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Hit With Crisis After Crisis, Caesars Struggles to Keep an Even Keel

Hit With Crisis After Crisis, Caesars Struggles to Keep an Even Keel

Caesars Entertainment is not having a week that is good being hit with numerous crises; any resemblance of Nero here to business CEO Gary Loveman is solely coincidental.

Then Caesars Entertainment Corp. is doing just fantastically well if the old adage that bad publicity is better than no publicity holds true. By just about any measures, however: perhaps not so much.

As if being forced for PR reasons to cut ties with its Las Vegas Strip hotel that is new casino task partner Gansevoort and bailing from the $1 billion Boston-area casino project with racetrack Suffolk Downs were not sufficient, the casino giant is now reportedly the subject of federal inquiry into potential violations of the Bank Secrecy Act at Caesars Palace, their flagship Las Vegas property. Then put in a bizarre and shooting that is random of Drai’s at Caesars-owned Bally’s in Las Vegas, a tragedy that left one patron dead who ended up being trying to tackle the gunman, also two security guards wounded. And lastly, a baby that is newborn body apparently found behind Planet Hollywood on the Strip in identical week might have made it seem like the Apocalypse had landed in Caesars’ garden ahead of schedule.

Problem After Problem for Caesars

Needless to say, the company’s industry-high $23.5 billion debtload that is long-term maybe not also news anymore; it’s just become a huge yoke that Caesars now carries around wherever it goes these d