not only make smart acquisitions<\/a>, but find considerable cost savings in those deals.<\/p>\nWhat’s Next For Caesars<\/h2>\n
\u201cThe VSP was offered to non-property, US-based corporate employees in management roles, as defined by the program, excluding certain revenue focused departments,\u201d said Caesars in the SEC filing. \u201cThe process for eligible employees to volunteer and be accepted was completed on October\u00a028, 2019. We expect to record severance and stock compensation charges of up to $20 million during the fourth quarter related to this program.\u201d<\/p>\n
The company did not identify regions in which management has been let go, nor did it mention areas or specific properties where additional staff cuts could be coming.<\/p>\n
It is widely expected that Eldorado will continue shedding assets, including a Caesars property or two on the Las Vegas Strip, to reduce expenses and generate cash after the acquisition is completed.<\/strong><\/p>\nOther avenues for trimming costs potentially include Eldorado putting a halt on Caesars international expansion plans and, likely further down the road, possibly spinning off Caesars’ sports betting<\/a> and internet casino businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"A key element in Eldorado Resorts, Inc.’s (NASDAQ:ERI) $17.3 billion takeover of Caesars Entertainment Corp. (NASDAQ:CZR) is the acquirer’s ability to find at least $500 million in cost savings. That’s a figure that was floated even before the regional gaming company made its offer official. Caesars is helping its suitor out on the cost reduction […]<\/p>\n","protected":false},"author":46,"featured_media":120854,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Caesars Cutting Some Managment Staff to Lower Costs<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n