This Year's Best Las Vegas Strip Deal Was One That Never Happened
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The Consumer Electronics Show was cancelled in Las Vegas in 2022. However, the March Madness and the NFL Draft were big successes for Caesars Entertainment. The omicron variant put pressure on companies to back out of the show. This year's best Las Las Vegas Strip deal was one that never happened. It was a very strong year for the Caeres.
Caesars closed the Las Vegas Strip Laurel Lounge for Diamond-level loyalty members. The lounge offered a small buffet and free drinks. It was open to Diamond level members or higher. Diamond members lost the perk. Caesar's is losing a key advantage over MGM's loyalty program.
Caesars almost sold one of its Las Vegas Strip assets. Flamingo was the property with the for-sale sign, but it didn't close. CEO Tom Reeg explains why the deal failed during his company's second-quarter earnings call. Rege wants to keep all of the Strip properties. The economy saved Caesar from selling a property that would be impossible to replace. The value of Strip property has risen steadily. Caears didn’t want to shed an asset that could enhance a rival or create a new one.
