Caesars Entertainment is lacking a week that is good being hit with numerous crises; any resemblance of Nero here to company CEO Gary Loveman is solely coincidental.
Then Caesars Entertainment Corp. is doing just fantastically well if the old adage that bad publicity is better than no publicity holds true. By just about any measures, however: perhaps not so much.
As if being forced for PR reasons to cut ties with its Las Vegas Strip new hotel and casino project partner Gansevoort and bailing from a $1 billion Boston-area casino project with racetrack Suffolk Downs weren’t sufficient, the casino giant is now reportedly the topic of federal inquiry into potential violations of the lender Secrecy Act at Caesars Palace, their flagship Las Vegas home. Then add a bizarre and random shooting outside of Drai’s at Caesars-owned Bally’s in Las Vegas, a tragedy that left one patron dead who was trying to tackle the gunman, also two security guards wounded. And lastly, a baby that is newborn body reportedly found behind Planet Hollywood on the Strip in identical week might have made it seem like the Apocalypse had landed in Caesars’ backyard in front of schedule.
Problem After Problem for Caesars
Of course, the company’s industry-high $23.5 billion debtload that is long-term not also news anymore; it’s just become a huge yoke that Caesars now carries around wherever it goes these days. The real question is, whic