MGM, Wynn, Caesars
The news from Las Vegas and casinos never seems to stop. On Friday afternoon I headed out to Cleaver for a delicious half-price steak for Happy Hour and news was still developing. It wasn’t until I returned home that I really caught up.
While the big Friday news wasn’t in Las Vegas it did involve two of the biggest casino operators.
Wynn Resorts Talking To MGM Resorts About Boston Harbor
The Boston Herald was the first to report that Wynn Resorts is discussing a sale of Encore Boston Harbor with MGM Resorts yesterday afternoon. This isn’t the first time the two companies have discussed the deal. Last year the New York Post shared a rumor that the two were talking.
A casino operator in Massachusetts can only own one casino so MGM Resorts might have to sell MGM Springfield if they purchase Encore. The city of Springfield is hoping this doesn’t happen. The Stiffs & Georges blog mentions that MGM’s REIT, MGM Growth Partners, could purchase the land instead of MGM Resorts. Maybe that’s a way around the law.
That’s enough non-Vegas talk. This is probably a big deal but let’s get to Las Vegas.
As Caesars Turns: Eldorado Faces Deadline
The New York Post is reporting that Eldorado Resorts has until the end of May to buy Caesars Entertainment. The challenge with this purchase is that Eldorado wants to find a way to find a way to cut expenses by $500 million. There are synergies to the purchase but that might be a bit much. We should find out soon.
Meanwhile, Caesars Is Cutting Expenses
When Caesars Entertainment announced their new CEO, they mentioned that they would work to make Caesars a better company while looking at outside options. In other words, everything is on the table.
Part of making the company better includes streamlining its properties. The sale of 70% of Emerald Resort in South Africa not only gives the company $49 million but it will allow the existing company or new operator to focus on their core properties. It wouldn’t be a surprise to see more random assets sold.
Caesars Entertainment, The Linq, And ESPN
Caesars is operating as though everything is normal. They announced another sports betting partnership this week. They will build a broadcast studio at The Linq for ESPN. In return, the sports network will use Caesars Entertainment’s sports betting odds. The studio will open at The Linq next year.
Back in February, Caesars signed a similar deal with Turner. They’ve built a broadcast studio for Bleacher Report at Caesars Palace Las Vegas. You can check it out now. In return Bleacher Report and Turner are using Caesars Entertainment sports betting odds.
It’s business as usual at Caesars Entertainment, there’s nothing to see until the next episode of “As Caesars Turns.”
Quick Hits
- The Neon Museum is expanding in a big way. It’s adding more space across the street. See and read more here.
- MGM Resorts might have to pay $800 million as a settlement for the October 1 shooting. Read more here.
- Cleo and Bazaar Meats at SLS Las Vegas both have special prix-fixe meals this summer for $40 and $80, respectively. You can see the deals here. Additionally, Cleo has unlimited Rose for $10 during Happy Hour in May. Read about that here.
- The Las Vegas Global Economic Alliance would like people to think that Las Vegas locals don’t mind paid parking. Read more here.
- The RTC has a new Sprinter rideshare service called Trip Strip. Read more here (there’s also a promo code if you want to try the service).
- Nevada (and Illinois) want to raise taxable slot machine jackpots from $1,200 to $5,000. Read more here.
- The Smith & Wollensky steakhouse has a new home at the Grand Canal Shoppes inside The Venetian. Read more here.
- Britney Spears may never perform again. That means her Park Theater residency won’t happen. Read more here.
- Duran Duran is playing two more shows at the Cosmopolitan. Other casino operators might call repeated performances a couple of times a year a residency. Read more here.
- Reba, Brooks and Dunn have added more shows at Caesars Palace. Read more here.
- Andrea’s at Encore is closing. A Mexican restaurant will take its place. Read more about a restaurant that will charge way too much for tacos here.
- “O” at Bellagio is adding more shows. Read more here.
- “The Terry Bradshaw Show” will take place at the Luxor this August 1-4. Yes, this is the ex-football player. Read more here.
- “Celestia” at The Strat is expected to finally open on June 5. Read the press release here.
- The Italian restaurant nobody went to at Red Rock is closing. Funny how that works. Read more here.
- Wayne Newton has been performing for 60 years! HOLLA! Read about it here.
- Babymetal has new music and will be playing performing at House of Blues in June. Read and hear more here. I prefer the old jams.
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