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Old School Las Vegas Strip Casino Royale Faces Surprise Implosion
While Las Vegas has always looked to the past for some of its entertainment choices, it's much less nostalgic when it comes to aging casinos. That's especially true on the Las Vegas Strip where land has become so exceptionally valuable that its makes little sense to operate dated properties.
That's why it makes sense for Bally's Corp. (BALY) -
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Gwinnett Daily Post
Major Player Answers Las Vegas Strip Casino Sale Question
Caesars Entertainment flirted with selling one of its Las Vegas Strip properties for much of 2022. It was a public process that the company gave updates on regularly, but those updates never actually told people much.
That led to all sorts of
speculation
as to exactly which Strip resort casino the company would sell. Logically, Planet Hollywood…
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hermistonherald.com
Two Key Las Vegas Strip Resorts Casinos Could Be Sold
Major deals appear to be coming on the Las Vegas Strip where a casino sale doesn't always mean a change in operators.
In the past 12 months, the Las Vegas Strip has seen some massive deals, as MGM Resorts International (MGM) -
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bought the operating rights to the Cosmopolitan while it sold operating rights to Mirage to Hard Rock…
Review Journal
6 biggest casino deals on the Las Vegas Strip in 2022
A number of casino operators changed up their real estate portfolio this year with sales, acquisitions and leasebacks - showcasing a flurry of activity after the short but steep economic fallout caused by the COVID-19 pandemic.
And a number of those deals, announced last year, have closed in 2022.
Here are six of this year's major deals on the…
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The Street
This Year's Best Las Vegas Strip Deal Was One That Never Happened
Las Vegas entered 2022 with a whimper. After a year that had been ruined due to covid, it seemed like the turning of the calendar would mark a new beginning for the Las Vegas Strip.
The Consumer Electronics Show (CES), one of Las Vegas's largest conventions, which had been canceled the previous year, would make a full return in all its glory. That,…
The Street
Mirage Closing, Caesars Flops: 2022’s Top Las Vegas Strip Stories
The Las Vegas Strip kicked off the year by hosting CES, the big tech conference long-known as the Consumer Electronics Show, which was expected to be somewhat close to normal after being virtual the year before. But it ended up as a shell of itself due to the Omicron variant of covid. Instead of Sin City's grand return, the event saw mostly empty…
The Street
Caesars Las Vegas Strip Failure Turns Into a Huge Win
Every inch of land on the Las Vegas Strip has become incredibly valuable. Recent sales have placed the value of a single acre at $10 million -- and that's land located on the less popular northern end of the Strip.
The Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors recently approved the sale and licensed use of a ten-acre…
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The Street
Caesars' Las Vegas Strip Failure Turns Into a Huge Win
Every inch of land on the Las Vegas Strip has become incredibly valuable. Recent sales have placed the value of a single acre at $10 million -- and that's land located on the less popular northern end of the Strip.
The Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors recently approved the sale and licensed use of a ten-acre…
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The Street
Huge Las Vegas Strip Casino Deal Falls Through
Real estate on the Las Vegas Strip has become incredibly valuable. Strips of land sell for tens of millions of dollars and any parcel big enough to host a casino goes for much more than that.
Actual casinos sell for billions of dollars. MGM Resorts International MGM sold Mirage to
Hard Rock International for $1 billion
and paid $1.625 billion to…
Poker News Daily
Caesars Entertainment Reverses Plans to Sell a Las Vegas Strip Property
The United States casino industry has gone through changes in the last few years, as companies have bought and sold casinos, shut some down, and renamed others. On Tuesday, we found out that one thing will stay the same in the immediate future: Caesars Entertainment is not going to sell any of its properties on the Las Vegas Strip.
In a third…
The Street
Caesars' Las Vegas Strip Asset Sale Has a Resolution
Real estate on the Las Vegas Strip has become incredibly valuable. Strips of land sell for tens of millions of dollars and any parcel big enough to host a casino goes for much more than that.
Actual casinos sell for billions of dollars. MGM Resorts International MGM sold Mirage to
Hard Rock International for $1 billion
and paid $1.625 billion to…
The Street
Huge Las Vegas Strip Casino Deal Looks Dead
Fortunes get made and lost in Las Vegas and that's not just something that impacts gamblers.
Companies including Caesars Entertainment (CZR), MGM Resorts International (MGM), Wynn Resorts (WYNN), and newcomers including Hard Rock International want a piece of the action on what has become the most lucrative (and competitive) 4.2-mile stretch of…
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Caesars Misses Deadline on Las Vegas Strip Casino Sale
It looks like the sale won't be happening (at least for now) and that could mean big changes at the iconic resort casino
Selling an asset on the Las Vegas Strip, at a time when any property on that historic 4.2-mile road has become incredibly valuable, seems like a terrible idea. Yes, prices have hit historic highs, but the value of the asset still…
The Street
Bally's Close to Making a Huge Las Vegas Strip Deal
In early August, Bally's Corp. (BALY) stock tumbled after the casino operator cut its 2022 revenue and EBITDA estimates due to weakness at its venue in Atlantic City.
The company is now expecting 2022 EBITDA between $535 million and $550 million, down from its previous forecast between $560 million and $580 million. The company now expects sales…
The Street
Caesars Nears Las Vegas Strip Casino Sale (It's More Complicated Than That)
Caesars Entertainment (CZR) -
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Chief Executive Tom Reeg spent $17.3 billion when his former company, Eldorado Resorts, bought the casino giant in 2020, The new company kept the Caesars name and took on roughly $13 billion in debt at the time of the deal.
The combined company owns casinos all around the U.S. and…
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Caesars Looking to Offload Flamingo Casino for Over $1bn
Caesars Entertainment Inc. is looking to sell its Flamingo Casino for a price tag of over $1bn, per sources close to
Bloomberg.
interest has dwindled because of the necessary renovations
No potential buyers have emerged from private deliberations regarding the sale. The casino has been offered to private firms and other agencies, but interest has…
The Street
Caesars Closing in on Las Vegas Strip Casino Sale
Caesars Entertainment (CZR) -
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and MGM Resorts International (MGM) -
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fight for domination over the south and central Las Vegas Strip.
Both companies have made recent moves to one-up the other, with the most notable being MGM essentially - though not literally -
trading the…
The Nevada Independent
A buyer’s market: Vegas Strip casinos a hot commodity
High-profile Las Vegas Strip resorts aren't put up for sale every day.
Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino.
In a year that has seen more than $30 billion in announced mergers and acquisition…
Travel Awaits
Two Major Las Vegas Strip Resorts Putting Hotels Up For Sale
Most visitors on the
Las Vegas Strip
know there are dozens of hotels and casinos, each with its own theme or individual aesthetic.
But behind the scenes, many of the highest-profile properties are owned by two companies: MGM Resorts and Caesars Entertainment. And in the past few months, the two companies have been wheeling and dealing with their…
The Nevada Independent
MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner
Nearly a decade ago, MGM Resorts International owned much of the Las Vegas Strip.
The company controlled more than 800 acres along the resort corridor, much of which housed 10 Strip resorts, the 67-acre CityCenter complex, a 33-acre concert venue and 23 acres that became The Park dining and retail space and T-Mobile Arena.
"It's a good time to be…
