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Old 06-24-2019, 04:52 PM
 
14,080 posts, read 11,812,260 times
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We have a big casino merger.

https://lasvegassun.com/news/2019/ju...valued-at-17b/

From a local's standpoint, this is going to move Caesars HQ from Vegas to Reno. I don't know what effect that will have. Nor do I have any idea how this will effect Caesars' Vegas properties.
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Old 06-24-2019, 05:00 PM
 
Location: Studio City, CA 91604
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El Dorado will probably move to Las Vegas, not vice versa. I can't see them staying in Reno. If they do, it will make Nevada's largest corporate entity located up north. That will make for some interesting politics given that most of their holdings and most of the state's legislation come from the southern part of the state now.

This has been interesting to watch. El Dorado made an offer to buy Ceasars back in May but it fell through. Apparently, they ponied up enough cash this time.
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Old 06-24-2019, 07:08 PM
 
Location: Aliante
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Wow, it will be 60 casinos across 16 States. The largest ever.

"The company, which will be called Caesars, will be led by Reeg, along with Eldorado Chairman Gary Carano. It will be based in Reno, Nevada, where Eldorado is based, with a 'significant corporate presence' in Las Vegas, where Caesars is based."
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Old 06-25-2019, 04:41 AM
 
126 posts, read 63,640 times
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Is Eldorado betting the Farm? using a boatload of debt?
First order of business. Bring RIO status above that of Circus of Circus...... Lol. Billion dollars remodel should do it.


Why buy now? Wait a few years Caesar's could be had for a song. I firmly believe the Drew seeS big turbulence ahead.

Low interests rates cause people to overpay for aSSets.
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Old 06-25-2019, 10:23 AM
 
9,961 posts, read 3,580,940 times
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Quote:
Originally Posted by kttam186290 View Post
El Dorado will probably move to Las Vegas, not vice versa. I can't see them staying in Reno.
They've announced the corporate HQ will not move.

When such things occur, they always pay lip service to selecting the best of the people regardless if they used to be part of Caesars or El Dorado. We'll see. I'm guessing there are a lot of people in Caesar's corporate overhead who are not sleeping well right now.
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Old 06-25-2019, 12:23 PM
 
Location: Pacific Northwest
438 posts, read 264,556 times
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Quote:
Originally Posted by Jeers McGee View Post
Is Eldorado betting the Farm? using a boatload of debt?
First order of business. Bring RIO status above that of Circus of Circus...... Lol. Billion dollars remodel should do it.


Why buy now? Wait a few years Caesar's could be had for a song. I firmly believe the Drew seeS big turbulence ahead.

Low interests rates cause people to overpay for aSSets.
I thought they had tried buying earlier, but didn't have the funds. Apparently it's always been a goal for them to purchase into Caesar's and why not? The brand recognition itself boosted Eldorado from a simply Reno run operation to one of the Big Boy Vegas/world known casino and entertainment brands.

Especially outside of the US Caesar's is synonymous with Vegas and I feel in my visits most of the bigger named casinos on the strip under the Caesar;s brand are pretty much exclusively targeting the international dollars and upper spending levels more than the simple masses. And Caesar's has been on the market for enough time that anyone with the right money could come in if they wanted to. It just seems that Eldorado was the most interested party (casino brands aren't cheap or easy to navigate, another NV company really has a step up there)

I have a feeling that with Carl Icahn behind this move, we'll see Caesar's do plenty of changes so him and his friends can get the most out of their investment. Glad my husband and I got to enjoy a couple cheap nights before everything gets "shareholder approved".
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Old 06-25-2019, 12:41 PM
 
Location: Las Vegas, NV
372 posts, read 188,203 times
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Quote:
Originally Posted by Thedude404 View Post
IMO there will have to be a lot of consolidation within the two brands. Take their sports betting unit. So many different and competing brand affiliations within both organizations. It's totally confusing. Not sure how all of that is going to work out.

As far as the Rio goes, I'm still of the opinion that this will eventually be bulldozed. Zero chance they are going to dump a billion dollars into the Rio. Bulldoze it and sell the property to say a MLB team to build a stadium. Either that just sell it off to another casino and let them dump a billion dollars into a failed entity.
If they do keep their HQ in Reno, it's going to put a lot of middle class workers out on the streets with that consolidation. With MGM shaving their workforce, that is a lot of decently skilled workers that don't have many options left to them and there isn't enough non-gaming opportunities for them to pursue, either.

The one saving grace for the Rio is the WSOP. I'd be shocked if that isn't what keeps the place running. If they relocated the WSOP to a strip property, I'm sure there would be some backlash from the players because of logistical nightmares.
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Old 06-25-2019, 04:30 PM
 
Location: Las Vegas, NV
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Quote:
Originally Posted by musicfamly5 View Post
Especially outside of the US Caesar's is synonymous with Vegas and I feel in my visits most of the bigger named casinos on the strip under the Caesar;s brand are pretty much exclusively targeting the international dollars and upper spending levels more than the simple masses.

When I visit friends in Europe, I normally buy decks of casino-used playing cards to give out as gifts. They don't cost a lot, they are easy to carry in luggage, they are light, and people enjoy them. The people who ask for a specific hotel invariably ask for Caesars.
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Old 06-25-2019, 04:54 PM
 
Location: Here and there, you decide.
12,769 posts, read 25,554,686 times
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Quote:
Originally Posted by orca17 View Post
When I visit friends in Europe, I normally buy decks of casino-used playing cards to give out as gifts. They don't cost a lot, they are easy to carry in luggage, they are light, and people enjoy them. The people who ask for a specific hotel invariably ask for Caesars.
They aren’t going to change the name of Caesar’s palace
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Old 06-25-2019, 09:25 PM
 
Location: Las Vegas, NV
372 posts, read 188,203 times
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Quote:
Originally Posted by Thedude404 View Post
The WSOP is being relocated to the building currently under construction behind the Linq.
Then yeah, the Rio is pretty much a dead man walking. I certainly wouldn't invest anything into that property.
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