Huge Las Vegas Strip Casino Deal Falls Through
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Real estate on the Las Vegas Strip is incredibly valuable. Caesars Entertainment wanted to sell Flamingo, but it would have broken up Caeres' continuity on Las Las Vegas Strip. The company is trying to cut how many hotel rooms it has on Strip in order to make its remaining rooms more valuable, as Reeg said. The sale of Flamedo was not successful.
Caesars has decided not to sell its strip casinos. The deadline for Vici Properties - Get Free Report right of first refusal passed. Caesar's CEO Tom Reeg wants to keep all of the company's strip assets.
Caesars will not sell its Las Vegas Strip casinos. The company has been able to handle its debt payments. It was believed that Caesar was interested in Flamingo and Planet Hollywood. Reeg apologized to all of Caeres' shareholders for the overhang in the stock.
