Caesars Will Sell Strip Casino Next Year

Industry

Things have been rocking in Sin City as the recovery from the pandemic continues, but one Strip casino is on the chopping block. Which one? No one knows just yet… not even Caesars Entertainment.

Despite a robust jump in revenue over last year, the company as a whole still expects to see a net loss of more than $230 million. Revenue is up almost 90% from last year, but has announced plans to part ways with a yet-to-be-named Strip casino.

Caesars is making this move in order to secure more cash, and also has plans to liquidate their William Hill assets which are not US-facing. Despite these moves, Caesars stated that they are “Encouraged by the early results from our rebranded Caesars sports book”“. They do plan to operate in even more American markets as we move toward 2022.

All told, these moves Caesars should be able to accumulate over $5 billion in cash as they move toward recovering from their massive debts.

Products You May Like

Articles You May Like

Kristen Foxen, Jeanne David Honored with 2024 Women in Poker Hall of Fame Induction
Missouri Approves Sports Betting with Slim Margin, Legalization by 2025
Venetian and Palazzo Restructure Workforce to Boost Agility Amid $1.5B Renovation
From Chicago Poker to Game of Gold: Kyna England’s Story | Life Outside Poker #20
Great Britain ‘lags behind’ Europe on betting ad regulation, says gambling charity

Leave a Reply

Your email address will not be published. Required fields are marked *