Tag: Adelson Caesars
Sheldon Adelson Lashes out at MGM and Caesars
August 15, 2013
Pokerati – Having navigated MGM Resorts International through almost four years of turbulent economic waters, Jim Murren has grown used to hearing negative comments from haters and detractors. What surprised Murren, however, were some recent vitriolic remarks directed at his company from a competing corporate office down the street. Las Vegas Sands Corp. Chairman Sheldon Adelson used his quarterly earnings conference call to blame Caesars Entertainment Corp. and MGM Resorts for driving down hotel room rates along the Strip, thus, diminishing Adelson’s earnings in Las Vegas. Adelson claimed the industry-leading long-term debt carried by Caesars ($23.7 billion) and MGM Resorts…