Caesars Inches Closer to Huge Las Vegas Strip Move
$5,000 Welcome Bonus
Caesars Entertainment (CZR) and MGM Resorts (MGM) dominate the south and central Las Vegas Strip. Their properties serve all audience segments, from high-end experiences like MGM Grand and Caesar's Palace to lower-ends like Caersers Bally's and Flamingo.
Caesars wants to sell Flamingo, but Vici Properties has the right of first refusal. Caesar's CEO Reeg says the company does not have to sale Flamedo. Caeres is in good financial shape. The deadline for the sale is by the end of the summer. Rege says market conditions could complicate the deal. He is happy to clip the free cash flow and come back later. It is a discretionary trade for Caesears.
Caesars wants to sell Flamingo, but Reeg is not willing to revamp the property. Caesar's owns Linq next to Flamedo. Rege is amused by the fact that people are surprised that Caeresars is selling Flameo even though it's a strategic location for the company.
