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Eldorado/Caesars merger gets final approval

Discussion in 'Casino Industry & Development' started by jeanf, Jul 17, 2020.

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  1. CalifLovesVegas

    CalifLovesVegas High-Roller

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    I checked my CET offers today, and a new Vegas offer with amount of Reel rewards jumped up to exactly what
    I would normally get for ElDo/Silver Legacy. (instead of the Lame amount I normally get from CET.)
    Coincidence?:shy:
     
  2. bubbakitty

    bubbakitty Doing retirement again and happily so....

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    Sure. Why not? Unless you truly believe they covet you now when you knew previously it was a question. Soak them for all you can but don’t think the players program is changing.
     
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  3. BlacklabberMike

    BlacklabberMike MIA

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  4. vegasmann

    vegasmann Low-Roller

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    CEO is out Buzz is Tony Rodio’s out as Caesars Entertainment CEO.
     
  5. Scotch12rox

    Scotch12rox Low-Roller

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    Just checked my account and all the properties are now available to book on caesar's
     
  6. Jejas

    Jejas VIP Whale

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    Of course Rodio is out.
    Reeg is the CEO of the combined company. That was the term of the merger.
     
  7. hammie

    hammie VIP Whale

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    Rodio is a Jersey guy and will be an advisor to Reeg regarding the AC properties.
     
  8. JulianC

    JulianC Amateur

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    The booking systems are not fully merged yet. The Caesars system has added convenient cross-launches to the "new" properties. I have to say that things started moving super-fast once the red tape went away.
     
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  9. Jejas

    Jejas VIP Whale

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    They have been preparing this for quite sometime already, even without formal approve, they knew it would come.
     
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  10. vegasvstr

    vegasvstr VIP Whale

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    Yea, I was a little surprised they had as much as they did already on day one, but they have had awhile.
    Merging tiers, systems, ADT, etc. at locations is the trickier part, though it sounds like they plan to complete some this year.
    It would be nice if they guaranteed a conversion of Eldorado points to Caesars this year, but doubt that will happen.
     
    Last edited: Jul 21, 2020
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  11. EzE

    EzE VUP Guppy

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    I don't think this is a good thing for CET players. Reeg seems to think people will gamble anyways so kill the freebies.

    https://finance.yahoo.com/news/eldorado-completes-caesars-deal-becoming-172003491.html
    "Bye to Buffets

    Reeg said in a July 8 Nevada hearing that properties outside of Las Vegas would likely never offer buffets again. They cost the company $3 million each, per year, and were often given away to lure gamblers.

    “If you didn’t give me the free food, I’d show up anyway,” he said of his customers."

    I don't know if its the rest of the gamblers, but i'd be a lot less inclined to go if I had to pay for anything but gambling. Free food, rooms, spa services are a definite perk that keeps me choosing a gambling vacation over something else.
     
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  12. Jejas

    Jejas VIP Whale

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    No gambler thinks Reeg is a good guy. I don't know who is the worse, him or Murren. Super greedy.
     
  13. Jejas

    Jejas VIP Whale

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    I can see without a crystal ball that a few (maybe very very few) years down the road, the new Casears will file for bankruptcy again.
     
  14. Mad Dog

    Mad Dog Low-Roller

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    They are very leveraged now, so your prediction may come true if the rebound is slow. They locked themselves into the deal pre- Covid as did the banks. One of the biggest assets of Caesars IMHO is the huge customer base and the CR program. If they squander that loyalty they will regret it.

    There is promise here if they can balance profits with rewarding customer loyalty.
     
  15. engicedave

    engicedave VIP Whale

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    The Bacchanal Buffet at Caesars just underwent a $2.5M renovation.
    That buffet was the the highest money making restaurant in the whole USA.

    From what I understand, buffets as we know them, may be gone for a while. What they'll likely do is more like what Wicked Spoon does, where everything is portioned out into individual plates, trays, baby skillets or baskets.
    Be a bit more cafeteria style for a while, where everything will be pre-done for you or they'll serve it to you upon request.

    Buffets have become big business in LV

    https://renespoints.boardingarea.com/2020/05/03/restaurant-most-revenue-north-america/
     
  16. DJP

    DJP Low-Roller

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    The high-end buffets like Bacchanal will be back, but with a price tag that makes them profitable. The ~$20 buffets at regional casinos (like Harrah's Joliet for example), that were often given away as comp offers, may never return, sadly.
     
  17. hammie

    hammie VIP Whale

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    Here is a good article about Investment plans by Caesars in Atlantic City.

    A notable quote:
    “Over the entire 11-year period (2008 to 2019), the total capital expenditures at Bally’s AC and Caesars AC were approximately half of the average annual amount invested by the AC competitors,” the DGE report stated. The report placed blame squarely on upper management, stating: “To be clear, the issues regarding the severe lack of capital investment at Bally’s AC and Caesars AC were a direct result of decisions made by (Caesars Entertainment Corp.) executives over more than 11 years.”

    And another: “The report noted that even the city’s two smallest casinos — Golden Nugget Atlantic City and Resorts Casino Hotel — outspent the two Boardwalk icons in terms of capital reinvestment.”
     
  18. HardEight44

    HardEight44 High-Roller

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    And it showed.
     
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  19. LilyJDragonfly

    LilyJDragonfly Degenerate

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    I'm feeling positive about the merger so far. Here's my recent interaction with the two.

    Being busy with other stuff this year (including a move into NorCal putting us within an hour and a half of Reno again!), I hadn't followed much about the gaming world. Anyway, the other day I decided to call ElDo to take advantage of a room comp for a night later this month. (if you didn't know, for whatever reason, you can't book comps online with ElDo/Silver Legacy) The guy on the phone asked if we were Caesars Rewards members. I told him we were and we were platinum. He pulled up our CET accounts on the phone and matched the status, making us Gold at ElDo, which is the middle level - nice! It was at this point that I discovered that ElDo had purchased Caesars.

    We're relatively new to the "One Club" of Eldo/Silver Legacy but even though we were bottom level (until the other day) and only played there once or twice in the past year, they have been generous with room offers and a little bit of free play. CET has always been great with the free rooms, of course, so I imagine this will continue on with the merger.

    On a sad note though... the original Harrah's in Reno has been permanently shuttered and will become some sort of retail plaza. :(

    Last thing - I flipped my CET rewards credits onto my One Club account without issue. I could have gone the other way with them but we aren't hitting any CET casinos for a while and we will be at El Dorado next week....
     
  20. mjames1229

    mjames1229 # of visits includes only trips w/ hotel stays

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    Better get your keester back over to the Visit Reno Forum...
     
    USBC Nationals are back in Vegas
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