JohnnyQ
JohnnyQ
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Thanks for this post from:
onenickelmiracle
May 19th, 2017 at 3:17:29 AM permalink
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.
All around me are familiar faces / Worn out places, worn out faces / Bright and early for their daily races / Going nowhere, going nowhere - https://www.youtube.com/watch?v=kdCLnwIkkps
Boz
Boz
Joined: Sep 22, 2011
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May 19th, 2017 at 6:56:35 AM permalink
Quote: JohnnyQ

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.



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.
rdw4potus
rdw4potus
Joined: Mar 11, 2010
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May 19th, 2017 at 9:06:06 AM permalink
Quote: Boz

Quote: JohnnyQ

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.



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?
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
MrV
MrV
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May 19th, 2017 at 9:10:23 AM permalink
In the spirit of Old Rome and Bacchus, I vote that CET install a world class vomitorium on the strip.
"What, me worry?"
MaxPen
MaxPen
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May 20th, 2017 at 12:13:33 AM permalink
Debt is Money
JohnnyQ
JohnnyQ
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May 20th, 2017 at 6:15:58 AM permalink
Quote: rdw4potus

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.
All around me are familiar faces / Worn out places, worn out faces / Bright and early for their daily races / Going nowhere, going nowhere - https://www.youtube.com/watch?v=kdCLnwIkkps
troopscott
troopscott
Joined: Apr 3, 2017
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May 20th, 2017 at 7:11:38 AM permalink
They need to build a seperate hotel casino kind of like Wynn and Encore. Then they could connect with with more Mall garbage and some restaurants.

Anything besides that they should just focus on quality food and a nightclub.

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