Caesars Entertainment is not having a good week after being hit with numerous crises; any resemblance of Nero here to business CEO Gary Loveman is purely coincidental.
Then Caesars Entertainment Corp. is doing just fantastically well if the old adage that bad publicity is better than no publicity holds true. By just about any measures, however: not so much.
As if being forced for PR reasons to cut ties with its Las Vegas Strip new hotel and casino task partner Gansevoort and bailing from the $1 billion Boston-area casino project with racetrack Suffolk Downs were not sufficient, the casino giant has become reportedly the topic of federal inquiry into potential violations of the lender Secrecy Act at Caesars Palace, their flagship Las Vegas property. Then put in a bizarre and shooting that is random of Drai’s at Caesars-owned Bally’s in Las vegas, nevada, a tragedy that left one patron dead who ended up being trying to tackle the gunman, in addition to two security guards wounded. Last but not least, a baby that is newborn body reportedly found behind Planet Hollywood on the Strip in the same week might have made it seem like the Apocalypse had landed in Caesars’ backyard ahead of schedule.
Problem After Problem for Caesars
Of course, the company’s industry-high $23.5 billion debtload that is long-term perhaps not even news anymore; it’s just become a huge yoke that Caesars now carries around wherever i