{"id":111380,"date":"2019-08-07T07:00:20","date_gmt":"2019-08-07T14:00:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=111380"},"modified":"2019-08-07T12:32:34","modified_gmt":"2019-08-07T19:32:34","slug":"eldorado-resorts-ceo-says-several-casino-operators-interested","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/","title":{"rendered":"Eldorado Resorts CEO Says Several Casino Operators Not Currently on Las Vegas Strip Interested in Caesars Properties"},"content":{"rendered":"<p>Eldorado Resorts CEO Tom Reeg told investors this week during the company&#8217;s second quarter conference call that several casino operators not currently invested on the Las Vegas Strip are interested in acquiring a Caesars Entertainment property.<\/p>\n<figure id=\"attachment_111384\" aria-describedby=\"caption-attachment-111384\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-111384\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg\" alt=\"Eldorado Resorts Caesars Las Vegas\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-1024x683.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-166x110.jpg 166w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-450x300.jpg 450w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22-600x400.jpg 600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption  id=\"caption-attachment-111384\"class=\"text-description\">The CEO of Eldorado Resorts says a Caesars Entertainment Strip casino such as Planet Hollywood or Paris could be for sale. (Image: USA TODAY)<\/figcaption><\/figure>\n<p class=\"p1\">Eldorado has agreed to acquire the larger Caesars for $17.3 billion, a deal that&#8217;s expected to close in the first half of 2020. If completed, Reno-based Eldorado, which has specialized in regional casino operations, would immediately become the largest player in the US gaming industry in terms of revenue.<\/p>\n<p class=\"p1\">The combined entity would retain the Caesars brand over Eldorado. In the interim, there&#8217;s been plenty of speculation that, once aligned, the group would look to sell at least one casino resort on the Las Vegas Strip.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\">Reeg said in June that &#8220;there is more Strip exposure than we need.&#8221; This week, he revealed that such a sale isn&#8217;t likely until after the acquisition is fully executed.<\/p>\n<\/blockquote>\n<p class=\"p1\">Eldorado currently operates 26 casinos in a dozen states \u2013 but none in Las Vegas. Caesars has 34 properties in 14 states, including nine in Las Vegas. Eight of those are on the Strip.<\/p>\n<h2 class=\"p1\"><b>Stripping Down Candidates<\/b><\/h2>\n<p class=\"p1\">Reeg revealed to shareholders that he&#8217;s fielding interest regarding a Las Vegas Strip casino from several companies. But he didn&#8217;t divulge <a href=\"https:\/\/www.casino.org\/news\/several-potential-buyers-for-caesars-vegas-assets-could-emerge\">any potential suitors<\/a>.<\/p>\n<p class=\"p1\">Here&#8217;s what some potential investors have said:<\/p>\n<p class=\"p1\">Though Phil Ruffin is invested on the Strip already with his Treasure Island, the billionaire has publicly said he would make a play for a second casino on the main drag, so long as it isn&#8217;t controlled by a real estate investment trust (REIT). Caesars REIT is VICI Properties, which owns the physical assets of just two of Caesars&#8217; nine Las Vegas casinos \u2013 Caesars Palace and Harrah&#8217;s Las Vegas.<\/p>\n<div class=\"callout\">\n<p class=\"p1\">That leaves Bally&#8217;s, The Cromwell, Flamingo, Linq, Paris, and Planet Hollywood as potential properties Ruffin might be interested in. Caesars also owns the non-Strip resort Rio.<\/p>\n<\/div>\n<p class=\"p1\">Golden Nugget billionaire Tilman Fertitta is also interested in moving to the Strip and expanding from downtown. He said recently, according to the\u00a0<em>Houston Chronicle<\/em>,\u00a0&#8220;100 percent, I&#8217;m interested. I&#8217;ll try to pick off one or two properties.&#8221;<\/p>\n<p class=\"p1\">Other casino operators with the wherewithal of buying a Caesars property that aren&#8217;t currently invested on the Strip include Boyd Gaming and Rhode Island-based Twin River Worldwide Holdings. And though Penn National owns Tropicana, the regional power player is also a likely candidate.<\/p>\n<h2 class=\"p1\"><b>Turbulent Wall Street Week<\/b><\/h2>\n<p class=\"p1\">Eldorado Resorts missed <a href=\"https:\/\/www.casino.org\/news\/caesars-second-quarter-revenue-rose-thanks-to-food-and-sports\">analyst revenue expectations<\/a> in the second quarter. Reeg blamed various culprits such as flooding in Missouri and Mississippi, as well as construction disruptions in Colorado and Reno.<\/p>\n<p class=\"p1\"><strong>As a result, shares of the casino operator fell around 3 percent. The down trading came after a dismal beginning of the week that saw all three major US indexes drop around 3 percent on escalating trade tensions between the US and China.<\/strong><\/p>\n<p class=\"p1\">Reeg says the company is confident its &#8220;experience in unlocking value at acquired properties&#8221; will make the Caesars acquisition a sound financial investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eldorado Resorts CEO Tom Reeg told investors this week during the company&#8217;s second quarter conference call that several casino operators not currently invested on the Las Vegas Strip are interested in acquiring a Caesars Entertainment property. Eldorado has agreed to acquire the larger Caesars for $17.3 billion, a deal that&#8217;s expected to close in the [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":111384,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eldorado Resorts Says Casino Operators Interested in Caesars Venues<\/title>\n<meta name=\"description\" content=\"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eldorado Resorts Says Casino Operators Interested in Caesars Venues\" \/>\n<meta property=\"og:description\" content=\"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-07T14:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-07T19:32:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O&#039;Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O&#039;Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/\",\"url\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/\",\"name\":\"Eldorado Resorts Says Casino Operators Interested in Caesars Venues\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg\",\"datePublished\":\"2019-08-07T14:00:20+00:00\",\"dateModified\":\"2019-08-07T19:32:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The CEO of Eldorado Resorts says a Caesars Entertainment Strip casino such as Planet Hollywood or Paris could be for sale. 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Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/devinoconnor\/\",\"https:\/\/x.com\/CasinoorgDevinO\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Eldorado Resorts Says Casino Operators Interested in Caesars Venues","description":"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Eldorado Resorts Says Casino Operators Interested in Caesars Venues","og_description":"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.","og_url":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-08-07T14:00:20+00:00","article_modified_time":"2019-08-07T19:32:34+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg","type":"image\/jpeg"}],"author":"Devin O'Connor","twitter_card":"summary_large_image","twitter_creator":"@CasinoorgDevinO","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Devin O'Connor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/","url":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/","name":"Eldorado Resorts Says Casino Operators Interested in Caesars Venues","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg","datePublished":"2019-08-07T14:00:20+00:00","dateModified":"2019-08-07T19:32:34+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf"},"description":"Eldorado Resorts CEO Tom Reeg told investors this week that several casino operators are interested in a Caesars property located on the Las Vegas Strip.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/eldorado-resorts-ceo-says-several-casino-operators-interested\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/de79c9883313e8d4423cadfd01bd5d22.jpg","width":1200,"height":800,"caption":"The CEO of Eldorado Resorts says a Caesars Entertainment Strip casino such as Planet Hollywood or Paris could be for sale. 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Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. 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