Harrah S Casino And Hotel ed for bankruptcy protection in Canada. Cirque du Soleil and its dozens of shows, including “Mystere” at TI, remain shuttered by the coronavirus. raging bull casino codes may 2021 (Image: Cirque du Soleil)Cirque du Soleil has been the go-to entertainment provider for numerous Las Vegas Strip casinos. Mgm Grand Casino Pool Cyap The company has held residencies at TI, New York-New York, MGM Grand, Mirage, Luxor, and Aria. MGM Resorts, the largest owner and operator of casinos on the Strip, is an official partner of the entertainment giant. Cirque du Soleil was in financial trouble prior to COVID-19. But because of the pandemic — which has resulted in bans on mass gatherings and suspended live entertainment — the company is now being forced into bankruptcy protection. A press release today announced the news that Cirque du Soleil Entertainment Group has filed for protection from its creditors under the Companies’ Creditors Arrangement Act (CCAA) in Quebec. black bear casino hotel near duluth mn

If a superior court approves of the request during a hearing tomorrow, Cirque says it will then seek Chapter 15 protection in the United States. Investopedia explains that Chapter 15, a section of the US Bankruptcy Code, is a bankruptcy filing that has mechanisms designed “to foster a cooperative environment in international insolvencies. santa ana casino concerts ”All 44 of Cirque’s global shows were shut down in March. Foxwoods Resort Casino 301 Betting Odds Dbrs The company laid off approximately 95 percent of its 4,700 staff and performers, including 1,300 workers in Las Vegas. luckyland slots win real cash Financial DemiseCirque du Soleil is a Montreal-black oak casino table gamesbased private company that traces its origins back to 1984 when street performers Guy Laliberte and Gilles Ste-Croix formed a troupe of some 20 performers. The company expanded rapidly during the 1990s and 2000s and made its way to the Las Vegas Strip in 1992 with Nouvelle Experience at The Mirage. online slot machine casino As news of its bankruptcy filing hit today, Cirque had several shows on the Strip waiting to resume performances once given the all-clear from state officials. sam s town casino las vegas rv park Present shows that are now in jeopardy of being canceled include “Michael Jackson: One” at Mandalay Bay, “The Beatles Love” at The Mirage, “Ka” at MGM Grand, “Zumanity” at New York-New York, “O” at Bellagio, and “Mystere” at TI.

Key Insights and Expert Analysis

For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization. real casino bonus no deposit borgata casino deals However, with zero revenues since the forced closure of all of our shows due to COVID-19, management had to act decisively to protect the Company’s future,” said Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group. brian christopher slot tips It wasn’t all due to the coronavirus. Cirque’s financial stability began cracking after Laliberte sold the company in 2015 for . harrah s cherokee casino event calendar 5 billion to three private equity firms. black lotus casino 100 no deposit bonus “The new owners reportedly pivoted Cirque toward being an analytics-driven culture, which is pretty much the best way to suck the souls from creative people,” Scott Roeben of Vital Vegas reported earlier this year. “You know, the ones who made Cirque the eblack oak casino table gamesntertainment juggernaut it had become. cache creek casino news upcoming events at seven feathers casino ”Shows Play Critical RoleLas Vegas casinos rely heavily on marquee entertainment to attract guests to their properties. desert diamond casino military tribute

And Cirque shows appeal to a wide range of visitors. In the Las Vegas Convention and Visitors Authority (LVCVA) 2019 Visitor Profile Study, nearly one in two visitors reported seeing a show during their trip. Thunder Valley Casino Deals Xnvd Nevada Gov. table games at empire casino Steve Sisolak (D) allowed casinos to begin reopening June 4 but said he will delay moving into Phase Three of reopening after Nevada recently experienced an upward trend in the number of coronavirus cases. Shares of Eldorado Resorts (NASDAQ:ERI) are higher by more than 10 percent in midday trading Monday, a move supported in part by an analyst saying the stock has the potential to become a triple-digit name in the future. Soon-to-be Caesars Palace operator Eldorado Resorts could be is playing online poker legal Golden Nugget Casino No Deposit Bonus Codes Pjxb