Caesars Entertainment near Bankrupt

[ReplayRandall]

Originally Posted by ReplayRandall

Wynn Resorts looks to be on shaky ground, as well as the rest of Las Vegas:
http://blogs.barrons.com/stockstowat...rrons&ru=yahoo

Wynn Resorts getting hammered. Here are the numbers:


Company: Wynn Resorts Ltd. (NASDAQ: WYNN)

Revenue: $946.9 million in the fourth quarter, down 16.8 percent from the same time period one year earlier, which the company attributed to a steep drop in revenue from its Macau operations. For the full year, Wynn Resorts said its net revenue was $4.08 billion, down 25 percent from 2014.

Earnings: $87.2 million for the quarter, compared to $109.3 million in the fourth quarter of 2014. For the full year, Wynn Resorts said its net income was $195.3 million compared to $731.6 million in 2014.

Earnings per share: 86 cents in the fourth quarter, compared to $1.07 one year before. For the full year, earnings per share were $1.92, compared to $7.18 the year before.


To read the complete article:

http://vegasinc.com/business/gaming/...in-4th-quarte/

[ReplayRandall]

Caesars Announcing, "We're looking to expanding greatly"(when we exit Bankruptcy).....


Caesars Plans New Las Vegas Developments After Bankruptcy Exit

by Christopher Palmeri
May 18, 2017, 4:42 PM EDT



Caesars Entertainment Corp. Chief Executive Officer Mark Frissora wants to develop more than 90 acres the company owns in Las Vegas, including land right in front of Caesars Palace, after its largest unit emerges from bankruptcy later this year.
“We have a lot of real estate that’s underutilized,” Frissora said in an interview with Bloomberg TV Thursday. “We have plans to basically develop all of that very valuable center-strip property as soon as we emerge. Those assets will have a very high-return, low-risk profile.”


Caesars, the largest owner of casinos in the U.S., has struggled under a mountain of debt since a $30 billion leveraged buyout in 2008. In January of 2015, the company put its largest division, Caesars Entertainment Operating Co., into bankruptcy. It’s expected to exit in the third quarter.
The Las Vegas-based company has enjoyed growth in sales and profit over the past two years, due in part to a strategy of renovating hotel rooms and searching for cost savings in places ranging from parking lots to guest check-in. Caesars hosted a nearly three-hour-long presentation for analysts in Las Vegas Thursday.

Read the rest here:

https://www.bloomberg.com/news/artic...ankruptcy-exit

[JustRalph]

Glad that $39 dollar medium pizza I bought last fall, helped so much.

[barahona44]

Originally Posted by ReplayRandall

Caesars Announcing, "We're looking to expanding greatly"(when we exit Bankruptcy).....


Caesars Plans New Las Vegas Developments After Bankruptcy Exit

Donald Trump tweets "See,everybody,, I'm not the only one!"

[ReplayRandall]

Caesars to Shut Mississippi Casino in Sign of Saturated Industry

Caesars Entertainment Corp. is closing its Tunica Roadhouse Casino in Mississippi as it copes with a saturated gambling market.
The site will be shuttered at the end of January, while the adjacent hotel will stay open, the Las Vegas-based company said. The move will affect about 150 employees. Caesars will continue to operate the Horseshoe Tunica casino in that market.

Read full article:

https://www.msn.com/en-us/money/comp...cid=spartanntp