Hit With Crisis After Crisis, Caesars Struggles to Keep an Even Keel



Caesars Entertainment is lacking a good week after being hit with numerous crises; any resemblance of Nero here to business CEO Gary Loveman is solely coincidental.

If the old adage that bad publicity is better than no publicity is true, then Caesars Entertainment Corp. is doing simply fantastically well. By some other measures, however: not so much.

As if being forced for PR reasons to cut ties with its Las Vegas Strip new hotel and casino project partner Gansevoort and bailing from the $1 billion Boston-area casino project with racetrack Suffolk Downs weren’t sufficient, the casino giant happens to be reportedly the topic of federal inquiry into potential violations of the lender Secrecy Act at Caesars Palace, their flagship Las Vegas home. Then add a bizarre and random shooting outside of Drai’s at Caesars-owned Bally’s in vegas, a tragedy that left one patron dead who was trying to tackle the gunman, as well as two security guards wounded. And lastly, a baby’s body reportedly found behind Planet Hollywood on the Strip in identical week might are making it seem like the Apocalypse had landed in Caesars’ backyard in front of schedule.

Problem After Problem for Caesars

Needless to say, the company’s industry-high $23.5 billion debtload that is long-term maybe not even news anymore; it’s just become a huge yoke that Caesars now carries around wherever it goes these days. The real question is, which o Continue reading