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Article about Eldorado/Caesars Merger

Discussion in 'Casino Industry & Development' started by Sonya, Jun 16, 2020.

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  1. greekjim

    greekjim VIP Whale

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  2. mjames1229

    mjames1229 # of visits includes only trips w/ hotel stays

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    Every one?
     
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  3. mjames1229

    mjames1229 # of visits includes only trips w/ hotel stays

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    It would surprise me if they sold Horseshoe Hammond and lose the eastern half of the Chicago market (with the exception being that someone back up a double-hitch semi full of cash that Eldorado couldn't pass-up). I've become a little sour on the current Horseshoe management, but I am hoping that after the merger, the Horesehoe gets back to some of its prior glory.
     
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  4. vegasvstr

    vegasvstr High-Roller

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    Yes, I wonder if they might have some potential buyer/buyers for Hammond.
    Maybe better than a fire sale on other locations.
    Their hand might be forced Monday if the horse racing commission disapproves of Eldorado taking over the tracks. Though sounds like they might instead require a pot of money to fund track improvements.
     
  5. greekjim

    greekjim VIP Whale

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    I wonder if they are try to get out of Hammond before a downtown Chicago casino comes
     
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  6. HardEight44

    HardEight44 Low-Roller

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    Strange that they would sell Evansville.
     
  7. j52chips

    j52chips Low-Roller

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    I don't think so or I hope not. Horseshoe is a nice casino whether or not you like Harrahs. I'm from Chicago. Illinois is so screwed up ,it may be forever before a casino is done. I would bet today it would be a 5 years+ before anyone could agree on anything. Everyone hates each other. I hope they can put politics & crime aside & get it done. Actually, I don't think a Chicago casino would be ass kicking great because the market is already saturated. We have many local casinos. Yes, it will be a new novelty but the revenue they expect will never materialize because of the competition. $$$$$$ only go so far. As of now , nobody knows what will happen in the CET's rewards & Eldorado .
     
  8. jgates8

    jgates8 VIP Whale

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    Anyone have hands on experience with free rooms at any of the locations? When I started looking at Iowa props last year it appeared that they were not offering free rooms regardless of play level on the website. Just wondering if that is accurate or if it's done behind the scenes & just not promoted up front.
     
  9. vegasvstr

    vegasvstr High-Roller

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    @jgates8
    I just looked, I don't see an option to book Horseshoe Council Bluffs in the app., but do see comped rooms on the website. There's a warning so not sure either hotel is open yet.
     
  10. mjames1229

    mjames1229 # of visits includes only trips w/ hotel stays

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    See, I would see them jettison the racinos instead of improving them. They are in the casino business, not the racetrack business.
     
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  11. jgates8

    jgates8 VIP Whale

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    Thank you - I'm sorry - I meant the Eldorado - I should have been more specific but I stupidly missed that specific point. I receive comp rooms at any CET prop & have stayed at Harrahs numerous times (can't get a comp at Horseshoe unless it's only a few days out since they only have 'partner' hotels). But when I was checking out what would be the two new props - Bettendorf & Waterloo - they showed no offering of free rooms at any card level (its been a while since I looked). Isle used to be in Marquette (later branded Lady Luck) but sold to Casino Queen a few years back. They offered free rooms to more frequent players at partner hotels in Prairie du Chien (I never received an offer but others I knew from town did). It just doesn't appear to have at any point been under the Eldorado umbrella - looks like they were sold to CQ about the time Eldorado took over some of the Isle props. So looking more for info on whether Eldorado provides rooms.
     
  12. Eleven99isFine

    Eleven99isFine High-Roller

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    A Chicago casino would be a winner because the rest of the nearby casinos are not accessible without a car or shuttle. Having something within city limits allows for greater access.
     
  13. Scottndindy

    Scottndindy High-Roller

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    Caesars just paid 1.7 billion for the 2 racinos two years ago. I understand selling southern indiana and evansville. Hammond is CETs 2nd highest grossing casino nationwide behind Caesars Palace. If someone buys it they are going to pay huge huge cash.
     
  14. Eleven99isFine

    Eleven99isFine High-Roller

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    Totally makes sense given the clientele and location.
     
  15. HardEight44

    HardEight44 Low-Roller

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    Why would you sell something with the Caesars branding which you just paid a fortune to rebrand? Seems like a mistake.
     
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  16. DJP

    DJP Low-Roller

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    If CET were to sell Hammond, Elizabeth, and Evansville, that would leave them with only the two Racinos outside Indianapolis. Hoosier Park is pretty darn small. I haven't been to Indiana Grand, but I'm assuming it's a similar size. It doesn't seem like a good long-term strategy for Eldorado/CET to only keep the two smallest of their five total current properties. Especially since they just spent a bunch of money on the new building at Southern Indiana, and rebranding it at Caesars. Then again, maybe they're focused on the short-term, and getting the highest sale proceeds up front. I guess we'll see. The part I don't understand, if the state commission objects to them holding more than two properties, why did they let CET buy the two racetrack properties in the first place??
     
  17. vegasvstr

    vegasvstr High-Roller

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    Indiana is a done deal, horse commission approved with a bunch of requirements ($) for the horse tracks.

    And Eldorado confirmed what is being sold.

    "Eldorado CEO Thomas Reeg told members of the Indiana Horse Racing Commission Monday that if they approved Eldorado's acquisition of Caesars' suburban Indianapolis horse track casinos, Harrah's Hoosier Park and Indiana Grand, it will sell the Hammond Horseshoe, Caesars Southern Indiana casino in Elizabeth and Tropicana Casino in Evansville to fulfill the Gaming Commission's divestiture mandate."

    https://www.nwitimes.com/business/gambling/eldorado-confirms-hammonds-horseshoe-casino-will-be-sold-as-part-of-caesars-deal/article_c7c0f09e-c40b-539b-8d11-ed68da3aff83.amp.html
     
    Last edited: Jul 13, 2020
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  18. HardEight44

    HardEight44 Low-Roller

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    Just stupid and ridiculous. ​
     
  19. SMG

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    I was surprised when I heard that the Horseshoe-Hammond is going to be sold. Considering the crowd that they draw from the Chicago area, I would have thought that they would be safe from the merger. The Horseshoe and Blue Chip are the 2 casinos I frequent the most, so it's going to be interesting to see who will buy the Horseshoe-Hammond.
     
  20. greekjim

    greekjim VIP Whale

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    Horse track casinos such a big deal? I’ve never been to one but have been to the shoe in Hammond and thought it was a nice casino
     
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