptcy Exit
https://www.bloomberg.com/news/articles/2017-05-18/caesars-plans-new-las-vegas-developments-after-bankruptcy-exit
Caesars Entertainment Corp. Chief Executive Officer Mark Frissora wants to develop more than 90 acres the company owns in Las Vegas, including land right in front of Caesars Palace, after its largest unit emerges from bankruptcy later this year.
“We have a lot of real estate that’s underutilized,” Frissora said in an interview with Bloomberg TV Thursday. “We have plans to basically develop all of that very valuable center-strip property as soon as we emerge. Those assets will have a very high-return, low-risk profile.”
Caesars, the largest owner of casinos in the U.S., has struggled under a mountain of debt since a $30 billion leveraged buyout in 2008. In January of 2015, the company put its largest division, Caesars Entertainment Operating Co., into bankruptcy. It’s expected to exit in the third quarter.
That has always been wasted space other than the few large boxing matches they had there 20 years ago. Of course so was the space in front of Bally's and they found a way to make it worse WITH development.
Quote: BozQuote: JohnnyQCaesars Plans New Las Vegas Developments After Bankruptcy Exit
https://www.bloomberg.com/news/articles/2017-05-18/caesars-plans-new-las-vegas-developments-after-bankruptcy-exit
Caesars Entertainment Corp. Chief Executive Officer Mark Frissora wants to develop more than 90 acres the company owns in Las Vegas, including land right in front of Caesars Palace, after its largest unit emerges from bankruptcy later this year.
“We have a lot of real estate that’s underutilized,” Frissora said in an interview with Bloomberg TV Thursday. “We have plans to basically develop all of that very valuable center-strip property as soon as we emerge. Those assets will have a very high-return, low-risk profile.”
Caesars, the largest owner of casinos in the U.S., has struggled under a mountain of debt since a $30 billion leveraged buyout in 2008. In January of 2015, the company put its largest division, Caesars Entertainment Operating Co., into bankruptcy. It’s expected to exit in the third quarter.
That has always been wasted space other than the few large boxing matches they had there 20 years ago. Of course so was the space in front of Bally's and they found a way to make it worse WITH development.
That seems to happen a lot in Vegas. The facade of Caesar's IS Caesar's. Block it with a mall (another mall, really, I guess) and I have even less reason to want to be there and not at another property. Alternatively, maybe we can get them to do something really stupid with this space. MGM thought a rollercoaster would improve NYNY - maybe Caesar's needs a giant water park? or a petting zoo? Laser tag?
Oh sure, arming pets with lasers sounds like all fun and games until someone gets hurt.Quote: rdw4potusAlternatively, maybe we can get them to do something really stupid with this space. MGM thought a rollercoaster would improve NYNY - maybe Caesar's needs a giant water park? or a petting zoo? Laser tag?
Anything besides that they should just focus on quality food and a nightclub.
