Eldorado Resorts clinches $18 bln cash and stock deal for Caesars

https://finance.yahoo.com/news/1-eldorado-resorts-clinches-18-201702443.html

From the article;

Quote:

The deal, which is expected to be announced on Monday, values Caesars at close to $13 a share, according to the sources. The combined company's ownership would be split roughly between Eldorado and Caesars shareholders, the sources said.

Can anyone speculate what this will do to cet rewards and comps? How is Eldorado, I dont believe I have ever been to one.

Icahn must have just made a boatload of money in the 90 days or howver long it was since we bought up shares.

Quote: GWAE

Can anyone speculate what this will do to cet rewards and comps? How is Eldorado, I dont believe I have ever been to one.

Icahn must have just made a boatload of money in the 90 days or howver long it was since we bought up shares.

This is the question I was hoping to get an answer for. I am Diamond at Caesars, but only gold at some of the Tropicana properties. Not that it is a huge factor, but the perks for a Black from Tropicana is a lot better than the Gold, so am wondering how they will possibly combine or keep them separated until next year

I can only relate from personal experience.

When I played at Harvey's Tahoe, before Harrah's bought them, I was madman level at Harvey's, I had this solid metal player card given to their top 50 players. At this same time I was Harrah's diamond from across the street, Harrah's Tahoe. When Harrah's Ent. bought Harvey's in 2001, my player card at Harvey's became Harrah's Diamond; my credit line remained the same. For a period of time they maintained two different looking player cards, one said Harvey's Total Diamond, the other Harrah's Total Diamond, and I had two different player numbers, then eventually I had only one, the Harrah's number (now Caesar's Ent.).

I also know of a couple of top (not as high as I was, but still up there) Harvey's players who had "problems" at Harrah's, some sort of property ban. For them, when Harrah's bought Harvey's, the ban was extended to Harvey's, and they were right out at both properties.

Same/similar happened when Harrah's bought the Rio in 1999, friends I knew who were at Rio then became Harrah's players, and whatever level they had at Rio translated to their new Harrah's player card. And if they had issues with Harrah's, whatever issues, then they were booted from Rio too as Harrah's was incoming.

When MGM bought the Wynn properties in 2000, nothing much happened - I didn't get an "M Life" card until a while later, at least a few years later as I recall, I just kept the same account number and my cards looked exactly the same. By the time the player club at Bellagio became M Life, I had pretty much stopped playing there.

Your question is, which player card will take priority as far as status - my experience above doesn't really answer your question, because you have gaming action at various casinos that are being absorbed by the single new owner, but maybe it provides some useful data.


If I were to guess, especially based on what happened (at least for a while) when MGM bought the Wynn properties (nothing), I'd say that ostensibly separate player clubs will be maintained for at least some time at those properties you mention. What I mean is, that you'll have Caesar's diamond and Tropicana gold player cards, and then by the time they are merged your player action across all properties will determine your over all status in whatever they choose to call the player club for all their properties.

From what I've observed personally, when these mergers and acquisitions happen, as long as you have no bad history with one or the other, the end change isn't a whole lot. (Unless of course the new owner has a Very new broom and Very new ideas, in which case...lots could change...think, tight-fisted Landry's buying the formerly very player friendly Golden Nugget Vegas.)

You'll have to let us know.

MD, I think the one difference here is that CET isnt buying a small property, they are being bought.

How does Eldorado handle their current players system? Are they are separate or do they share systems? I think Tropicana is the only place that I have ever played and my card says tropicana and not eldorado.

From what I read in the past CET's player card data is worth a lot of the price. I don't know if that means they will continue on with the same perks like free shows, celebration dinner, no resort fees. If that stuff ends I guess I will have to figure out where to take my play. Those are a few of the reasons that I have remained a loyal CET person.

Offer is $12.75, stock closed at $9.99 Friday. Nice 28% gain for anyone who saw this coming. Looks like stock will open around $12 based on pre opening trading.

Quote: GWAE

MD, I think the one difference here is that CET isnt buying a small property, they are being bought.

That article says its a merger.

Cuts are coming. Caesars/Harrah's has been limping along for some time now due to the heavy debt load after their merger. The renamed gaming company eventually had to declare bankruptcy. While the latest merger with Eldorado gives Caesars some relief from the debt, I don't think it is going to last long. Given Carl Ichan's track record, I expect him to borrow new debt, layoff personnel, sell off assets, then cash out, leaving long term investors holding a box of devalued stock certificates.

its official, pending feds

Here is the email that I got today.
Dear GWAE,

We're excited to share the news that Caesars Entertainment is combining with Eldorado Resorts to create a new leader in gaming and entertainment. For our Caesars Rewards members, this will mean even more choices in even more places, giving you access to approximately 60 properties across 16 states.

Today is the first day of a long journey as we merge our two companies but rest assured that the Caesars Rewards program will remain intact and be an important part of the combined company. There is no change to your Caesars Rewards program Tier Status, your Reward Credit balance or your existing reservations now or following the close of the transaction. You will continue to earn Tier Credits and Reward Credits for all of your activity as well as continue receiving offers and comps from your favorite Caesars resorts and casinos. There is no change to how you manage your Caesars Rewards account or book reservations.

Over the coming months, as we have more to share, we'll be sure to reach out to you by e-mail, at caesars.com and via Twitter (@Caesars_Rewards). In the meantime, we remain at your service and appreciate your continued loyalty. We will keep doing everything we can to offer you the best casino loyalty program.

See you soon!

Tony Rodio
Chief Executive Officer

Changes are coming. Has anyone noticed that you now earn 5-1 TC on purchases? Tier level can now be bought, not earned, like MGM. See all of those people standing in lines for the buffets? They bought their rooms. The current system can't support all of them advancing in tiers at the current levels. My prediction is that Diamond will be 45,000 TC next year. Two nights in a fancy room pretty much gets you diamond this year:

The Sake Suite
NIGHTLY RATES:
FRI07/12/2019 $1,583.75
SAT07/13/2019 $1,347.50
Subtotal: $2,931.25
Resort Fees: Complimentary
Taxes: $392.20
Total: $3,323.45
Earn 14,656 Tier Credits and 3,323 Reward Credits® on this purchase

Quote: megapixels

Changes are coming. Has anyone noticed that you now earn 5-1 TC on purchases? Tier level can now be bought, not earned, like MGM. See all of those people standing in lines for the buffets? They bought their rooms. The current system can't support all of them advancing in tiers at the current levels. My prediction is that Diamond will be 45,000 TC next year. Two nights in a fancy room pretty much gets you diamond this year:

The Sake Suite
NIGHTLY RATES:
FRI07/12/2019 $1,583.75
SAT07/13/2019 $1,347.50
Subtotal: $2,931.25
Resort Fees: Complimentary
Taxes: $392.20
Total: $3,323.45
Earn 14,656 Tier Credits and 3,323 Reward Credits® on this purchase

Can't tier level be bought ALREADY? Isn't that the whole point of DiaD? Besides, $1,500 a night on a hotel room is a pretty big chunk of change you're giving them. That $3,000 for two nights probably outweighs most if not all of the benefits they're giving back with that Diamond card.

I think it's a good move on Caesar's part. Has buying tier levels hurt MGM in any way?

The 5 to 1 has been happening for almost a year now. Has. Nothing to do with the sale.

Quote: GWAE

The 5 to 1 has been happening for almost a year now. Has. Nothing to do with the sale.

I noticed it before the sale, but didn't realize how long its been going on. I didn't pay for anything on my last trip in May, so I didn't see any extra tier. I frequently will pay for a night or two over busy weekends though, so this will benefit me for sure. I still predict 45K TC for Diamond next year though. It's a set up.

Quote: TigerWu

I think it's a good move on Caesar's part. Has buying tier levels hurt MGM in any way?

Platinum is 200K Tier for MGM. I'm not saying it hurts them, I'm predicting that they're going to raise the levels to even it out.