Caesars to Promote Flamingo Las Vegas?

Owning just celebrated their 75th Anniversary in November of final 12 months, rumors that the Flamingo Las Vegas will be marketed by Caesars for over $1 billion are now swirling.

We have identified that Caesars was seeking to market a Strip house for rather a though now. Below at This Week in Gambling, our suspicion was clearly on World Hollywood as the most likely casino to go. And it seems as if Caesars agreed with us, suitable up until eventually they realized it experienced theater they could use to host concert events.

Consideration then shifted back to Flamingo Las Vegas as the subsequent most probably preference, in accordance to a report by Bloomberg. Having said that, marketing a 75 yr outdated on line casino for more than $1 billion has verified to be hard. There are increased operational and upkeep expenditures associated with a assets that old, and handful of appear to be interested in the extra head aches.

Yet another issue from possible suitors is that the on line casino could lose a significant portion of it is business enterprise if slash off from the Caesars Benefits application. Still, Flamingo Las Vegas is key Strip true estate and has properly about 3,400 rooms… even if the inside could use a significant upgrade.

Caesars Leisure CEO, Tom Reeg, lately mentioned that even though the organization could not give functioning updates on present-day or pending exercise, we really should realize that the wheels are in motion for a sale of a Strip home. He additional that the firm continue to expects to get to an settlement for a sale by mid-summer. Regardless of whether or not that really transpires stays to be observed.

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