Mgm Grand Casino Biloxi Mibibippi  Las Vegas)Amid a flurry of high profile Strip asset sales this year, including the Venetian and Sands Convention Center in March and the Cosmopolitan in September, speculation intensified regarding when Caesars would divest one of its Sin City properties. resorts casino online phone number Previously, the operator said such a transaction would not occur until next year, and that’s the timeline it’s sticking to. We also think this is an opportune time to execute on our strategy of a strip asset sale. So you should expect us to put that in motion in the early part of ’22,” said CEO Tom Reeg on the company’s third-quarter earnings conference call on Tuesday. Reeg didn’t specify which one of the operator’s eight Sin City venues could be on the sale block. Free Slot Machines Las Vegas Ggup The other from that group — Caesars Palace — is owned by VICI Properties (NYSE:VICI). viejas casino jobs Sale Could Fetch Premium PriceThe comparisons aren’t apples-to-apples, but recent Las Vegas gaming property transactions provide some template for realistic price ranges on a Caesars’ asset sale. slotocash casino bonus codes 2020

Additionally, the operator has scarcity value on its side. mountaineer casino and resort chester wv “Now we’ve got a track record that we can point to in terms of what the property can generate, and the playing field has been cleared with the Cosmo and Aria trades, to where we should have a pretty robust — we should encounter pretty robust demands for a center strip asset that, frankly, may be one of the last ones to trade for quite some time,” said Reeg. In July, MGM Resorts Internationviejas casino drinksal (NYSE:MGM) sold the property assets of Aria and Vdara to private equity firm Blackstone (NYSE:BX) for . free online slots poker 89 billion in cash in a sale-leaseback transaction. four winds casino south bend hotel Reeg didn’t say if Caesars is considering a sale-leaseback or a traditional divestment. the slot machines in a casino Bovada Casino App Android Wwhj Austria But he notes, “We’d expect to sell a single property and be done. casino auto body ”Following the 2020 takeover by Eldorado Resorts that created “new Caesars,” speculation swirled regarding which of its Las Vegas properties Caesars could part with.

Key Insights and Expert Analysis

Planet Hollywood and Paris were often the epicenters of those rumors. 8 casino road marino online casino real money bulgaria In a deal struck with VICI on the day it announced its offer for Caesars in June 2019, Eldorado granted the landlord rights of first refusal on Flamingo Las Vegas, Bally’s Las Vegas, Paris Las Vegas, and Planet Hollywood. Those rights extend to a second possible deal, which would include the remainder of that group — assuming one sale pact is reached — and the LINQ Hotel & Casino. Caesars Property Sale: Big Cash BoosterCombine a Las Vegas sale with incoming cash from the sale of William Hill’s international assets, paring of the NeoGames (NASDAQ:NGMS) stake, and increasingly robust cash flow from its land-based casinos, and Caesars could have “well in excess of billion of cash to deploy in 2022,” said Reeg. river spirit casino lost and found harrah s cherokee casino telephone number Not surprisingly, some of that capital will be spent on iGaming and sports wagering. borgata casino mask policy Spa At Valley Forge Casino Xuch Those segments have long been viewed as catalysts for Caesars stock, and Reeg sees the digital business turninviejas casino drinksg positive on the basis of earnings before interest, taxes, depreciation and amortization (EBITDA) by the start of the 2023 football season. However, Reeg adds, “The vast majority of that cash is going to go to pay down debt. kansas star casino swap meet

” Caesars is aiming to reduce its annual interest expenses to 0 million to 0 million below where those costs were when the Eldorado takeover was finalized. admiral casino contact number The Richmond casino referendum outcome in Virginia was expected to be close. Hallmark Casino Codes 2021 Vzbk And close it was, as it took until Wednesday morning around 10 am to declare an outcome. Richmond casino signs outside a polling place in the Virginia capital hyped the benefits of allowing a gambling property to come to town. club players casino But city residents narrowly rejected the local ballot referendum.