Caesars Entertainment has agreed to sell the World Series of Poker brand and all of its intellectual property to the operator of GGPoker, the NSUS Group, for $500 million. The deal should be finalized before the end of this year and includes $250 million in cash and a $250 million promissory note payable five years after the deal closes. Despite the sale, Caesars will retain the rights to host the annual World Series of Poker live tournament in Las Vegas for the next 20 years. Caesars Digital will also receive a license from NSUS to continue operating its WSOP Online…

Just one day before workers across Las Vegas are set to walk off the job, Caesars Entertainment has reached an agreement with the Union. The deal was struck after a “historic” 20 hours negotiation session between the two sides, although details have not been made public. This does not mean that a Las Vegas strike has been averted, as there has been no announcement of an agreement reached between Union representatives and the other two operators involved. Talks with MGM Resorts and Wynn Resorts continue, but the deadline for the work stoppage is now less than 24 hours away. Union…

While the company has been hemorrhaging cash for several years, Caesars sports betting is now expected to be generating a profit for the company by the fall of 2023. This according to their CEO, Tom Reeg . In a story reported on Yahoo! Finance, Caesars online gaming and sports betting lost over $550 million in just the first quarter of this year. But according to Reeg, the company has a plan. First up, they will cut their marketing spend, saving over $250 million. The second step in the recovery process is for Caesars to narrowly target their more “profitable customers”…

We’ve reported on the big changes coming to the Las Vegas Strip over the past few weeks, and now you can add another name to that list of casinos. We just don’t know what that will be yet. The Chief Executive Officer of Caesars Entertainment, Tom Reeg, recently confirmed that the company is looking to move one of their casinos on Las Vegas Boulevard, but he did not reveal which property that would be. During the company’s Earnings Call last week, Reeg stated Caesars expects to sell a Las Vegas Strip casino, and that they had launched that process earlier…

Caesars Entertainment has confirmed that they are still planning to sell one of their properties on the Las Vegas Strip… they’re just not is a rush to do it. Especially while the pandemic is still hurting the economy. With Coronavirus still lurking in the shadows, a Caesars executive said that they will wait to sell any resort until the market rebounds after the pandemic. There had been rumors of the San Manuel Band of Mission Indians could be a suitor. However, they just completed a purchase of the Las Vegas Palms for $650 million. Caesars CEO Tom Reeg said that…

The vaccine has been rolling out and recovery is underway. But despite the good news, many Las Vegas casinos are still dark. Thirteen, to be exact. And while some properties are waiting for restrictions to lessen, others have closed their doors forever. Some of the more popular properties on the “still closed” list include Main Street Station, Eldorado, Texas Station, and The Palms. It has already been announced that Main Street Station will reopen, but the question is when. The best answer is ‘when it’s profitable’, and that means when tourism returns. The Eldorado Casino is gone forever… sort of….